Member Info for JimiHendrix

The only thing I can find in the terms regarding issuing new shares on each draw down is referring to the 4% commission. If that’s all they are issuing then it’s virtually nothing, so very good news indeed.

“ 250,000 ordinary shares of 1.5p each were also allotted and issued to the Investors in respect of the commission of 4% payable on the Initial Prepayment. A commission of 4% is payable on any prepayment made under the Facility ("Placing Commission"). The Company elected that the commission payable on the Initial Prepayment would be satisfied by the issue of 250,000 Shares. These Placing Commission Shares were also admitted to trading on AIM on 6 April 2023. The Company has elected to issue further Shares in respect of the commission payable on further drawdowns under the Facility rather than pay the commission in cash.”

MyIPA and bigbench, both scenarios would be excellent! :)

I’ll keep you posted, haven’t heard back yet.

Thanks for the replies. I emailed the company yesterday to hopefully get clarification as it’s not entirely clear. The bit about referring to the original RNS made me think they’re trying to hide that new shares are issued for each draw down, but equally they would need to announce any new shares that are issued. Hopefully the company will clarify.

Yes but if you see the RNS about the facility they issued 6.5 million shares for the initial drawdown of £2m, plus warrants as well at 45p ish.

Based on this I understood that new shares would also be issued for each monthly drawdown (as well as warrants). Am I incorrect?

Wow that’s some decent buying there!

Can anybody clarify whether or not new shares are issued to the investors on each draw down at the reference price and when they’re admitted to trading? My understanding is that when we drawdown £300k at in the latest instance a reference price of approximately 17.5 (off the top of my head from the RNS) …we will have issued shares to the investors worked out as 300,000 / 0.175 …however there was no mention of this in the RNS, only mention of the warrants.

Surely they should be telling us at least when they will be admitted to trading.

Can anybody clarify whether or not new shares are issued to the investors on each draw down at the reference price and when they’re admitted to trading? My understanding is that when we drawdown £300k at in the latest instance a reference price of approximately 17.5 (off the top of my head from the RNS) …we will have issued shares to the investors worked out as 300,000 / 0.175 …however there was no mention of this in the RNS, only mention of the warrants.

Surely they should be telling us at least when they will be admitted to trading.

One of the terms of the facility states the company can’t make a drawdown if the share price is under 16p. I can’t find anything in the legal terms to say that if it did drop below then they can still ask and make a drawdown providing mutual agreement, so I take it that by doing that they would be breaking the terms of the facility.

Riverfort need the share price to rise significantly above warrant prices to make any decent profits from those, and of course they can’t exercise them until the price reaches that level (24p for the latest warrants issued).

http://www.genedriveplc.com/company-reports/Circular24Apr23andNoticeofGM11May23.pdf

I believe that they simply mean they are not involved in this stage of the project, I also don’t think the grant funds will go directly to Genedrive. My view is the funds will be awarded to the DEVOTE program and that they will use that (I’m expecting £3million +) to pay us for our work on the 3 projects at the stage where we are needed. I also believe it’ll be very soon.

Yes though when people suggest that an obvious (for anyone with level 2 visibility) large buy is a sell then it can spread fear and doubt, which might cause some nervous holders to panic or put people off buying.

The 650k buy was at 20.83 at 16:24 and since then buys have been at that level and above, first thing this morning over 21 was paid. Now it’s dropped back a little with some selling. There’s no doubt it was a buy at that price and time.

The 650k trade went through at the ASK price at the time of the trade, so was undoubtedly a buy.

Actually I don’t believe that is true Roger. The trade was delayed 1 hour, announced at 17:24 (the actual time of the trade was 16:24). Without a doubt it was buy. Have a good weekend all.

650k buy delayed from around 16:24, that’s 100% a buy at that price (20.8 ish).

From the documents and articles I’ve read I think it’s almost a certainty we’ll get some of the funding, just my opinion though.

Funds and funding will be allocated to specific needs. Exciting times here.

The employer would be University of Manchester so I don’t think there will be an announcement however it certainly looks like they will be working with Genedrive and that we are indeed part of the Devote program.

It’s not guaranteed that the stroke marker test will get the recommendation from NICE. I expect many people will be cautious and waiting to see before buying.

It melted away because of covid, they did explain their thinking.

*These !