Member Info for Jiving

Surely Jo's departure is a reflection of a fundamental change in the company's strategy. Originally when Dave/Dan/Jo ran the company, it was a small biotech pharma company developing new patented drugs, which it added to its IP portfolio which in turn were to be then marketed to partners. The Blackwell era now appears to be just a stopgap period, where strategic decisions were essentially put on hold. Now Anne has joined & imposed her own corporate direction - the biotech development business seems to be to have been phased out/closed (thus Jo had no role) & NFX is now simply an IP asset management company seeking to maximise revenue from its 3 active patents (with no development pipeline adding new ones).

I think many of us are thinking along similar lines especially now our key scientist has departed. I am 'hoping' we get a preliminary deal on 002 or 004 & then a sale/buyout. I have been in this thing since just after the IPO, where I was one of the investors (ie suckers) rushing in to buy at a premium. Top ups since then including one circa 9.5p (my comment at that time "..we wont be seeing single figures again.." & of course we never saw double figures again!). I am hoping we get bought out for north of 10p, for me a slight profit, but absolutely not worth the pain, the letdowns & the missed opportunities elsewhere.

FX. Regarding warrant/option issuance. Well Anne is in an executive position & we surely want her financial interests as clearly aligned with shareholders as possible. A well connected Chairman might similarly play a critical role in bringing in JV partners or a potential takeover candidate. One of the reasons I originally invested in NFX was that the three founders all held very significant share & option positions in the company.

But your broader point about whether NEDs should be recipients of options/warrants is a good one & is a subject of debate in corporate governance circles. Some companies do not issue them to NEDs as they believe it conflicts with their corporate governance responsibilities, for example, Vectura I believe has such a prohibition.

Soup, both the new Chairman & Anne must have seen substance in the portfolio or they would not have joined. I hope they both get decent sized warrant allocations, which I assume we will be informed about at some stage. Maybe they are tactfully waiting for the first deal before announcing their warrants.

Group I had similar thoughts, Anne is preparing to sell the company, so no need for chief scientist or labs etc as there is no intention to keep developing a drug/patent pipeline beyond NXP004. IF that were the case frankly it might be the best exit for LTH.

Exactly, NewKOTB why put out the Shard third tranche RNS just 30 minutes after the first RNS. Its not like they could not have been combined in one update.

I thought the completion of the second tranche essentially left us funded till end 2021, so why the third tranche?

Holstb, if you are signed up with Interactive Brokers (not Interactive Investor, a separate UK company), you will find they are a US based discount broker that does not currently offer ISA's, SIPP's etc.

I have picked up 2.5m XOP @ 1.0c. I just dont think we will see these prices again once we relist on LSE. Its an anomaly we can still pick shares up at approx 0.58p, when if we were listed we would likely be well north of 1p on LSE. I did it via Interactive Brokers, very simple as the platform does not allow fancy stuff like trying for 0.75c, commission was noticeably higher but thats a drop in the ocean compared to the big picture.

Soup, I'm only in year 4 of momentum fizzle out. But I am still hopeful we are going to get some good news shortly on Innovate & TR1's. The corporate rejig at the end of last year, the 2p placing & Allenby coming on board IMO mark the bottom of our woes.

Looking at the dates that the previous month's Innovate awards are made, they usually come in the second week of the following month - awards up to 1 March 2021 were announced 9 March, up to 1 February on 11 February. The date last year for announcing awards up until 1 April 2020 was 14 April 2020. So the awards to 1 April 2021 should be announced this week. Click '+show all updates': https://www.gov.uk/government/publications/innovate-uk-funded-projects#history

Picked up in Times:
https://www.thetimes.co.uk/article/biotech-firm-c4x-discovery-strikes-deal-with-sanofi-ztx5stt6q

Great find Guitar, it looks to be a new or at least totally revamped Essar oil website. A sign of life & maybe progress. Key quote on OPL226:
"The notional development plan for one of the prospects include drilling of exploration wells followed by 18 development wells is currently being worked upon."

Yes - thats 18 planned wells!

Mitch, I appreciate its 'only a MOU' but its still a big positive step forward for KP2. If AT announces a MOU in June, would we get the same type of share reaction ie in todays market going from 8.5p to 11p? A lot of people including myself are hoping that any positive news, like a MOU, would put a bit more life into the share than that.

In terms of share price appreciation after the KP2 deal announcement, it seems a little underwhelming at some 30% - for the deal they have been waiting for X years!

With you guys totally on transparency regarding any news (positive or negative) on the Innovate grant. It was viewed as substantive enough to inform us they were applying, so its substantive enough to inform us when the decision comes in. It is however possible that grants may be made with various conditions & these may take a while to understand/ negotiate/ accept. Also governments often place news embargo's on various sensitive announcements - ie they decide when the news is released, not the individual companies involved.

Telegraph today: "But I still see crude consolidating between $70 and $80 a barrel over the summer, as the global economy recovers ­– even if, for now, much of Europe continues to struggle."
https://www.telegraph.co.uk/business/2021/04/03/global-thirst-oil-intensifying/

Guitar amongst all the confusion I think you are spot on. Its going to take as long as the FCA takes to approve it, so in that sense its out of Arthur's hands but I suspect mid April onwards.

We might have paid & it was a condition of the Nigerians that no news be released until they say so. In which case it might be possible I believe to plead commercial considerations & get an exemption from immediate release of the news via an RNS.

Yep HaleSpur I stay in touch with him.