CONCLUSIVE EVIDENCE: Another Director bought Lindy’s shares17 May 2022 22:11
Firstly I draw your attention to Exhibit 1. This shows the identity of significant shareholders as at 10 August 2021:-
https://web.archive.org/web/20210918044111/https://www.scancell.co.uk/share-info
This shows that “Scancell Holdings plc Directors and related holdings” held 19,242,678 shares as at 10 August 2021.
We can match this figure to Scancell’s financial accounts for the year ending 30 April 2021 (Exhibit 2):-
https://www.scancell.co.uk/Data/Sites/1/media/fininfo/annual-report-to-30-april-2021signed.pdf
If you look at page 20 thereof and add up the number of shares owned and jointly owned by Directors as at 30 April 2021 (Ignoring C Holloway’s 100,000 shares as he resigned 28 July’21):-
69,623 + 2,000,000 + 1,796,432 + 258,823 + 8,773,960 + 6,343,840 = 19,242,678 shares. (You will note that this total agrees with that referred to in Exhibit 1).
The RNS 9 September 2021 states:- “An existing institutional investor has agreed to purchase 4,459,681 of the Shares at 20.38p pence per share and a private individual has agreed to purchase 2,380,952 shares at 21 pence per share”.
Exhibit 3: this shows the identity of significant shareholders as at 8 December 2021:-
https://www.scancell.co.uk/share-info
We have previously established that Redmile was the institutional investor who bought 4,459,681 of Lindy’s Shares. This is confirmed because as at 10 August 2021 (Exhibit 1) Redmile held 237,306,384; on 8 December 2021 (Exhibit 3) this had increased by 4,459,681 to 241,766,065.
Exhibit 1 shows that “Scancell Holdings plc Directors and related holdings” held 19,242,678 shares as at 10 August 2021. As at 8 December 2021 this figure has dropped to 14,782,997 (Exhibit 3). Surprisingly this figure is only 4,459,681 lower (i.e. the number of shares sold to Redmile). I would have expected this figure to be 6,840,633 lower (i.e. 4,459,681 in respect of Redmile plus 2,380,952 in respect of the private individual).
Conclusion: 2,380,952 shares sold to "a private individual" must have been sold to a Director of Scancell, Martin Diggle I suspect. I rest my case.