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Hero,
The truth is no one truly knows. Most of us are completely perplexed. Some blame shorters I blame the fact that historically dilution has followed good news. No ones mentioned lizards yet but everyone has a theory but most are still confused
Dogfarther, I thought that a Ned would hear privileged information in the board meets and there would be an expectation, implicit or explicit, about social media also. Happy to be told I’m wrong though
Like others have said I am also v v grateful for haywains contributions to this community and am slightly in awe of his knowledge .
I m also v sympathetic to the idea of ‘us’ having a Ned, my only reservation was that if it was haywain we would lose his input here wouldn’t we!?!?
Does anyone have direct experience of how they work?
So if an II had a threshold mcap of 50m for investment are there any other qualifying rules? Presumably 50m would need to be a closing mcap not intra day? Would the valuation have needed to have held for days or even weeks to qualify or not??
@moorscloud. Answer, possibly of course, my post was just how I made sense of it based on the little we/I know. If the last raise was planned why not raise that money with prevail at a higher rate? If it was anticipated why would prevail have offered 6p per share?
My thinking was that on 18/9 (prevail deal) the CH was anticipated to be lifted in (comfortably within) 2023. By 28/11 and the placing of 500k+ it wasn't and the placing money was to cover the delay. If Hermo are burning 100k a month that suggests a 5 month delay - which seems pessimistic to me but if they were burning at c.250k a month that implies a 2 month ish delay. I don't understand the 530k placing if the delay was to cover a couple of weeks so my guess is late Feb at earliest. Would be delighted if it were earlier of course
I see things slightly differently...
Once upon a time I worked closely with the Investor Relations team (at a large FTSE 100). The Director responsible used to repeat that being consistent was the most important thing - say what you are going to deliver to investors as clearly as you can and deliver it. Don't break promises, don't over promise, in fact don't under promise/over exceed either. He believed Investors needed to be able to trust your word for them to invest in the company. I thought then and still do that this is very sound guidance.
Vlad set an expectation of CH this year. No one held a gun to his head re a date, he chose to make that statement. Now we have a fund raise and the description of his timescale as ambitious. This suggests to me that timescale is at the very least at risk. This is important because if investors can't trust Hemo will keep to the timelines they will be less likely to invest. Vlad needs to start keeping to promises he makes and if he can't he needs to make different promises IMO