Member Info for Misterh

Thanks Agricore for clarifying the options.

Am I right in assuming that the reduction in share capital will mean a share buyback or is there any other way of achieving this?

Pre-open price of Block values TSL holding at £66.5M. Discount too large to ignore. Decided to average down today.

Interesting.
I was a bit confused by the wording in the notes to the special resolution which stated 'The directors do not currently have a specific intention of exercising the authority granted by the resolution'
In other words, was the share buyback due to commence now or at some point in the future?
Regardless, I am feeling increasingly optimistic about the future direction of the SP.

I was a bond holder, but decided to retain my HBR shares. Doubled up this morning following today's extremely positive update. Jumped the gun a bit, buying at 415p but more than happy.

Haven't seen this degree of liquidity in GCM for ages. Spread of <2%. What on earth is afoot?

Looks like another dud investment, falling the best part of 30% on news they are discontinuing a study on their potential prostate cancer drug. Shaves another penny or so off the NAV. No doubt the SP will lose a multiple of this.

This is a great question and one many will be asking. The only thing you can really do is to decide what exit price is acceptable to you. Wait and see what the latest date is that your broker will accept instructions from you in order to have the best idea of the VWAP based price might be. Let's say you think it will be around 195p. If this is acceptable to you, then simply tender all at the strike price to ensure the maximum number are bought back. In addition to tendering at the strike price we will probably be given the option to tender at 1% intervals above VWAP to the maximum at 5%. If the minimum you will accept is 204p then you could tender all at VWAP + 5% but risk the strike price being lower than this. Don't forget you should be able to tender different quantities at different prices if you wish. So if you had 1000 shares, you could say tender 700 at the strike price and 300 at VWAP + 3%. You certainly won't qualify for any special dividend on any shares successfully tendered. If you feel that the shares are vastly undervalued, then it maybe best just to sit tight.
I certainly can't offer any advice as I haven't got the foggiest clue how this is going to play out and have yet to make up my own mind what to do.

Incredible figures indeed. I wonder if we'll get to a negative enterprise value. The way this is going, anything seems possible!

Discount control mechanism shifting into action with buy back of approx. 5m shares. Smart move which itself could lift NAV by around 3-4p.

The way I understand it is that the lock-up period is 9 months from the date of admission to AIM which was 19.7.21. They should therefore become tradeable around 19.4 depending on how efficient your broker is.

The CGT argument just doesn't hold water. I suspect a very significant percentage of these shares will be held in SIPPs and ISAs where CGT does not apply. I really hope there is no mass exodus, but if there is, it could present an excellent top up opportunity.

Roll up! Roll up! Exchange your pound notes here for fifteen shiny shillings.

The figure that most caught my attention was the relatively small provision of £2.1M 'raised ahead of the anticipated confirmation by the FCA that HAT can proceed to implementation of required past book review and subsequent redress programme'
Should the above figure be sufficient to draw a line under this chapter then a significant re-rating could ensue in my opinion.

Judging by the likely strike price, we are being offered the wonderful opportunity to exit at a jaw dropping discount to book value, saving ourselves a £4.95 dealing charge. I am so exited at the prospect!

Try AJ Bell. They hold my CNEL shares. They have always been very efficient whenever I've made transfers in [although I've never done this with securities not listed in London].

Do we know if the tender offer will be definitely set at a fixed price or could it be of the 'Dutch Auction' type [often used when companies buy back bonds but occasionally shares via tender offer]?

Absolutely no respect for market protocol putting out the RNS at 4.13 p.m. Says a lot about the nature of this company. Wouldn't be in the least surprised to see another NOMAD resignation.

I was just re-reading the RNS of 19.11.21 regarding the phase 1 results for the Imutex owned AGS-v Plus mosquito saliva vaccine against arboviral diseases. I note that the next step would be 'to evaluate clinical efficacy in a human challenge study [or a study in endemic areas]' Given the enormous potential of this vaccine, would it not make sense for hVIVO to design a Zika virus challenge study [if they are capable of this] before selling it on to big pharma should it yield positive results?

Tender offers are usually made at a small discount to book value. Would anyone like to guess the likely tender price [and the % guaranteed to be bought back]?