Member Info for Monkshood

29th July

'In its statement issued on 6 July, the DfT announced a further £226.4m funding package, taking effect from expiry of current arrangements in September 2021 until April 2022. This reflects the Government's decision to provide a level of support to the bus network while customer numbers recover following the anticipated ending of COVID-19 restrictions later this month.'

Look at the US markets - in part it is linked to the fall in the US benchmark 10-year yield it 'fell as much as 7.4 basis points to just under 1.35%, the lowest level since Feb. 24' by 10.00am (US). FTSE, DAX and CAC followed it down

US markets opened.

I have - I will feed back if I get a useful response.

It is not clear how many holdings they would need to sell if the vote was for continuation. Although they many not have renewables etc, if you look, many would also not be excluded on an ESG basis and I assume that they could sell down any that did not meet their criteria over a longer time.
It would be interesting to hear from the directors what % of the portfolio would be turned over if it continues, as this its self, comes at a cost.

I guess the issue is, will they get the nav value of their assets ? For small caps a 10-20% drop is not uncommon especially once everyone knows there is a forced seller.

From an article in The Times-
‘Liontrust had a target to raise £150 million from investors for a new ESG investment trust. But the company eventually had to admit it had just failed to reach even the £100 million it had sought as a minimum. The entire plan was scrapped and Liontrust was reduced to paying back applicants.’
The article also refers to Impax’s fund in this area ‘its portfolio is now priced at a spicy 26.9 times prospective earnings, significantly above the historic average of 20-25 per cent, which itself is high.’

Further evidence, in my opinion, that this is not the right course for AIF to be taking.

It will be interesting to see where this opens on Monday, especially following the comment also in the rns -
'However, following discussions with the Company's independent valuer, the Board is anticipating a material increase in its property valuation for the period to 30 June 2021'

There was a reason that they have spent the last year developing the buffers......

Did you put some on a swab and then add this to the buffer or did you add a drop straight on the test? I am guessing the latter as if you add it to the buffer first (as per the instructions) then it should be negative.

Thanks.

They won it off nex unfortunaly. Still no advantage to the FGP as they are offloading First Student.

Both of these statements are correct. Changes to the AA's that mAbs bind will affect assay sensitivity, and as Innova's test binds the nucleocapsid protein it will be independent of changes in the spike protein.

If you look at the changes for S in B.1.617.2 I listed - there are these three-
E156-, F157-, R158G
The first two are deletions (hence - and no letter after them) and the R158G means that R (= arginine) has changed to G(=glycine), this is what they described in the paper.

They are talking about the N terminal domain of the S1 protein, rather than the N (nucleocapsid) protein.
Protein are made up of amino acids which have a carboxy and a N terminus, so the backbone of the protein is N-C-N-C - with functional groups coming off the C 's , they ends of the protein are called N and C terminus depending which end of the protein it is.
Hope this make sense?

The S1 spike protein change will be irrelevant as the Innova LFT detects the N protein.
Have you a reference for the changes you cite in N?

It looks like the initial change in N in B.1.617.2 was D63G, the main other ones now appear to be R203M, G215C, D377Y ( also A398V in a recent sample from Scotland). Another from Singapore does have additional deletions N: D63G, R203M, G214-, G215-, D377Y but this variant does not look widespread. There is also a recent sequence from Asia without the D63G mutation but still having the D377Y one.
If you are still planning on a holiday in Portugal then you will need a test that can detect this version of N in the delta variant- N: D63G, L139F, R203M, D377Y, R385K.....

For reference - B.1.617.2 common S changes are T19R, G142D, E156-, F157-, R158G, A222V, L452R, T478K, D614G, P681R, D950N .
It makes you realise the importance of having a test that can detect all variants or at least be quickly modified if needed.

Sorry, poor choice of wording, I meant monthly cash expenditure.
I am sure cash will improve - I am just never happy with vague statements like 'satisfactory ' why not just give an actual value as most companies do.

I am very happy with the update. Pleased also that they have withdrawn resolution 5 .
Once the other open and 39 head more head sets are back in use they should be looking at >£700K p.m. from LBE alone.

I have left it too late to join the AGM Q&A , if anyone is attending could they ask about the current monthly cash burn and what exactly a 'satisfactory' cash position means .
Thanks

This is from a 2016 EU report-
For the UK-
'The main competitor to National Express on high-volume intercity routes is the new entrant
Megabus, a subsidiary of Stagecoach, one of the largest public transport groups in Britain.'

Not sure what has changed more recently, either here or for Interregional travel in Spain.

Although slightly out of date this reference is useful if you want a good background on EU coach use-

https://ec.europa.eu/transport/sites/default/files/modes/road/studies/doc/2016-04-passenger-transport-by-coach-in-europe.pdf

Megabus entered the market in 2003 and has since then operated on key routes alongside the
incumbent. Stagecoach’s annual report states that Megabus’ 2014 revenue was £48 million
(approximately €60 million).