Member Info for Monkshood

Thanks for the reply Neil.
This is a long-term holding for me so it will be interesting to follow how this unwinds and how they finance their debt going forward.

Really starting to get some momentum now, I think that this is in part because it is starting to jockey for a place for inclusion in the FTSE250 at the next rebalance. Not sure if it will make it this time, but it was always the upside to this holding that it could easily move up out of the Small Cap Index just by doing 'OK'. The interims come just after (MCap ranking is on the 1st Dec) so they will not affect this (except in the longer term).

Neil, why do they do it this way, is it because they raising money by normal debt would affect their banking covenant ratios?
Would the intention then to be to use this as a bridge until business has returned to a more normal level then replace it with cheaper debt?

I feel it is quite a high coupon compared to their previous debt (below)- I would rather have seen it just oversubscribed at a lower interest level.... RTO just refinanced a Eur600m loan at 0.5%.
'In October 2019, the Group issued a series of private placements totalling £414 million denominated in US Dollars, Sterling and Euros with maturities ranging from 2027 to 2032 and an average coupon of 1.92%, representing the Group’s debut issuance in the US private placement syndicated market. These facilities were taken on a delay-draw basis and will remain undrawn until May 2020 when existing facilities mature. In November 2019, the Group issued a £250 million Sterling bond maturing in 2028 with a coupon of 2.375%'

Thanks Phantom. It is surprising that more has not been done on this as it is rather important when it comes to developing and deciding screening strategies.
I guess that once more LFT's become available there will be more studies and accumulated evidence to make a critical comparison of the merits of both types of diagnostics.
It is just a shame that the media are not better at trying to explain this , rather just saying one test is only 50% correct.

Does anyone know if there is any research looking at infectivity - comparing rt PCR and LFT, positives/negatives?
Comparing +ve PCR to +ve LFT, is in practice, not that useful.

500M -but @4.250%, 8x over subscribed , perhaps the advisors should have set a lower interest rate....

Inspec's has been quite busy with M&A's considering the backdrop. This latest acquisition should broaden the customer base . They seem to have got a large placing away without any significant discount so the II's must approve. The integration of Norville looks to be going well.
I think that it could pick up well next year once Covid is behind us.
With the exception of the article in Shares it seems to be off most tipsters radar which is often a positive!

What do you all think? Assuming it goes as described 6% dilution at a 5% premium. Half the funds are coming from the Directors etc if I have read it correctly.
I am not sure what their original performance targets were for their share options (that they will now be cancelling ) but the new ones do not seem very challenging (5,7.5 and 10p share targets).
It does look like Lets explore has plenty of potential for the company so happy to stay invested.

I originally thought that once they had merged SDL would be removed from the FTSE250. I am not so sure this has happened as I have only seen - 'In the absence of an active market, SDL will be removed using the stock terms of 1.2246
RWS Holdings shares for each SDL share held.' on FTSERussell - nothing about which company will be replacing this in the index (which you typically see). No idea why - but maybe it is giving more time for II's to rebalance hence the continuing large volumes and odd movements.
Next index change date is early Dec, maybe by then it will have settled down and we will see a steady rise...

This was released today- it includes-
'Furthermore, in order to provide additional support to Member States for introducing
the use of rapid antigen tests, the Commission has identified EUR 100 million from
the European Support Instrument (ESI) for the purchase and distribution of rapid
antigen tests to Member States. '
Full details-
COMMISSION RECOMMENDATION
of 18.11.2020
on the use of rapid antigen tests for the diagnosis of SARS-CoV-2 infection
https://ec.europa.eu/health/sites/health/files/preparedness_response/docs/sarscov2_rapidantigentests_recommendation_en.pdf

It has moved close to my initial target far faster than expected. I am going to stick with it until the interims and then see what they have to say.
Good luck with CNC it looks interesting.

All looking very positive-
'The first four months of this fiscal year saw a return to strong sales growth, considerably ahead of the equivalent period of the prior year. Results are ahead of management expectations for this stage in the year'

I was getting rather over weight in this after the rise to 230,. I try to have a 8% limit for any single stock. I top sliced before the results as I was unsure how well things were going in Alsa and in the US. After the update, i am now comfortable to go over my limit for this stock, I topped to the same holding again on the dip to sub 220 and will now hold until 350 (whenever that comes) - after I will start to top slice until I get back to my 8% limit and then maintain at this level going forward.

An increase in reviews on Trust Pilot in the past few days(6-22), all very good (5*) with the exception of this one which itself is positive (in a way..). The review below was in response to a criticism about delayed delivery-
'In regard to your order for our “Let’s Explore Oceans” Mega pack I am sorry to have to inform you that due to a batch of faulty books being received, your order has been delayed in being despatched. Your order is now due to be despatched on Monday / Tuesday November 16/17th for delivery the following day.

We’re genuinely sorry about this, response to our product has been overwhelming, we’ve had people working 24 hours a day, but when we saw the faulty books, we just didn’t want to send them out. We know you’ll love the pack when it arrives. Once again, a big SORRY from us for the delay.'

But this was on a 'pure' recombinant protein not a native sample in saliva.
I am getting more confident that intact S1 can be successfully be analysed as a screen.
After 6months it would be nice to see what the final assay used as a BAMS screen is and what steps are involved. ....

@Pigster, we do not know if BAMS does include a digest, if MAPS works without then BAMS should as well.

@Phantom , no, not the ones we are discussing here.

I saw the results of a proteomics analysis of a mouth wash sample from a acetone (propanone..) precipitation in April. #
You could also do affinity purification in a 96 well plate coated with affimers (or Mabs) and then process this on a MS.

Where BAMS has a more unique place is if you want to multiplex, so you could look specifically at s1 , the nucleocore protein, inflammatory markers , markers for influenzas etc. all in the one sample.

They have the MS's in the pathology lab clusters of hospitals (mainly Bruker Biotypers). I am not sure of the cost, but I think the basic Bruker Biotypers are about 100k +