Member Info for Muck165

There clearly seems to be a seller here.

As far as I recall, pretty much all of the major holders on listing agreed to restrictions preventing them from selling for a year (except in limited circumstances). I think there was perhaps one holder who only agreed to a 3 month restriction, but that still hasn't expired. There has been no TR1's.

So anybody got any thoughts on who the seller might be?

Only 3 MMs. Am no expert at L2 but seems to me that N+1 Singer are controlling the mkt and, if anything, keeping a lid on it. I think we certainly still have a seller but volume should drive them out and, once they are, the SP could pop especially if it coincides with good news

Mina is announcing a new massive public health research study in the US, in conjunction with Citibank, to evaluate how well workplace infections are prevented by frequent home-tests. Its using Innova (boo) but it will nonetheless help demonstrate the effectiveness of the test to the US public/administration.

https://twitter.com/michaelmina_lab/status/1369689021614616577

Yep, the actual spread at the mo is 104/105

Agree GLR. So much buying pressure today but still relatively little impact on the SP.

Sounds good to me!

Also, BioSure are involved with the Vatic "Knownow"anitgen LFT, which was CE marked in Jan. Adds weight to the possibility that these are our third antigen LFT partners.

Anybody got any views on why the DHSC hasn’t paid us yet for the 1m ABC-19 tests we delivered? We have verbal and written assurances, so it seems a little odd to me that they haven’t just coughed up already.

Anything to do with the GLP perhaps?

Well, the SP reaction was a little more muted than I expected...

Here is the actual ASX announcement, attaching a summary of their Bankable Feasibilty Study. We compare very well I think!

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02351752-6A1023841?access_token=83ff96335c2d45a094df02a206a39ff4

Looks like they’re close to getting $60m of finance from Kfw, the German development bank. Bodes well for us that “one of the worlds leading development financiers” is prepared to back the Epanko project. Will be interesting to see the effect on its Sp when the ASX opens shortly...

https://www.marketscreener.com/quote/stock/ECOGRAF-LIMITED-10357567/news/EcoGraf-nbsp-Positive-Response-to-Proposed-US-60m-Epanko-Debt-Financing-32645830/

Haven’t been able to follow the board for a few days so don’t know if this has already been posted.

https://www.drugtargetreview.com/webinar/84323/bead-assisted-mass-spectrometry-assay-platform-for-targeted-proteomics/

Basically a Bruker Webinar on the BAMS process, scheduled for 15/4. Doesn’t seem specifically related to our assay but it may well come up, and it’s interesting to see Bruker getting behind the whole tech now.

Well, the company just tweeted again, albeit posting a copy of last years presentation.

yep, cant argue with that...

Agreed. We know AVCT is one, but it seems to be last in the queue for TT.

I think the international partner is likely to be Sona Nanotech. But that’s a brain tickler (although they’ve been working on a saliva version for ages and their BB’s in Canada are alive with ideas it will be announced v soon)

But the third? I just hope it’s a test that’s passed through PD

Vatic possibly? They CE marked in Jan I think

It’s not

LThe Company welcomed the news from Avacta plc in February 2021 regarding the very encouraging performance data on their COVID-19 antigen test. As a manufacturing partner for Avacta, the Company looks forward to moving their product through technical transfer in due course.”

Does beg the question - who is it....?

I’m not sure they are selling. The theory that he sold to raise capital for Volt seems entirely plausible to me, and it may well be he’s stopped now. I do think there will be some nervousness amongst PI’s nonetheless, and the company should do more to reassure us given the nature of the RNS. But with the anticipated news flow being so close I think the SP might show some robustness and, of course, if the seller is out then any good news could stick a rocket under the price. All imho.

Further to my last, page 18 of the last accounts sets out the substantial shareholders as at 18/5/2020, and discloses Kabunga as having 11.1% of the company. Those accounts were audited by BDO. So again, either these are wrong, or Kabunga started selling much more recently than is disclosed in the RNS.

https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/4BGz42mkZ-eUDjDBkA7uMizIzIcMhLxMgulypCZ1se8/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3EJK5RO5H%2F20210308%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20210308T231322Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjECYaCWV1LXdlc3QtMiJIMEYCIQD8YGKVDePar6hjn%2F5uXSLVuHLq%2BlSaPNbB%2Fijliu9bQgIhAJGm%2F45hs67H03GkjOIogitJnGKfiCEYEeQg0I9wEbFZKrQDCE8QAxoMNDQ5MjI5MDMyODIyIgzYObbjJEBjeA5JPPYqkQPFg%2FR%2B0KqbgC5oo6W%2BD35pQ5cGrYlAAGBjjBIBx4eNnIIEsILHERWd56X0VL1%2FvqlCOtLVt%2BK1HSiGLpDotyEvhxFNObiifzMVkRg%2B50hosH2qyLZkPAMZUBmqi1KBNGmFqAQlnQfpxIYt233r1mSjFa0bmn72j%2B7F3zCVrP6OT7eP%2F8kvwt1fpz9qjxP1nwzXsbMCVPS25FUYyAQy9SVpgqjJJJyum5DU9qBV2D3648NAW3MLrRJTTDaCHNlZiSrA1U4sU5Oh4V%2B50UXOyAmxG1k1liNsM3g%2F9vafr2TLKrJoI2rty9Ry7R0KKirkSaFTj3NkRQTMOW3BW8J2qqjA4ewXodIRgGeRJIv9NTQp4BQUtfASYfJjSfUgF3JetEYIbVvYTodtDAMuUenzfRnnoCTInRmtn6krIS9HL0lxxpnaSYS6ZAJ4EazOs%2FLtpmXdoQlHGhsUhDsSO1c01OzJLdeiX4vxCQ8LAOT6OdJ6RNPC0rOspSY6VzUowgDI8BO7o9Z9GDbeLB5i6gurpKS30zCyvpqCBjrqAXqvwpAmSt3Fb2F7wbb9ClkCBAJz7336sya0QSDExoN%2Fot0GEToGBgMwJXm51sh3jIjb3XM73YuxVyxz7aaTJMjN39zCBvkq%2F4OOOLX638%2BQq3G02mSt2xth2%2FY5kVi3GaRPqO%2BAPJ1iVXAmVZM7hMvha2WgHVM7MmpGjpnETWEBacBHc6e5jxbsjXk5lnQjepKD34nWjgdJqVVyGAPmIXPL7r9zEb%2BLEpeN64RxakkL79OG8LxFnltZPASGVArGo2hcYdttcJpgHvCGwGDsh6NlRlnBEiJmM0mD5MCWf3X2UnuxJTyJNQt8hg%3D%3D&X-Amz-SignedHeaders=host&X-Amz-Signature=dba7e2b5522f641a8776171024c2f74cf6ee152ce59c83df7f128845572689bd

If we take the figures from today’s RNS, then Kabunga held c54.5m shares when he “started” selling in 2019.

ACP updated the Shareholder Information on their site on 15/12/20, and disclosed that Kabunga held just over 49m shares as at that point.

http://armadalecapitalplc.com/shareholder-information

Do people have a view on whether that disclosure was likely to be accurate? If it was, it follows that he’s been shedding shares since then - not great given anticipated news flow, although he may have needed cash for Volt.

If it wasn’t, then it’s monumentally sloppy at best.

As an aside, they are also still disclosing BDO as their auditors even though they resigned on 2 December 20, just before they updated their site. It’s worth noting that BDO resigned because the firm changed to a firm more commensurate to the size of their business, and not because of any concerns.

http://armadalecapitalplc.com/advisers

https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/_nlKMQGCKAHYY3FOqaf1eZOXUeT5a8kBQWuTa1bl114/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3LBNXEFNN%2F20210308%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20210308T224830Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjECUaCWV1LXdlc3QtMiJIMEYCIQDGm855W%2BIBiL%2Fh0jmksz6hdOKiTCJBMDldZjyNKxU2XgIhAPIjism%2B71%2ByAYXT9k2aSPyvJU7epIuRLrwnQ9pvIlJ3KrQDCE4QAxoMNDQ5MjI5MDMyODIyIgwc1pUumALtZHOAOAgqkQMC5LqkLR13Zaa5PwvRXzPblBDYBvp0nP2HHkB0h5%2F7JG1%2BL4CY%2FMU4bfFFTi6HaYxC5RvBnJgTO%2FBiTejV24tP23zYAXiwjGlrNeWQHFESKvJfQix%2BJfJLETXqYCkNXOcv7SpfyrtGFPIf%2B%2BIttM%2FRTEsAbqRAccbuovi8yYI%2B1sUBgKeV5a5RvneSUNSbIWMUAsgxdY4oncqrIH7rIeP%2FBLND3UnoQAMRUnIiKhllbz9GYxy22lxUUhusf5h5PCblVYvW7bbPw1hdnYsosGdMK%2F9S%2FHdBvxRHJLlqUdXKd4EftWW7ZMO53%2BeWDGwVX%2FHYjdwh5ruwYVRvevZOw6gi%2FEFBrG6aVmtFtI6S%2FpD3yKlMJIItnA%2B7omM2ye%2FWsn%2B3gdX60C9qHbuOh%2FM4x4l9oI6bUFC%2Ft1WbnStSlL7gCcKjIi7aO12U8bvYlcc7ZegE1%2FR0%2F8IqdoMXrF3CViwMHLXZ5HtsTQyC5GRrlmgmvcxDGOI8EXPeDQdfgxM1CKoDOG1ZOH%2F2eW3eXxY9qRR%2F9TC6lZqCBjrqAYaUUqTbJBNIvlfEKSy6LxGQ7nFodMhMMVPh%2BALuNzLXH5xijRFcUtYxXsnBt3FcpOoPNsrTrdKxndpknj0rGhe%2FwsrrqLO6BzmPGr%2FXRmPFhbIGp69eJsNKKGfwzZu5rU5RaKNJ62yWb%2FZvGjw5TYT97bJY3CpxIDhUaLV2fISSkRtkt8%2BlllU7MimL5hzR1HYBghIvLhVlCgnR7y3syCigDpVQLhTNMeFFrtE%2FRK2PMeTnpvlBX58s0ZFFh6dVJNVSC1ckYdqPYcFRPfKrDvVtBJQsD2K1nDExKDctu4dzTQU4z4nThfiblg%3D%3D&X-Amz-SignedHeaders=host&X-Amz-Signature=b7907d7d5ad71ec425d235f7a63e3c13c8d0f205da4c3598b92b9f3cb2f4fc5e

I for one could do with a bit of reassurance from the company. As it is it feels like they are low on cash (hence the auditor change), and low on resource (hence the sloppy registry and website management).

It must have been PI's mustn't it. If it was someone accumulating a major position then would they not have to have notified the market?

Thanks Poirot - I’d forgotten!