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I agree Professor, and wonder if that's why DN was still increasing his stake at this these levels.

So, Mr Nugent intends to buy £1.5M of shares in the fund raise and also convert his £0.5M loan into shares. Yet he's still bought a further 10M shares, to take his stake from 16% to 17%. Surely this can only be because he thinks the SP will not be down at this level for much longer. Is there another explanation?

Wow. David Nugent is still adding to his shares! That's a real vote of confidence by someone who has seen all the information having signed an NDA.

Regarding valuation and SP, many things are in the realms of possibility.

The Crown Prince of Saudi Arabia may decide he likes the company and wants it and offer us 1 billion or 2! Conversely, Trump may decide the USA needs to have this technology, invade Manchester and take it from us, leaving us with nothing!

In the past any SP rally after positive news has been stopped by the questions of an imminent raise. Mssrs Nugent and English will be all to familiar with that. I think there may be good news coming re. Saudi Arabia hospital numbers for trial, NHS trusts re. CYP2C19 or from abroad - eg. Spain. Perhaps it's with that in mind that they have clarified the funding earlier. I was pleasantly surprised as we all know GDR tend to leave such announcements until the last possible moment.

That's a great find Lionel. That hospital is in Barcelona, Spain? Not a country that's been mentioned previously. This is further evidence that the Genedrive POC is gaining traction internationally.

Perhaps it's this kind of information that convinced Messrs Nugent and English to put up so much of their own cash in the funding.

The future is bright. What always hung over GDR like the sword of Damocles was long term funding and the need for repeated placing. It really does look like this latest round could be the last before the company is self sustaining.

I think the market is reacting well to the news. The SP higher than just before RNS.

This is excellent news! Demonstrates huge confidence by both as well as BOD.

Thanks Lionel,

Sonic Healthcare website states:

"Health Services Laboratories (HSL) is a partnership between The Doctors Laboratory (TDL), Royal Free London NHS Foundation Trust (the Royal Free London) and University College London Hospitals NHS Foundation Trust (UCLH). It provides diagnostic pathology services to its NHS Trust partners and customers."

On the strength of that, we should expect these two large London Trusts will be using the Genedrive POC?

This is a independent assessment of the POC that is highly positive. I would have liked to see that highlighted in an RNS.

Hi Lionel, that's a fantastic finding. When was it carried out and where was is published please?

Okay, thanks Winni and Amers. I'll vote via the broker then and waste my time.

Hi Amers, I understand you are going to the AGM. Do you know DN is attending? I'm thinking of going as I now have the day free but it'll be a long drive from Cambridge. Do you think it'd be beneficial in learning more about the company's plans and timetable and meeting the BOD? What's your experience been of previous AGMs please? Many thanks.

The BOD have shown contempt towards shareholders, both with the proposed 4 billion dilution, manipulated to favour chosen new entrants, and then with the attempted blackmail statement - which I hadn't picked up on before Guy mentioned it.

However, there's no way we're going to get an apology or even acknowledgment of that. I think this new interactive investor hub and the acknowledged need for "open and transparent communication with our shareholders" is the best we're going to get in terms of an apology. Let's hope they stick to that sentiment and that DN holds their feet to the fire if they don't.

Hi Amers, if you're at liberty to say, are you aware of multiple shareholders offering loans short term or long term? We know of DN but are there others? Gino also indicated more than one person has signed NDAs. Could it be that the BOD are not as desperate as it seems and they could be considering multiple loan offers?

Something new in the presentation that was alluded to by Gino and Russ was that they were speaking to more than one large shareholder about a loan and for longer term finance.

Realistic Outlook:

Uptake may start patchy (10-20 sites in 2026) but accelerate via peer pressure, cost savings (~£200/test vs. lab), and post-pilot reviews—potentially reaching routine use by 2027 if pilots confirm ROI. Not a deal-breaker for Genedrive, but revenue ramp slower than fully national lab commissioning.

I agree with you stocksaint, I expected some warrants for DN's efforts. The fact that he's willing to lend the money on such generous terms indicates that the BOD must have convinced DN that something great is just round the corner.

Whatever is expected Jimi, it must be imminent; early next year sounds about right. I note DN is loaning the first tranche without any fee or other consideration - so he must be convinced there's something else in it for him; something significant will happen within that period that will increase the value of his holding.

Exactly Jimi, there'd be no need to do the loan over two tranches, unless the BOD thought the 2nd one may not be needed. There must be positive news in the pipeline...

Interesting that DN said “… ensuring that the Company has the financial and other resources it needs to deliver for patients and shareholders." What other resources?