Member Info for Notperfect

If JH continued to buy after the 5% notification then he may have been holding anything up to, but below, 6% at the time of the placing. Then even if he took no part in the placing he might not have been diluted below 5%. Not necessarily likely but just a possibility if we hear nothing.

Plus, yes it is the investor's responsibility to tell the company when they cross a notifiable level.

dsrt2012
Sorry, I don't have any more details.

dsrt2012/fairview

I quoted the RNS directly which says the funds have been "deployed". I expect Harry has chosen his words very carefully as usual and would have been more specific if it there was something to point to on the ground.

They are described as the ANS Mining Share Company, an Ethiopian private sector company specialising is providing project equity for mining projects. As I understand it, ANS coordinates the funding it provides for Tulu Kapi from a number of financial backers. ANS has said the interest in TK was oversubscribed.

KEFI has described them as - "ANS Mining... is a private Ethiopian company formed specifically for the investment into TKGM alongside KEFI and the Government. The KEFI announcement dated 25 January 2019 sets out the identity of the founding directors and shareholders of ANS Mining such as Ato Zafu (Chairman of United Bank) and Ato Hailemelekot (Chairman of Addis International Bank)."

I doubt they need an online presence. Personally I don't have too many concerns over ANS. They represent financial backers in Ethiopia and will be be closely aligned to the government and its interests.

I'm not suggesting this means the money will arrive promptly but I do think it will happen because Ethiopia wants it to happen. Remember the government has already started paying out - " subscription proceeds have already been deployed by the Ethiopian Government in order to construct a new road of 11 km from the main highway to the Tulu Kapi Project site".

No. That's a completely different company with no interest in Ethiopia.

Hi Spencer,
I think we might finally see this updated this month after the new shares are included (increasing the total shares on issue and perhaps reducing the percentages for all the major holders.) CPI should then be listed at 11.5% if they have the same holding as their last TR1.

Many IIs have strict controls on where they invest and will have a much more rigorous approach to risk management than PIs. They are more likely to watch rather than invest in small MCAP companies which can be more volatile and more illiquid to trade. Bigger investments can't be as nimble as small ones in small companies.

But just because we don't see a holding doesn't mean no one is interested. I'm thinking of something Dan said - if CPI wanted to sell off more he would like them to go through NFX rather than to the open market. Suggests to me he knows there could be interest in a trade sale for CPI's holding in the future.

Yes, it looks like 002 will be the big short term winner for NFX in a deal with Kissei.

Though from the company response to the Times I also expect a new and wider deal with NSB/Yatai (to include the mysterious additional applications from the last 001 pre-clinical milestone). I think this will be more valuable than than just the CINV applications and will explain why the outstanding milestone payments are being incorporated into a new deal.

However, beyond 001 and 002, the potential of the Ebers collaboration is just huge. Ebers obviously think so (... up to £51 million of upfront, R&D and milestone payments, plus long-term royalties of 20% of net sales to NFX). Dan has emphasised the importance of getting as much IP acreage as possible in this space and someone, somewhere is going to transform pain management worldwide based on cbd research. It would be nice if it was NFX. :)

Is it pedantic SD? I have no criticism of anyone who chooses to take their profits when they want to. Taff may well have recovered all his original costs and still have banked a good profit - seems like a sound trading strategy to me.

But it must also show people that it doesn't take many traders like Taff to create a down trend in a relatively illiquid share like this. Instead of always looking for a notified holder to be selling down, there are more obvious candidates putting pressure on the SP who live well below the notification thresholds.

Whimax,
No. Holders should notify as each percent is crossed.
If a seller crosses several percent within the initial notification period of a few days then you may see several percentages covered in a TR1. In this case we're looking at a much longer period and the delay would be far too long.
Bottom line, CPI would have had to provide multiple notifications over this long a period.

I think it would be more difficult to sell if there was a problem. Feels at the moment like a few bored sellers + some general nervousness after the recent attacks in Mali.

We'll see what the morning brings.

maybe even Pettycash ISA...

Yhr money is probably part of the new commercial agreement being negotiated with yatai/nsb.

My guess is this is all related to the extra pre-clinical milestone the Chinese requested in Spring.

Why "undoubtedly", Dave? The last time we know for sure CPI were unloading was mid August.

Dan reckoned they would work with NFX to place their share with other parties if they want to offload again, so it's likely to be a more ordered process (like some of the chunky transactions last week that didn't move the SP).

For me yesterday the sells still looked like PIs. The main limit to the SP at the moment is people's limited understanding of NFX's potential.

cfhmetal

I agree that China is a notoriously slow payer, and not just the companies but also the hefty state bureaucracy for moving money out of the country.

However, with NFX I think it's worth going back to what was reported from the AGM. Plums said "(Dan) understands the market assigning a negative value to the protracted nature of the payment however he indicated that there were more commercial discussions surrounding this, the payment is tied to other potential commercial arrangements".

If it was simply slow payment I think we would have had more updates. With "further commercial arrangements" the radio silence is more understandable. It's likely Dan can't say anything until these arrangements are agreed.

Cdub1

Positive news will bring buyers but it's difficult for any small co to keep its SP steady at this early stage without regular predictable income.

You assume CPI is an aggressive seller but unless we get another TR1 from them I doubt it. I think you said you were at the AGM and it was reported Dan felt they would approach the company to help shift large blocks in the future.

The selling I see is easily explained by the MANY traders in this share. Findahappyplace is a fairly benign example and says he is a small trader but there are plenty of others with big trading pots doing the same thing more aggressively. Some of the rampers will be selling hard into any rises. Many will be trading without any need to post here or elswehere. On the plus side, after presumably selling out on Tuesday it looks like fahp is looking to get back in again so perhaps the traders think the bottom is not far away again. ;)

I expect the broker is a work in progress. To suggest they have no enthusiasm for this simply seems wrong. Everything takes time and as others have said, they may need to progress a little further to get the broker they want.

I think that was the type of company BERM were looking at when they started. Aberdeenman seemed to know a bit about them and mentioned them here a while ago. Now when you click through to their homepage I don't see any mention of cocrystal tech so they may be looking at something quite different now.

smidsy
Are you saying you're happy to see the back of him?

I believe the Spreadex holdings go back to the launch of NFX which used a reverse takeover model. Some of the pre-existing shareholders found themselves with an NFX holding in Spreadex. Those shareholders with no interest in the new NFX instructed Spreadex to sell in order to have the cash. Selling was around 2p for some of those early Spreadex sells. I think holders have been instructing Spreadex to sell at different stages since then. Now they are below 3% no one knows what if anything they have left.

For me if there are any shares left in Spreadex then they are just a few more PI shareholders. They will buy or sell like any other PI now.

Terrific appointment. It speaks volumes on the progress being made on NXP002 that they can attract someone this significant. He will raise the profile of NFX and add extra credibility to the whole programme. He is the kind of addition that will give a company looking to JV NXP002 with NFX a lot more confidence, perhaps even be the tipping point.