Member Info for PhilBanks

Agreed, but I'd rather it was flying from a 300p baseline as opposed to a 200p (or wherever it is when the dust settles) baseline.

I asked the company direct but didn't get a response

When you're above certain thresholds you have to report and further increases or decreases in holdings of more than 1% I think.

I would like to see the Woodford holding taken out by a number of different IIs. If a large pharma took that level of stake in the company I would be concerned about the prospects of a takeover on the cheap, which I think could be a genuine prospect if the company isn't careful.

Are we expecting cohort 2 data to be released as part of the prelim results then? I didn't really know how to read the RNS, wasn't sure if they did that every year. Any LTHs care to confirm one way or another?

Account A: Number of shares multiplied by average (18p)
Account B: Number of shares multiplied by average (23p)
Account C: Number of shares multiplied by average (28p)
Total value of A+B+C / total number of shares held in all three accounts = your overall average.

So does this mean that the industry recognises the hrpc development as the most significant biomedical breakthrough this year? If so, what greater endorsement could we possibly get!?

It's not dropping, it's just in a tight trading range. Bollinger bands narrowing, pressure gradually building, eventually it will pop and there will be some explosive action (see January to March 2017 as a textbook example).

I think 'Woodford-gate' will be a factor for months unfortunately. However, if the right pieces of news come out with regards to Cohort 2 results and further licencing agreements, then the shorters and fear-mongers will have no option but to disperse. Ultimately, a company will be judged on fundamentals, and Woodford-gate does not affect the fundamentals, it only affects the sentiment and is therefore, by definition, temporary.

Tried a dummy sell on HL and was offered 242p, so safe to say it was an error in the system somewhere. Momentarily exciting at least.

Can't be right? Is there some news we're missing or is this a blip or what?

Good find - thanks for sharing grizzlyb

Yeah, I've now given up trying to work it out. The company will run everything past their lawyers to make sure we are compliant with the regulations. For whatever reason we've not had one, and for some reason that must be fine...

'A person must notify the issuer of the percentage of its voting rights he holds as shareholder or holds or is deemed to hold through his direct or indirect holding of financial instruments falling within DTR 5.3.1R (1) (or a combination of such holdings) if the percentage of those voting rights:

(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% (or in the case of a non-UK issuer on the basis of thresholds at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%) as a result of an acquisition or disposal of shares or financial instruments falling within DTR 5.3.1 R; or
(2) reaches, exceeds or falls below an applicable threshold in (1) as a result of events changing the breakdown of voting rights and on the basis of information disclosed by the issuer in accordance with DTR 5.6.1 Rand DTR 5.6.1A R;
and in the case of an issuer which is not incorporated in an EEA State a notification under (2) must be made on the basis of equivalent events and disclosed information.'

If Rene classifies as a 'non-uk issuer' then the threshold would have to be 5% seemingly. Any 1% increase or decrease for holders of the minimum thresholds would have to be announced.

I think it's one of those things where the more you read the less you actually understand it.

Right, I'm going to stop in a minute I promise:

Section 4(2)of the Companies Act 2006 - (2)A “public company” is a company limited by shares or limited by guarantee and having a share capital—
(a)whose certificate of incorporation states that it is a public company, and
(b)in relation to which the requirements of this Act, or the former Companies Acts, as to registration or re-registration as a public company have been complied with on or after the relevant date.

So yeah, don't know where we stand.

BTW, I don't really know where that leaves us, as there's been a trade of 3.3% and the market hasn't been informed in the necessary time frame - unless somebody else knows of caveats or other definitions or clauses we should be aware of?

To go back to what I posted last week:

"'The notification to the issuer shall be effected as soon as possible, but not later than four trading days in the case of a non-UKissuer and two trading days in all other cases, after the date on which the relevant person:

(1) learns of the acquisition or disposal or of the possibility of exercising voting rights, or on which, having regard to the circumstances, should have learned of it, regardless of the date on which the acquisition, disposal or possibility of exercising voting rights takes effect; or
(2) is informed about the event mentioned in DTR 5.1.2 R (2).
And for the purposes of (1) above a person shall, in relation to a transaction to which he is a party or which he has instructed, be deemed to have knowledge of the acquisition, disposal or possibility to exercise voting rights no later than two trading days following the transaction in question and where a transaction is conditional upon the approval by public authorities of the transaction or on a future uncertain event the occurrence of which is outside the control of the parties to the agreement, the parties are deemed to have knowledge of the acquisition, disposal or possibility of exercising voting rights only when the relevant approvals are obtained or when the event happens.'

So 2 trading days if domestic, or 4 if overseas. So I make that either by the end of today, or the end of Monday."

The issuer is actually Rene, so the point about whether it should be 2 or 4 working days I now believe is moot. Definition:

'(1) references to an "issuer", in relation to shares admitted to trading on a regulated market, are to an issuer whose Home State is the United Kingdom;
(2) references to a "non-UKissuer" are to an issuer whose shares are admitted to trading on a regulated market and whose Home State is the United Kingdom other than:
(a) a public company within the meaning of section 4(2)of the Companies Act 2006; and
(b) a company which is otherwise incorporated in, and whose principal place of business is in, the UK;'

https://www.handbook.fca.org.uk/handbook/DTR/5/1.html

Not sure, but the one thing we can be certain about is that these rules exist to benefit and be exploited by the institutional investors and not the private retail investors. As always we will be the last to find out anything.

Think the regulations say 'as soon as possible one the company or the buyer/seller is aware of a threshold being crossed etc etc, but no later than 2 trading days for domestic investor, or 4 days for overseas'. So basically they nearly all just wait until the last minute to announce it.

Think they have until this evening to announce it?