Member Info for Rokerpark68

Hi guygad

Sorry, only just seen your post from Sunday.

I did have a position in Okyo but sold it on Monday. Keeping my eye on developments though. May well come back to it again before too long.

Regards

Let's hope for the happy ending at £10 per share!

ATB

Good morning Bluebelly,

I don't normally post before having breakfast porridge in bed with Mrs Rokerpark68, but she's fast asleep so here I am.

I'm afraid I don't recognise the scenario described in your point 2. Successful, well-run companies just outgrow their early PI investors by attracting institutional/professional/HNWI money as their organic growth potential begins to come apparent and their rising share prices create fund-raising opportunities. Alternatively such companies have founders who place large tranches of stock with new institutional/professional/HNWI investors to create meaningful position size and market liquidity for those investors. I have said a number of times GC needs to go this route, as his huge influence and control over the company probably now just puts larger investors off. It would put me off, particularly as TILS's governance is below par. In short, good, well-advised companies don't need to try and clear-out PIs off by manipulating their share price down for long periods.

Also, you mention "employees at investment houses that have multiple accounts". Apologies if I have misunderstood you, but I worked for a large investment house and by the end of my career it was virtually impossible for a fund manager like me or ANY employee to trade individual stocks on Personal Account due to draconian individual trading restrictions which, when required to be, were enforced absolutely ruthlessly. It's one of the reasons I retired early - I wanted to invest on the stock market for myself rather on behalf of my institutional and professional investment clients.

On the other hand Bluebelly, you may be right. There may be an algorithmic campaign against TILS and a conspiracy by the board and its advisers to drive the share price down, but I'm basing my recent position re-sizing on what I have seen the board and its advisers actually do over the last 14 months - and although the science is interesting and could well come good meaning that TILS is sold for a great price, at the moment I just want to see them deliver on listing Accustem before I consider increasing my holding again. I have a feeling that what happens with Accustem will be a key moment for TILS - if the listing isn't delivered then the board's credibility will be toast and the company will find it hard to attract any larger investors going forward - unless of course they ultimately have a fantastic result somewhere in their pipeline.

As I said, you could write a book on TILS. It's a cracking case study for all sorts of reasons.

Oops, Mrs Rokerpark68 wants her porridge. Better get in the kitchen.

Hello Sporty66,

I enjoyed reading your posts today which were really thought-provoking - thank you.

Even though I've been in this business a long time - i.e. a 34-year City investment career until I retired a few years ago - I still find that my sentiment towards a stock can change quite quickly even if I have considered myself to be a LTH for some time.

Like with most longer-term investors, it's generally a result of an accumulation of things which work away in my mind until there comes a tipping point when I have to act. This has happened with TILS during the course of this week.
Although the pipeline may well be very good, I have been disappointed repeatedly by the board's lack of attention to detail and timelines. I have posted many times that TILS need new financial advisers, brokers, PR professionals and a new COO to professionalise its corporate activities, but I've always accepted that unless GC wants all that to happen, it won't.

Even if the pipeline is good, value creation at TILS is now mostly about execution of the company's business and financial plan, but I have lost some confidence in the board's ability, as currently constituted, to deliver it. The situation with Accustem has really got under my skin now in particular - a badly executed demerger with confused and delayed follow-up.

I also took a lot of comfort previously from the fact that institutional/professional investors made a big commitment during the fund-raising last August, but I was disappointed to see some of those investors sell-out at the turn of the year.

I could write a book about this investment given its twists and turns, but it is preoccupying me too much now even though I have always sized it very carefully given its higher-risk nature. I was fortunate enough to top-slice at 268p last year and again at 168p, so even at the current TILS price I am at break-even with the potential (I hope) for some upside through what is a considerable Accustem holding. With hindsight, I should have sold more at anything above 150p.

The upshot of all this is that I sold 80% of my remaining TILS holding today, just leaving some across my portfolios in case there is a very pleasant surprise around the corner.

GLA on this - hopefully it will turn very good again for investors, but at the moment I am just going to mostly sit it out until the board actually shows me it can finally deliver on Accustem.

As a continuing holder it's not in my interest to talk the TILS price down - just offering my honest views for those who care to read them. If you disagree, fine by me of course.

ATB

Nice SP movement so far today. I'm confident that BMY has good momentum in its business which should lead to further growth. The more I research the company the happier I am with my holding.

Excellent trading update this morning. This business is firing on all cylinders and operating in attractive markets.

Great numbers again. The current share price looks very well underpinned. Tempted to add more.

On page 83 of the filing you will see that the entire "Realisation" bonus of $13.5 million went entirely to GC in shares under an agreement originally struck between the company and GC in 2016. Although there is a generic explanation of the basis of how the amounts under the agreement are calculated on page 83, I can't how work out yet how the $13.5 million was arrived at. The shares seem to have been awarded at around $2.85 per share.

It does indeed seem to relate to fund-raising activities.

Hello again guygad,

Today's Admission Document gives full details on the company's share capital and the extent of the potential dilution. See page 27.

I appreciate that you would obviously expect Takanawa to be upbeat about this initiative, but I think this wording in the RNS is particularly encouraging.

"We are honored to get the opportunity to identify a strategic partner for Milciclib for the treatment of advanced hepatocellular carcinoma (HCC) patients. Tiziana has managed to develop a product that will really have an impact and save lives since HCC affects about 200,000 people in the world and 40,000 people in Japan every year. Therefore, we hope to receive a lot of interest from leading pharmaceutical companies " said Dr. Kaoru Nozu, Executive Representative of the Takanawa Pharma Team.

Good to see this sort of initiative - Takanawa's pharma consulting business looks very well-connected.

Encouraging from a number of angles.

Hi LBC
The frustrating thing for me is that making the necessary changes to improve governance are pretty obvious and straightforward to deliver. There is no need for the share price to be neglected in this way - GC can still control the company even if it has tighter governance. You can get away with neglecting the share price for so long, but it can ultimately come home to roost when a company like this has to raise equity at a time it has no immediate lever for boosting the share price....

I don't expect any better any more, and I haven't for some time now. I stay with TILS as a LTH because its science might come good and could be very valuable. If it does, great. If not, so be it and I'll write-off any loss. I am willing to hitch myself to GC's wagon because he is 100 times the entrepreneur I could ever be and I am fortunate to have access to his skill-set through the listed markets, warts and all.

Governance-wise I accept the negative issues created by having a dominant individual shareholder e.g. sub-par advisers and brokers who probably don't challenge meaningfully, no heavy-hitting COO or CFO, dismal homespun PR etc etc.

The person driving the Accustem bus, along with the Tiziana bus, will be the major, dominant shareholder of both companies, Gabriele Cerrone. Same with the Okyo bus. He has a fleet of buses, which is his strategy.

There are lots of potential reasons for the Accustem listing delay. It's pointless to speculate really, because from the outside it is impossible to know. I could give you a list of possibilities, but I just don't know. The only thing for sure is that whatever does happen with Accustem, it will be something GC will have to be happy with.

Tickets please.

Neither of the two recent RNS announcements about Accustem have mentioned a date for the listing. It will be when it will be.

Today's fireside chat is most likely just part of the board's communications cycle. Anything which is an RNS Reach announcement - i.e. non-regulatory - is unlikely to be really material. In the LSE's own words:

"RNS Data Vendors & Consumers Reach is an investor communication service aimed at assisting listed and unlisted companies to deliver non-regulatory news such as marketing messages, corporate and product information. It is based on the existing RNS UK-Regulatory service and has the same levels of efficiency, control and broad dissemination."

As soon as I see the Reach orange box next to any RNS announcement on the LSE announcements page I usually move on pretty quickly.

Couldn't agree more. Sound strategy, strong profit and cash flow momentum, experienced management and a solid balance sheet. Surely more to come in terms of SP appreciation over the next year or so.

Very pleased with my holding here.

This looks like a very attractive disposal valuation.

Hi Greend100,
It has indeed all gone eerily quiet, but I 've no doubt there is a lot going on under the bonnet here. All the regulatory authorities across the world must be stretched after being inundated with approval requests, so I guess TILS will have to face this constraint like everyone else. Perhaps a big pharma collaboration is on the cards as you mention - must be a real possibility given the apparent quality of the science.
I continue to hold as before - the upside could still be very exciting - que sera sera. Bottom drawer.

Hi again,

No problem - this whole saga has become so complicated it's getting ridiculous.

Cheers

RokerP

Hi Trade Phoenix,

Sorry, don't think so.

The 20-F facilitates the distribution of Accustem shares to US TILS holders. It isn't a filing for listing. Once the distribution is done then they can proceed with a listing . As they said in yesterday's RNS, they "intend" to file a listing application . If they had done it already they wouldn't say they were intending to do it.

"NEW YORK and LONDON - 30 March 2021 - Tiziana Life Sciences. (NASDAQ: TLSA; LSE: TILS), a biotechnology company focused on innovative therapeutics for oncology, inflammation, and infectious diseases, is pleased to confirm that, in order to finalise the distribution of shares in Accustem Sciences Limited ("Accustem") to the holders of Tiziana shares in the US via its ADS program, it has recently filed a Form 20-F with the Securities Exchange Commission in the USA (the "SEC"). The Form 20-F (which gives full information about the business of Accustem), can be found at https://sec.report/CIK/0001850767.

Once the SEC has approved the Form 20-F (or it becomes effective), the final aspect of the distribution will be complete and Accustem will be an entirely separate entity and will move forward with plans to secure its own listing."