Member Info for RuckRover

Chester,
We all know what you meant lol!
So, tomorrow, once the additional 23M shares have been issued there will 815M in circulation. If the 15.5p holds, the market cap will be £126 - an all time high.

scousemark,
Last time, we didn't find out until the shares hit the accounts and we were able to work it out for ourselves. I still haven't fathomed how on earth they allocate or why different people got different percentages. I'd have thought the only fair way to allocate would be as a percentage of entitlement rather than a percentage of what you applied for.
(I went for a lot over BTW)

I think the fact that they mention “minority shareholders” before “Scancell” indicates it was them.

bobbust,
I agree. Personally, I'd also want to see what they can do with £25M before chucking another 17.9M at them.
I'll wager they won't get through £25M in the next 2 years.

Falsedawn,
Did the reply just not give any reason or was there also no indication it was indeed them who voted against?

Ray,
I don’t think we want a loser as chairman do we! :)
The SCLP vote will be close but I don’t think we will be told the exact number.

Ray,
"I reckon Vulpes shares on their own were enough to defeat the motion in the first round."
Yes of course, this is the whole point why we need a PI vote (in volume and positive) to get it through. PI's in the first round owned roughly 50% of the company. If Vulpes own 15% of the other 50% = 30% from 100 = 70% = Not enough.
In this second round, after the Redmile conversion, Vulpes could still block it on their own (without a PI vote)

Wednesday,
It is probably a bit late now. Had they done it a few days back they could have used them to vote. The system is quite capable of handling this, as in the case of Vulpes and Redmile.

Scouse,
Yes, it it was very close even a small director purchase would swing it.

C7,
"Anyone (Ruck) know how the figures are looking now "

In answer to your question on numbers, here's how I see it.

We know there was a 59% turnout in the vote on 29th Oct from the RNS.
We also know that the yes vote was "in excess of 70%" from the same RNS.

So let's assume that all the major investors (Redmile, Vulpes, Calculus and BOD) voted. These combined account for 49.58% of votes.
In order to get to a turnout of 59%, it means that 20% (in round numbers) of PIs voted.
To get to in excess of 70% yes votes, means that 80% of the PIs who voted, voted yes.

Now if nothing else changes other than Redmile aquiring another 53M votes, the yes vote would be 74.1%.
So to get this over the line (75%) we need the PI turnout to be 50% with the same yes/no split (80/20). This would give a 75.2% yes vote. If the yes vote dropped to just 79.35%, the overall yes vote would be 74.99%

If you want me to work out other senarios, let me know. To me, it's going to be very close.

From the RNS..
“ while exceeding 70% of proxy votes received, had not reached the 75% threshold required to pass a special resolution”
I infer from this is was less than 71%

Wild,
So even a more foregone conclusion than I thought then.
How do you think the market will react tomorrow falling Redmile’s pincer movement?

Forgot to mention..
An extra 5% of a further diluted share base so in reality more than 5%.

GF,
“ Job done. All resolutions will now pass. ATB”
Well it’s not a foregone conclusion mathematically, but it’s the likeliest outcome. The yes vote needs to be 75% and it was 70%. Redmile have upped their shareholding by an extra 5%. This would seem enough but when you consider the 5% in the light of the original 59% turnout, it is much more. I reckon 20% of PIs voted in the last round. It would need a big turnout and a large no vote from PIs to block this now. Looks like Vulpes have been out manoeuvred, not only by bigger tanks, but more of them.
Let’s all hope that the Redmile investment truly benefits Scancell’s treatments and less importantly us smaller shareholders. Interesting times ahead.

LL,
“ Ruck, When things like this happen, I put in an extra row ”
For a minute I thought you were on about pampas grass lol. Then I realised - spreadsheet sorted 791,917,828 shares in issue, Redmile 29.97%. I can sleep tonight!

Your second post, yes it can takeover, I spent three days fighting my son’s pampas when he lived in France.

I’m not at all happy with Redmile, that split sale has proper messed up my spreadsheet.

Ray, very funny!
I’ve had such a sheltered life - I had to google pampas grass to understand what C7 was on about.

Ray, lol
Crumbs, they didn’t need to sell that many to counter my vote!

Can I just point out, contrary to what some have said here, I’m not a swinger.

2cv,
“ can we assume that they have enough votes without them ?”
No, they have converted the most they can without exceeding the 30% threshold at which point they would need to make an offer for the company.
The vote could still go either way. Don’t forget the PIs combined hold the largest amount of shares.

Konar,
Or, rather than buy their stock, just convince them to vote their way.