Member Info for Ssccss

Mint are forward selling the shares. They aren't holding them. Hence no TR1. I don't think any knows where the shares are going to. I don't know what the rules would be with regards to transparency. I assume no one buying the shares has enough to trigger a TR1.

One of the triggers for this situation was also Global co not taking the option. This caused the initial drop which Mint have taken used to their advantage.

Why the assumption of £1m net profit from the mice for 2021? Also, our mice aren't any different to other mice with human immune systems which other companies have? Or am I missing something?

Pumpky mentioned the mice only had an income of 88k.

Use of proceeds

The Facility will allow the Company to bring even greater focus to bear on scientific and commercial advances. The funds will enhance Hemogenyx Pharmaceuticals' control over its intellectual property assets under development and give it greater choice in determining what strategic partnerships to pursue and on what terms, enabling it to achieve maximum shareholder value.

Hemogenyx Pharmaceuticals has been successfully progressing in its development of its CDX antibody candidate ("CDX") and its HEMO-CAR-T product candidate. In addition, the Company has carried out considerable preliminary work on the development of its cell therapy platform as a novel means to allow the programming of immune cells to target both viral infections, including COVID-19, and certain types of cancer.

The Company intends to use the net proceeds of the issue of the Convertible Loan Notes to accelerate the development and marketability of its product candidates as follows:

§ Achieve clinical proof of concept for the Company's CDX bi-specific antibody product candidate if and when needed, including:

§ completing Investigative New Drug ("IND")-enabling pre-clinical studies that are needed in order to file an IND application requesting authorisation from the Food and Drug Administration ("FDA") or other applicable regulatory body to initiate clinical trials and administer the Company's CDX bi-specific antibody to humans;

§ filing an IND; and

§ completing Phase I/IIa clinical studies aimed at achieving clinical proof of concept and advancing the CDX bi-specific antibody toward later stages of clinical trials including Phase II and Phase III.

 

§ Achieve clinical proof of concept for the HEMO-CAR-T, including:

§ completing IND-enabling pre-clinical studies in collaboration with the University of Pennsylvania ("Penn");

§ filing an IND; and

§ completing Phase I/IIa clinical studies aimed at achieving clinical proof of concept and advancing HEMO-CAR-T towards later stages of clinical trials including Phase II and Phase III.

 

§ Achieve pre-clinical and clinical proof of concept for the Company's cell therapy platform (referred to by the Company as "CBR"), including:

§ completing the development and validation of CBR as a novel platform that allows the programming of immune cells to target either viral infections or certain types of cancer;

§ completing IND-enabling pre-clinical studies of an undisclosed CBR-based product candidate;

§ filing an IND; and

§ completing Phase I/IIa clinical studies aimed at achieving clinical proof of concept and advancing the undisclosed CBR-based product candidate toward later stages of clinical trials including Phase II and Phase III.

 

§ General working capital purposes

 

Pokerchips, I think the original thinking was that Hemo had done well to get a £60m loan and that it would give them some support in their negotiations with Global co. I think Hemo appeared quite pleased with the Mint deal as Vlad states in one of the interviews, they had been offered 6 or 7 finance deals but Mint was the best as it was the cheapest.

If it gets to 1p, the SP will rise again and Mint will take advantage IMO. 1p is undervalued obviously.

Each of the Convertible Loan Notes is convertible into ordinary shares of £0.01 (1 pence) each in the capital of the Company ("Ordinary Shares") at any time during the period commencing on the fifth business day following the relevant Issue Date and ending at 5.00 p.m. London time on the business day immediately prior to the relevant Maturity Date (the "Conversion Period").

I was under the impression the nominal value was 1p.

It's obviously a great entry point for a long term holder if they believe in hemo products and are willing to take the associated and now known risks. I would get in now too (a small amount) if I wasn't already so down that I have to time my averaging down extremely well in order to have a hope of salvaging my original investment.

I don't know the answer Poker. It's a mystery so far.

Mint don't keep the shares Donni, they are not investing. They are forward selling them. Not sure who to but no TR1's as yet.

Hemo have drawn down the first tranche of £12m, which means they now have this money to use. As far as I am aware that have not drawn down anymore and an RNS would be issued if they did. Mint have converted nearly £4m of the £12m. So just over 2/3 left to go. However, at the moment shares can only be issued at 1p and above, so not sure what happens if SP gets to around there before Mint have finished. So, yes looks like it is probable Mint will convert again. They seem to like the low SP as it's better value, can convert more shares. It is also their job to make money on this deal as there is no interest on the loan. However, no one actually can say for certain what will happen next.

Could be a sell MrIndia.

Thank you Pokerchips.

Tuan, Mint can only convert at 1p or above?

Yes, you did say that all last week :)

George, apparently I have a very low IQ, so it can't be me ;)

People are only trying to help. There will be a point when Mint cannot convert anymore or have done the £8m, then will be the time to average down. If anyone is interested in buying Hemo, that would be the time for them to make an approach too. For now, just let Mint get it over and done with.

Yes cheapskater, unfortunately it seems many investors on here still don't seem to understand about the CLN or keep conveniently forgetting about it.