Member Info for stephen11

I concur with cj - give Amers a break.

He’s kept us in the loop with what he’s comfortable telling us. I respect that he doesn’t repeat private conversations.

And yes - he took the time out of his schedule to attend both meetings.

Ps…I lost respect for the board when they refused to provide an investormeetcompany meeting at the time of the half year report. And why they didn’t do a fundraise at 1.5p, I’ll never know. A blind man on a galloping horse knew cash was running out 4 months ago!

Rant over

Did David Nugent not say he was away travelling last week.

Maybe that's why he sent his representative - that's a good thing - a man who can delegate.

I quote -

"I don't use HL. I received the same note last night, and it looked like a full allocation, but then when I looked this morning only 8% has been applied.

I asked for £1,000, and got £80.!"

Have you still got those shares after a 60% no vote?

Are you a magician?

60% and above voted "No" for each resolution.

Safe travels if your going to the meeting tomorrow Amers.

I wonder how hard the board actually tried to explore other non-dilutive funding options?

How will the SP react today?

Some of the newbies might be wondering why the no brigade are so passionate for change!?

If you’d been here for 5 years, suffered constant dilution, erosion of share value, false promises regarding commercial traction and numerous failed deadlines, you might feel the same 🤔.

I’d say the no’s to the left have it.

David could be on 20% by Monday for all we know, and then there’s flexi voting 🤔.

With David holding 12.24% from Tuesday, Wednesday who’s to say he’s not up to around 15%, as of yesterday.

That might explain the larger buys yesterday morning.

The vote could be closer than some might think 🤔.

Good to hear from you BigAl

I'm doing well, apart from in this stock.

Hopefully it will come good at some time point

If so, what do you think of all the going's on?

And is Punit still here?

Thanks Amers 👍.

Around what day and time are we likely to hear the results of the voting?

Thanks,

Stephen11.

Out of interest, what percentage of the vote does 22 million shares (£51.92K) get you these days? If it was a buy?

##Massive dilution: The new share issue would significantly reduce the percentage ownership and voting power of existing shareholders.

##Low placing price: The shares are being offered at a steep discount to the market price, which feels unfair to long-term investors.

##No pre-emption rights: The company is asking to issue shares without offering them to existing shareholders first – meaning we miss the chance to maintain our holdings.

##Lack of transparency: Limited detail on how the placing price was decided, or exactly how the funds will be used.

##Timing and urgency: The EGM notice came with short notice, giving shareholders little time to review or respond.

##Board accountability: The directors are asking for broad powers to issue more shares in future – we should question whether this is necessary or proportionate.

##Alternative options not explored: The company could have considered an open offer or rights issue that treats existing shareholders more fairly.

##Share price impact: A large discounted placing may drive the market price down further, damaging existing holders’ value.

##Investor relations: Repeated dilutive fundraises risk eroding trust between management and shareholders.

Points About the RNS and Its Tone

##Unnecessarily heavy-handed: The wording came across as more like a warning to shareholders than an update — it felt designed to pressure people into supporting the fundraise rather than explain it.

##Lack of balance: The statement focused on the risks of not approving the resolutions but offered little reassurance or data showing why the current proposal is the best option.

##Defensive messaging: Instead of engaging openly with investor concerns, the RNS seemed defensive and dismissive of shareholder feedback.

##Creates uncertainty: The tone might unsettle the market and shareholders further, rather than build confidence in management’s plan.

##Better communication needed: Shareholders deserve calm, factual explanations — not communications that feel like ultimatums.

With respect Pension - standing up for yourself and voting how you see fit isn’t woke.

You need to all question how hard the board have looked for alternative funding?

As i say, necessity is the mother of invention?

A no vote will stop the gravy train of dilutive funding, and make the board focus efforts on alternative funding - there inflated salaries will depend on it - make them earn there money.

Or should i say our money, through £50m in fund raises over 5 years

Hi Folks,

The way i see it is, we're funded until the end of 2025 through the firm placing, so lets make the board earn there over-inflated salaries by working harder to get the PI's a better deal on financing - that's why i'm exercising my shareholder right to vote "N0".

### N0 - to the overinflated salaries - a 10% salary deferral is an insult to shareholders.

### NO - to the poor communication and lack of commercial traction.

### NO - to the dilutive funding option.

### NO - to the warrants that will further dilute loyal private investors.

### NO - to all the missed deadlines and false promises.

### NO - to a company who didn't have the balls to face shareholders at the usual half year meeting through an investormeetcompany.

### NO - to the unprofessional communication, like this mornings RNS.

No No No...............................

Don't get me wrong - i've been as loyal as the next man over the last 5 years - and have probably invested more than i should have, but enough is enough.

GLA.

Stephen11.

Why do the board only communicate when their backs are against the wall and they want something?