Member Info for stephen11

Hello Jimi,

You made an interesting point about Sound Energy's actual share price falling below the placing value. If this happens to GDR and they fail to attract the 4.5m from the private investors, I wonder what would happen? Might they go back and ask more from the institutional investors? Cap in hand and begging bowl out?

I know that I am thinking of just averaging down via the open market naturally if I can get close to 25p or even slightly below 25p! This means I am not diluting my own investment.

Anyone else thinking same?

That's my take after Fridays debacle.

I wouldn't trust him to run a bath.

I agree Stars, though I have also seen shares go below the placing price. This is my point.

Thoughts???

Thanks BigAl,

Glad your all doing good. Me, the wife, and kids all doing well. Holidays all over so all back to school, work, porridge!

Let's hope GDR comes good!

Stephen11.

Thanks D-Geeman,

That's good to know. I will keep an eye on my Hargreaves Lansdown account and hope they email me. It would certainly keep things a lot simpler.

As to the future of GDR, I just don't know anymore (still hold hope that the hearing loss device will come good and produce revenue).

Cheers for the reply,
Stephen11.

Hello BigAl67,

I hope you and the good lady wife are keeping well. How did the fishing go during the summer?

I see your point about DB being restricted by the 7:2 rule in the open offer (I hadn't thought it through that far), thanks. There has been a lot to digest recently.

Anyway, I'm going to take profit from other shares and try to average down to around 40p on GDR, by the placing and the open market.

One question BigAl - when purchasing shares in the placing must I use the chosen platform of GDR? In other words, I'd rather have all my investments on one platform, that being Hargreaves Lansdown? Will this be possible? It's years since I bought in a placing.

Stephen11.

At this rate it could drop below the placing price. May as well top up south of 25p.

Stressful times

GLA

As Below:

# The Fundraising is conditional on, amongst other matters, the passing of the Resolutions at the General Meeting
~ The Circular containing a notice convening the General Meeting for 11:00 a.m. on 30 September 2021 will be posted to shareholders on or around 14 September 2021
# The Placing Shares represent 37.9 percent of the issued ordinary share capital of the Company prior to the Fundraising
~ The Issue Price represents a discount of 40.1 percent to the closing price of 41.75 pence on 9 September 2021
# Further details of the Open Offer and the terms and conditions on which it is being made, including the procedure for application and payment, will be contained in the Circular, which shall be posted to Shareholders and made available on the Company's website, www.genedriveplc.com , on or around 14 September 2021

GLA.

This is the part I cannot understand! Taken directly from page 6 of the first RNS on Friday 10th Sept 2021. Sounds alarm bells in my ears.

"All of the Company's Directors intend to participate in the Fundraising either via the Placing or the Open Offer. The GBP sterling amount they each intend to subscribe for is as follows: David Budd - GBP20,000, Matthew Fowler - GBP10,000, Ian Gilham GBP10,000, Tom Lindsay - GBP15,000 and Chris Yates - GBP5,000.

Budd takes a punt with a measly £20,000. How much confidence does he have in the future if he has no skin in the game? What does he do with his £400,000 failure bonus? The rest of the senior management team seem no better.

This is a big worry for me? Directors who won't put there money were there mouth is. I'm in some lithium plays and have seen the directors put in +£100,000 on placings!?

Agree Jay. Indian RNS was a disgrace. Poorly worded and made the SP drop like a stone.

Doom @typo

Just for clarity and to keep things in perspective you appeared on this forum after the shareholder presentation in March and then on September 10th after the placing.

You need called out before you start criticising others. What is your game?

Do you delight in being some sort of PROFIT OF DOME?

Do you actually hold any shares?

The first RNS was a 20 page document when printed out. I have summarised the key points below, for my own information and to help inform others:

# Proposed Corporate placing to raise GBP6.0 million (subject to approval)
~ Proposed "Open Offer" to raise up to GBP4.5 million (subject to approval)
# Two main reasons given for fundraise - final development and commercialisation of the COV 19 POC testing kit and the AIHL hearing test
~ The date of the General Meeting will be confirmed to shareholders on 14th September 2021
# Existing shareholders will be able to apply for 2 Open Offer shares for every 7 ordinary shares they own on the Record Date
~ There will be no placing to the general public
# The CE mark for the AIHL is expected to be received in October 2021
~ The American FDA submission and approval process for AIHL would cost GBP2 million
# UK AIHL potential GBP5 million per annum, Europe GBP30 million pa, and America GBP20 million pa
- CE marking for GDR COV POC expected October 2021
# The company is targeting multiple markets for POC device - travel, work places, elite sport, cruise ships, and emergency care (cost GBP 20-30 per test)
~ 35% of placing is expected to go on rapid development of COV POC
# 15% of placing on commercial roll out of AIHL
~ 50% on the above, other product development, and overheads (dare i say DBs inflated salary/bonus)
# Shareholders can also apply for additional shares (subject to availability)
~ We don't pay a commission in respect to the New Ordinary Shares

# Page 7 - Section 6. Details of the Placing and Open Offer is the biggest shocker for me

--------DAVID BUDD IS ONLY PURCHASING GBP20,000 himself--------THAT DOES NOT SIT WELL WITH ME------

Going to do a similar post on the the second RNS tomorrow.

GLA....whatever your strategy is.

This is bitter sweet news.

“YOURGENE HEALTH surged 6.4pc, or 1p, to 16.75p after it signed a £34m contract with the Department of Health and Social Care to support the Governments Covid-19 testing programme through its lab in Manchester”.

Right next door to GDR’s headquarters!?

I can see your point of view Carlos and maybe I should have used different wording (I am angry at those on the forum who seem to be gloating about other people’s misfortune - that’s all).

I hear what you are saying. I was also berated on this platform for calling out the failure to provide a trading update in July and for criticising the wording of the Indian RNS.

Apologies if I have offended anyone - genuinely.

Thanks Inphobe,

I value your perspective on this, hence why I asked you directly (also appreciated Sally26 and Dave77 input today). Yesterday was a shock to the system for many. I was on a day off and picking up my kids from school at 3pm when I looked in and the SP was in free fall. I am going to print out the two RNS from yesterday and go through with a fine toothcomb.

For clarity I have called this completely wrong in the past and am happy to admit my mistakes (I am currently 75% down). A bitter lesson learnt the hard way about AIM trading. On reflection, I chose to ignore the elephant in the room - namely the need for a placing. No one to blame but myself.

After the investor presentation earlier in the year I strongly believed COVID sales would come flowing in around June or July and save the need for a placing (like soldiers coming over the brow of a hill to save the day). How wrong was I?

However, I began to become suspicious when DB felt the need to crash the SP at 50%+ when the Indian news broke. I get the argument about the Nomad, but the RNS could have been worded more appropriately. Then, I found it strange that a trading update had been provided for the last 4 years in July, although Walbrook/DB said they were not obliged to supply one. August was characterised by a total lack of communication from GDR. It smelt of sh@T and SP manipulation and I regret not trusting my instinct then. Is this legal/allowed?

Happy to be challenged on my recollection of events, but please no gloating from the trolls.

Not sure to buy in big at 25p or wait to see if SP goes below 25p - thoughts????

Stephen11.

…

There might be a few in the morning!

I’m going to take a couple of days to plan my next move with regards to GDR.

GLA long term holders.

I feel your pain.

Serious Question for the long-term holders?

I’m in too deep to take a loss. Should I buy in big at 25p to average down?

Alternatively, might the SP go down below 25p. I just don’t know anymore…I thought I’d seen it all, but for today!

Time to open second bottle of wine!