Member Info for THGambler

Exactly right Bouncer. The BoD could do so much better and we have been saying this for months/years. We should all learn and move on but there was always the AZ1656 that kept us interested. Now we are at the point where we could see some form of return on that and the BoD are sat on their hands. Next AGM we really all need to think about our votes on whether to retain the BoD in their positions. We were close one time on Brent so the its not an impossibility.

BigDave has already covered this. see below:

Updated Corporate Presentation

https://www.conduitpharma.com/investors/corporate-presentation/

Conduit has a 100% economic interest in all indications under the AZD1656 Co- Crystal, except for a 17% economic interest in AZD1656 for use in COVID-19, which was funded by UKRI and Excalibur Medicines Limited. Conduit does not intend to pursue AZD1656 FOR USE in COVID-19.

Yeah agreed. Although the BoD seem to love leaving investors with a great deal of uncertainty, hardly working with us is it.

Questions they need to answer:

1. Why haven't they exercised option

2. What's the cash balance

3. How will they be funding the wages and running costs

4. What is the plan moving forward.

Obviously there are more questions but if they could just give us some clarity

Yeah I would like to have seen their investment plan knowing they used the last of the cash for Tribe. They must have thought something was going to come off and they would have further funds. They wouldn't be able to do a raise as no one would subscribe to it. Still can't work out why the option hasn't been exercised.

As ever the silence from the BoD is deafening.

Looks like we are long way from seeing any return in this investment then.

The BoD have had to of sold some shares in something as from memory i think they only had enough funds till end of Oct.

Wonder if we will get a quarterly update anytime soon.

100% agree bouncer. I was going to say yesterday that it didn't matter if CDT was 300% up as we don't (as far as we know) hold any shares in CDT. The current facts surrounding the original £2.35m investment in SGSC and the subsequent £400k on the put option is that we have not exercised the option even though we could/can. we have till Feb to do that and if we don't we will still have the 8% royalties on the commercialisation of AZ1656 for covid treatment, but as stated by CDT they will not pursue the Covid route for use in covid. This equates to us having 8% of F all.

There has been questions around the $5-$15 share issue price. I believe we can exercise the option now should we wish BUT if it is the point the vwap has to be within the 5-15 range then we are now sat hoping it reaches that before Feb so we can exercise the option. I said last week the vwap would have been around the $5 mark at some point so we could have exercised which leaves the point the investment would show a paper loss is the reason the BoD are not exercising the option. Which is pathetic as the paper valuation of VELA has never had any bearing on the SP!

Jeez Joe, you need to switch off. Also you completely contradict yourself. Last week you were telling us to have some faith in the BoD now you are telling us they are frauds! Make up your mind

Ok then Joe, CDT up 5% at the time of writing, what we saying?

You are missing the point Jim, even if that were the reason (I don't think it is) the vwap was at some point in or around $5 which would have given the BoD opportunity to exercise the option no?

Not sure where Joe got that from but this is from the most recent RNS:

The option has an expiry date of 7 February 2024. As previously announced by Vela the consideration of £4.0 million, payable upon exercise of the option, would be satisfied through the issue to Vela of new shares in Conduit Inc. and the issue price of the consideration shares will be based on the volume-weighted average price per share of Conduit Inc. over the ten business days prior to the date of notice of exercise, provided in no event shall the issue price for the consideration shares be lower than $5 or higher than $15.

Clearly states the issue price for consideration shares, not the Share Price. Fairly clear to me that the we can't get $4.8m of shares at the current SP which is fair enough as that would be huge dilution to CDT, they have safeguarded themselves to an extent.

Also worth mentioning that it hasn't been impossible for VELA to exercise the option as the vwap was over $5 for considerable amount of time allowing them the chance to exercise it.

What Dave is saying why would CDT pay out cash when they could issue shares. I also can't see them renegotiating, there is nothing in it for them at all.

So the 'chatboards' have talked the SP down to 0.16 but the same chatboards have no effect on price.......hmmmmm

What is CB?

But your charts knew that right?!

What would be nice is some form of update from the BoD on what is happening. They could even incorporate it into their quarterly update!

I have, they don't answer.

Following on from BigDaves post regarding the updated presentation, I may be wrong but VELA interest is only in the COVID treatment side of AZ1656, which if CDT have no plans to pursue it means there is no value to Vela at all, so begs the question why haven't they exercised the put option. I agree they may not want to because of the balance sheet but that is a now just creative accounting. All the value is now on exercising the option and either waiting for the CDT to increase SP or taking whatever value they can out and relook at their investment strategy. Either way there is no value in not exercising the option.

Yeah we definitely cannot rely on the other investments.

Also, thats a large sell at 0.17!!

Too many late nights for Joe, clearly tired and grumpy again this week.

Yeah not sure why joe is trying to over complicate this?! Its pretty much black and white, exercise and get the maximum amount of shares or don't exercise and have a £2.75m hole that needs filling.