Member Info for Wolfbag2

My understanding so far

Firm Placing (approx. 11 million shares) DONE
Conditional Placing (approx. 29 million share) - subject to shareholder meeting 14th April and likely to be admitted shortly after (14th April)

Shares in issue have increased to circa 120 million and will further increase to circa 150 million subsequent to 14 April

Admission of the Firm Placing Shares and Total Voting Rights
Application has been made to the London Stock Exchange for the 10,943,295 Firm Placing Shares to be admitted to trading on AIM ("Firm Admission") and it is expected that Firm Admission will become effective and trading will commence in the Firm Placing Shares at 8.00 a.m. on 30 March 2020.
After Firm Admission, the total number of Ordinary Shares in issue will be 120,376,737 and the total number of voting rights will therefore be 120,376,737.

or in process therof

VanV

Qiagen taken over by Thermo-Fisher - and they ARE listed on the NHS doc

https://corporate.thermofisher.com/en/offer.html

https://www.ventilatorchallengeuk.com/

Catapault is a consortium of businesses embarking on a project producing ventilators - the F1 manufacturers are part of this consortium - as is Inspiration Healthcare - they are working somewhat "together" to provide as many ventilators as they can (apparently)

Taff - tis in the RNS "Proposed fundraising"

Use of proceeds

COVID-19 clinical trial activity
£7m
Manufacture of SNG001 drug product and other supply chain considerations
£4m
Strengthened balance sheet for potential partnering discussions with regards to the COVID-19, future pandemic preparedness, and the COPD opportunity, working capital and fees
£3m

General Meeting
The Firm Placing is conditional, inter alia, upon the Placing Agreement not having been terminated and becoming unconditional in respect of those shares. The Conditional Placing and the Subscription are also conditional, inter alia, upon the passing of the Resolutions by the Shareholders at the General Meeting to be held at 11.00 a.m. on 14 April 2020 at The Blueprint Design Company Limited, Martins Barn, Birdham Road, Chichester, West Sussex PO20 7BX and shall be convened pursuant to the Notice of General Meeting to be set out in the Circular and which is intended to be published and posted to shareholders on or around 27 March 2020. The Circular will also be available on the Company's website: www.synairgen.com.
Directors' participation in the Fundraising
The following Directors have conditionally subscribed for an aggregate of 214,285 Subscription Shares pursuant to the Subscription as set out below.

I'm sure I'm not the only idiot on this board and I don't understand the situation but let me try to get this straight- my logic may be a bit disjointed but as I understand it the shares has (agreed to) purchase are "conditional" on a number of fronts - the shareholder meeting in april being one of them but . . . .

If the trials are a FAIL (bear with me on this !) then the shares will tank and the £14million fundraising wont be required (I don't know this but if they aren't going to market then it seems logical they pull the placing) and Licht wont need to stump up 35p/share - additionally he has been able to reduce his existing exposure to SNG in the interim
If the trials are a SUCCESS then the shares will multiply and be worth far in excess of the 35p/share that he is required to stump up

Sounds like a win/win to me

yes SGD - the whole situation, to me anyway, is confusing but highly interesting - I think I can understand why they didn't do a rights issue - time being of the essence and also shareholder appetite - but its a matter of whether IIs and the board (who have a vested financial interest) can carry the vote on the day

My bad - but the dilution won't be priced in until the result of the trials is announced - the price of the share until that point is a bit of a lottery - if the trials fail and the sp drops back (big time) then it won't really matter and they wont require the capital injection anyway - if the trial is successful then it's pretty much name your own price
Interestingly I note that preferred placees specifically make mention of venture capitalists - I think that indicates that there is a gamble involved

sorry previous post should have been addressed to franco

Sharesting - my understanding (and I am no expert) from reading and re-reading the RNS is that the shares have not been issued - the placees have made an irrevocable agreement to purchase at 35 each, this will be subject to resolution 2 passing at the shareholder meeting in April -
30/3 - Firm "placing shares" admitted
15/4 - "conditional" - Admission of shares
existing shareholders diluted - and the mCap increased around 15th April so you can expect around 10p dip (estimate) on the share price around that date (all this subject of course to successful trial - if the trial is unsuccessful then I'm not sure if the placees are still committed)

Ahh Found it - - seems to me definitely NOT a rights issue - pi's (on the whole) will not be asked to participate

"Pursuant to the terms of the Placing Agreement, finnCap, as agent for the Company, has conditionally agreed to use its reasonable endeavours to procure subscribers for the Placing Shares. finnCap has
conditionally placed the Placing Shares with certain existing and new institutional and other investors at the Issue Price. "

Certainly makes sense - he can offload at 50p-40p and then guarantee (as a "relevant person") to pick up as many as he can for 35p - seems a bit twisted to me . . . . .

Not sure I am reading this right and I'm pleased to be corrected, if, with my limited knowledge that I am mistaken - the RNS describes a placing - ie that it will endeavour to get ii's and specified investors to put up for the discounted shares - my understanding is that this is not a rights issue where existing shareholders would get first dibs - Resolution 2 seems to imply this also - and therefore if voted for waives our rights to participate in a acquiring reduced price shares

Resolution 2 - Disapplication of pre-emption rights
Section 561 of the Act requires that, on an allotment of "equity securities" for cash, such equity securities must first be offered to existing Shareholders in proportion to the number of Ordinary Shares they each hold at that time. The Conditional Placing Shares and Subscription Shares are "equity securities" allotted for cash and, accordingly, cannot be offered on a non pre-emptive basis unless Shareholders have first waived their pre-emption rights. Resolution 2, if passed, provides such a waiver.

Link - if it works ?!

https://www.nrttv.com/EN/News.aspx?id=20279&MapID=1

Not sure anyone is in the mood but nevertheless I'll start the ball rolling

Wolfbag 132

I think I've got to say that I've never been more disappointed about winning anything as much as I have on this one - I don't believe this bear run has finished (hope I'm wrong) as I believe it's not about coronavirus but more the combination of an excessively long bull run - Trump/China trade wars - Brexit etc etc - I think Mr Market has long been looking for an excuse to mark down all equities - albeit in six months time we'll all be saying what a wonderful opportunity to BUY BUY BUY !!!

Wolfbag 180
Boyo 185
Hawkey 195
Withoutt 198

Boyo 188
broadland192
Hawkey 194
Withoutt 198
Wolfbag 199 - here's hopin'

Do the math Vince

1000 x £30 is £30,000 - 1000 x £8 is £8,000 - tidy profit but hardly life-changing over 12 years (Divi's excepted)