Scancell Share Discussion Threads

[timbo003] 11/10/2017 17:09

A few notes from my post-AGM discussion with RG (note this is not a verbatim account)


Q: The RNS regarding the recent placing stated that it was over-subscribed, that says to me that the price was too low, how over-subscribed was it?

A: It was around 20% oversubscribed. When we started taking about the placing, the shares were trading at around 15p, then there was a general dip in the market (probably general election related), otherwise we would probably have got the placing away at a higher price.

Q: I think most private investors realise that placings may be required from time to time, but what they do find upsetting is when there is a placing at a rock bottom price and they do not have any opportunity to participate. The broker will always discourage you from include an open offer component (they don’t make any commission on open offer money) and they will always tell you that open offers are very expensive. Have you considered using Primary Bid, which is a next best alternative to an Open Offer and everyone benefits?

Typically what happens is the broker raises around 80% of the funds required and Primary Bid looks after the remainder. The broker still gets a commission from the Primary Bid portion, (albeit at a reduced rate) and PI’s can participate under the same terms as the institutions and private clients in the main placing and they pay no dealing costs.

A: Agree with your comments regarding brokers, we were not aware of Primary Bid, it sounds interesting, please send details.

Q: Tell us more about the “adjuvant” options for Moditope, strictly speaking shouldn’t they be called something other than “adjuvant(s)” as they are covalently bound to the peptides?

A: Yes, perhaps they should be called something other than “adjuvants”. We have looked at numerous different “adjuvants” and have identified a number of different candidates which enable us to administer a much lower dose of Modi, some of these are proprietary some are not, I suspect we will end up using a proprietary “adjuvant”.

Q: Have you or will you file new IP on this?

A: If we use a proprietay “adjuvant”, that is not the intention as the IP is already covered by the “adjuvant” provider.

Q: Is the “Adjuvant” provider Allergy Therapeutics and or are they a listed company?

A: It is not provided by Allergy Therapeutics, I cannot say any more for now, details will be released at the appropriate time.

Q: Is the “Adjuvant” in any product that has received Marketing Authorisation?

A: No, Modi would be one of the first products and so it would be assisting the “adjuvant” provider with establishing POC.

Q: What about the Ichor device, is there an alternative?

A: If there was a viable alternative to Trigrid that was more patient friendly, we would definitely be looking at it, or even using it.

Q: One of the last slides shown had a bullet point about a payment to Curara, who or what is Curara and how much is the payment?

A: Curara are part of the Karolinska Institutet, the payment is for a licence to use a proprietary citrullinated enolase peptide, the payment(s) do not amount to very much.

[agema] 11/10/2017 15:38

Lozan,

Yes. Funding is still the deal maker or breaker.

Best wishes.

[chelsea35] 11/10/2017 15:35

Hmmm, think it is being sorted. Quite some statements to make by the BOD, and no nothing like that expressed before. AIMHO

[the real lozan] 11/10/2017 14:45

Hello Tosh, Agema et al
Just popped by to say hiya
Guests have shot off to the Med for a few days
No rain at all this October { just one morning of misty drizzle - but soon back to wall-to-wall sunshine}
They said -"Isit always this hot here'???
"No,in summer, it is much hotter" I replied
.
One is never going to gain much REAL info from an AGM
One should never try to put 2 and 2 together to make 5 {as *WE* see certain folks referring to 'Signs, Signals,Bet the FUNDING is sorted.. ETC ETC'
.
Of course, FUNDING is not sorted... until IT IS SORTED
and then, and only then, do *WE* know = *At what cost" ???
.
FUNDING *IS* still the issue

[tosh123] 11/10/2017 14:23

A... agreed.
theres no sale pending, and the next few months will definitely dictate how the company progresses or regresses.

[agema] 11/10/2017 14:17

It’s alright getting a deal done. But at what cost to Scancell, bearing in mind it is now overdue. What potential dilution lurks beneath the muddy waters.?

If a sellout was in sight RG would not be handing over the reins. So that is now out of the equation.

The next couple of months will be very interesting.

[tosh123] 11/10/2017 14:04

Agema,
the same thing was going through my mind whilst i was listening, but all joking aside, i dont think so this time.
Everything hangs on getting a deal done before Christmas.IMHO.

[agema] 11/10/2017 13:56

Tosh.

It probably means there will be a placing or cashcall before that time. Knowing RG. Lol.

[chelsea35] 11/10/2017 13:10

tosh, good. Thought you hadn"t listened to it. Some very big claims, and more news than we have had RNSed all year. RG sounded the best he has for some time IMHO

[tosh123] 11/10/2017 12:42

Having just listened to the AGM ( many thanks to the guy that took the time to post it by the way, much appreciated ),and although there was the usual " this time next year Rodney " stuff being touted, i have to confess that this time , maybe, just maybe, something may evolve out of it.
RG and Co seemed to be pretty confident of handing over the reigns to the new guy with a sizeable chunk of cash in the bank. Of course RG has always sounded confident, and has never delivered, but to intimate a specific time period eg Jan 2018, is something a bit different from previous promises of great wealth.
Here's hoping that RG bows out having finally produced something... Fingers crossed.

[torquayfan] 11/10/2017 12:06

Kreature your allegation about RG and cowardice in post no. 11960 is quite disgusting. Perhaps you have listened now to RG's assured if not consummate performance at the AGM and will retract ? You are truly ''King of the Keyboard Hooligans'' closely followed in lack of skill and wit by the rest of your ilk.

Well said Wigwammer, Bermudashorts and all posting with some balance.

[chelsea35] 11/10/2017 10:02

Tosh, weird post. Agree with wigwammer

[wigwammer] 11/10/2017 09:55

"Lets just see whether RG plays any role in todays AGM, other than to sit in the corner." (Tosh)Anyone who attended the AGM, or listened to the recording, now understands your capacity to post total bilge.

[wigwammer] 11/10/2017 09:52

Timbo/Steve - many thanks for posting the recording and thanks to those who asked questions.

[tosh123] 11/10/2017 08:59

Wig,
as i have said many many times before, " i have enough shares here already "... i dont need, nor want any more, furthermore, there is nothing from the AGM that we haven't heard before, its still jam tomorrow, words are cheap, lets have something delivered !

It amazes me that year after year the company spout the same old tripe, packaged up in a different presentation, and people get all enthused by it. Just take a look back at the last 4 AGM's, they are all pretty similar in their message, yet here we are " again " being asked to lap up the same old stuff.

IMHO, the new guy has 6 months, its that simple. If there is no confirmation of a deal by then, we're into fire sale territory.

As for RG, IMHO, he was most certainly ushered to the door. The age thing is pure nonsense. And as for him remaining on the BOD, this happens quite often in smaller companies, so there's nothing out of the ordinary there.

[terror] 11/10/2017 08:43

I think the AGM feedback highlighted what has been said many times before. Strategy was wrong, Goodfellow is incompetent, funding is the big hurdle and the ASTUTE have been right for years.

[chelsea35] 11/10/2017 06:14

timbo, it is a very good recording, and a very informative AGM. Look forward to you posting about the conversation. ATB

[timbo003] 11/10/2017 00:00

Steve67 on LSE has kindly provided a fairly decent recording of today's AGM, including Q&As:



There is little point in writing notes on that part of the meeting when the real thing is available, however, I did get the opportunity (along with others) to talk to RG after the meeting, so I will endeavor to write something up on that conversation when I get a mo'

[panama7] 10/10/2017 23:33

Bermuda, fair play that is an excellent response, but the fact remains no matter how hard Goodfellow tried he did not achieve many of his stated aims and has cost some investors a lot of money.

[wigwammer] 10/10/2017 18:03

Wait for it..."I have enough freebies already"Yawn.

[bermudashorts] 10/10/2017 17:55

Tosh,

You guarantee that major shareholders were involved in his removal? Quite a statement - do you have any evidence? Two options here:-

1) RG has planned for some while now to step down as he is way past normal retirement age. The signs were there if you bothered to look. An orderly handover has been planned, hence the announcement at the AGM.

2)He was ousted, helped along by major shareholders and is about to start selling his stock.

You say that you have experience in business. When was the last time that you saw a CEO kicked out who was allowed to (and was happy to) stay around and run the AGM? Or who continued running the Company? Or who was given a seat on the Board? Do you really think, especially given the confidential nature of the IP involved, this could be anything but a natural progression of events?

Either way, you should be happy - it's exactly what you and others wanted isn't it?

I am convinced that nobody will be more disappointed than RG that a deal hasn't yet materialised here. No matter what you think of him, you can't deny that he has worked tirelessly to try and secure that deal and support the development of the tech. He also has to be one of the most approachable CEO's on AIM.

[wanderer1210_0] 10/10/2017 17:51

Tosh he's still on the BOD so I suspect still on the gravy train.

[tosh123] 10/10/2017 17:18

Wig,
furthermore, i guarantee you that the major shareholders would have been involved in the process, which goes even further to reinforce the feelings of many on here that the man had lost credibility.
Its just a shame that they left it this long. This should have been done a long time ago.

The next really interesting aspect surrounding RG, is to see whether he starts to sell his holdings. His options will probably only be of use to him if they are " puts ".