Scancell Share Discussion Threads

[tosh123] 09/5/2019 07:43

And yet again the village idiot is proven to be WRONG... " the fund
is not part of the administrators portfolio to sell ... you are posting nonsense babbler2 ".... and a few hours later, what happens .... BANG !!!!

What a clown.

Like Panama says, the BOD should hang their heads in shame, its a total shambles.

[bermudashorts] 09/5/2019 07:42

It was taken over by Garraway Capital Management and from memory both fund managers transferred across with it. Now called the VT Garraway Absolute Equity Fund.

[alamaison5] 09/5/2019 07:37

Bermuda: "the fund was taken over back in March".
Would you know the name of it?

[torquayfan] 09/5/2019 04:37

ONW is on form - ''But then, "the science will see us through".... it certainly went "through" him like a dose of salts.....'' Ha ! Ha !

Out of interest, what % of the ex CF Absolute Equity Fund's did Scancell represent ? Not very significant I'd guess . . .

[oldnotwise] 08/5/2019 22:57

Panama
Sadly the ex CF Absolute Equity Fund's performance is terrible (not completely Scancell's fault) but in the Real World of Funds Management the stockpicker for our favourite share would not be particularly well thought of... and he did have 26m (?) shares at one point.... and watched them disintegrate whilst waiting for the surge that hasn't happened. The fund which dropped 38% over the last 12 months, the biggest loss of any fund in the UK (Per Citywire).
Bet he's not flavour of the month in many places..... But then, "the science will see us through".... it certainly went "through" him like a dose of salts..... but I'm sure he's confident it'll all come good in the end... Not sure he'll be there to see it though (he's had to sell 'em remember)?
AIMO
ATB

[oldnotwise] 08/5/2019 22:48

Berm I think it would be very sensible for Scancell to update as rapidly as possible to try and show that there's a good non attributable reason for the 20%+ drop today....
Just as long as they don't preface the announcement with,
"We are pleased to announce" or some such Template gaffe!
Never mind, tomorrow's another day... and just think of the excitement of some for an RNS... Worth getting up early for? No, not really....
:-)
ATB

[panama7] 08/5/2019 22:40

So a company that has supported Fundraisings at either 10, 12 or 17p have had to offload at 3p. This is ordinary Investors money, the Scancell BOD should hang their heads in shame but we know they won't

[bermudashorts] 08/5/2019 22:35

Well, trade was for 16,287,775 shares and ex City Financial's (now Garraway's) holding was 16,287,775 so ........................

Will be interesting to see whether Scancell update significant shareholders on website.

[panama7] 08/5/2019 22:28

Bermuda, ok can we take it for granted this is City Financial.

[bermudashorts] 08/5/2019 22:22

Panama,

No, just to be clear, that was my mistake. I wrongly assumed it was L&G because they hold virtually the same no. of shares.

[panama7] 08/5/2019 22:17

Bermuda/ONW, are you saying this is an L & G sell off and not City Financial. Either way it sums up the total shambles of a Company that they have had to sell at the lowest price ever , even lower than when Scancell came onto the Market. Scancell have had over 30m of funds to create a Company after 10 years with a Market Cap of under 15m.

[bermudashorts] 08/5/2019 22:16

ONW - completely agree re. the levy and the dismal fund performance but I'm not sure they were heavily dependent on SCLP, may be wrong but thought it was a relatively small holding in the context of the whole fund. Haven't checked though and as I say, I could be wrong.

However you look at it though, I'm struggling to find much in this that gives cause for optimism!!

[oldnotwise] 08/5/2019 21:54

I reckon that any Fund Manager who's overweight in a company that's performed the way that Scancell has over the last few years can hardly expect to be attracting new investors in droves, and can probably expect to see the departure of many.
If I was invested in the Absolute Equity Fund I'd be happy to pay 2.34% to get out, and I guess you're probably right in the effect that the performance and then the "upsticks" (as well as Scancell's continuing dismal share price - partially perpetrated by the CF situation) can hardly leave many wanting to commit (or retain) their money with such "Insightful" Fund managers. In the real Financial World a Fund heavily dependent on a share of Scancell's performance history is never going to be a "Wanted" vehicle. Furthermore Real World fund managers cannot simply sit back and say that "everything'll be OK in the end"! They have to show an index beating performance year on year.... that's partially why I was surprised to see such a holding in a professional fund. I hope the remaining L&G holding's not so vulnerable.
Anyway, we know what caused today's "dump" let's hope there's not too much left with the MMs!
I hope that the optimists are right, and that this sale virus isn't catching!
Fingers (as ever) crossed!!
AIMO
ATB

[miavoce] 08/5/2019 21:50

Thanks ONW

[bermudashorts] 08/5/2019 21:20

ONW - At the beginning of April, Garraway imposed a 2.34% levy on all redemptions from the Absolute Equity Fund, perhaps it hasn't been successful in stemming the tide as they hoped.

[oldnotwise] 08/5/2019 21:02

Miavoce
if you look at the trades for a few weeks back I reckon the MMs have been running a short book against the known supply, but I'm not completely sure that it'll all be completed now.... I hope it will, but let's see...
I wonder whether the price we saw today was against a time limit.....Anyway, onward and (hopefully) upward.....
AIMO
ATB

[miavoce] 08/5/2019 19:29

I guess my speculation about a fundraising at 3.75p can be safely ignored.

I presume there must have been a buyer for that 16m as the MM's wouldn't take such a large chunk onto their own book IMO. Hopefully the price will start to recover now that the ex CF position has been disposed of.

[bermudashorts] 08/5/2019 18:11

alanmaison -

Yes you're right, it is utter rubbish but I've already told you that - see my 21889.

L&G have a very similar holding (16.3m) and had previously sold a chunk and that's why I assumed it would be them. By the way, City Financial aren't the sellers, the fund was taken over back in March.

[alamaison5] 08/5/2019 18:06

Bermudashorts8 May '19 - 17:43 - 21887 of 21890
Looks like it's L&G to me

Utter rubbish, lol. Back to school mate.

[alamaison5] 08/5/2019 18:05

SCLP City finance is out now as they've sold their remaining 16,287,775 shares at 3p. Now that everyone knows we should see a nice little rise from here!
I have another £2k stashed away for tomorrow.

hxxps://percentagecalculator.net/

[bermudashorts] 08/5/2019 17:45

....that's rubbish ignore me - they have very similar holdings but you're right.

[oldnotwise] 08/5/2019 17:43

Wouldn't it be great if the BOD combined and collectively bought the lot!!!
Now THAT would generate some optimism (and maybe real buying).....
At that point I awoke...... :-(
ATB
:-)

[bermudashorts] 08/5/2019 17:43

Looks like it's L&G to me

[ivyspivey] 08/5/2019 17:37

So 1334:46 time.
Amount 16287775 at 3p

[ivyspivey] 08/5/2019 17:35

08-May-1913:34:463.0016,287,775Sell* 3.704.00488.63kO