Seneca Growth Capital Vct Share Discussion Threads

[127tolmers] 14/8/2013 07:39

Half year results have NAV at 112.8p or 103.7p at today's Scancell prices.

Hygea sold 1m Scancell shares at 43.6p in the period up to 30 June and another 0.5m shares at 49.2p afterwards. They were unable to participate in the open offer at 22.5p due to HMRC rules.

They are upbeat that they have another 4 companies other than Scancell with significant potential; reading between the lines they seem to be Hallmarq, Omega Diagnostics, Glide and EKF diagnostics.

3p divi to be paid on 25 Oct.

Share price jumped this morning as buyers came out of the woods

[rivaldo] 14/8/2013 07:37

Interim results out today show a current 103.7p NAV (112p at 30th June), with a 3p interim divi coming our way:



Interesting comment that "We currently consider there to be at least five companies (including Scancell) each of which has the potential to achieve significant growth in value".

Some good profit-taking in hindsight at SCLP at 40p+, but a shame that HMRC rules prevented HYG from reinvesting at basically half the price at 22.5p!

I like the Hallmarq comment that "PetVet (which started two years ago) has been completed, with the first system being delivered to a vet practice in August 2013."

I'm reasonably happy overall with the strategy and the way things are going.

[rivaldo] 06/8/2013 14:14

Chrres sbp - imagine what any news from Arecor re a universal flu vaccine might do to HYG's share price :o)) Excuse me whilst I have a short daydream...

I note that SCLP is up another 3.5p or so to 38.75p, making HYG's NAV around 106p-107p.

[stupidboypike] 30/7/2013 15:41

more news from Arecor. Looks good to me.



Best regards SBP

[stupidboypike] 23/7/2013 15:45

just around 1.00 by my calcs rivaldo.

Best regards SBP

[rivaldo] 23/7/2013 14:34

Cheers sbp, good news.

SCLP's share price suffered after the recent fundraising, but with a bit of director buying has recovered nicely to just over 35p so far.

It's too hot for me to be bothered to work out HYG's current NAC precisely! But I'd judge it to be around 95p-100p at present holding a finger in the air, so the share price remains at a large discount.

[stupidboypike] 17/7/2013 06:37

Arecor get patent grant
(Arecor is a hyg investee company).

Best regards SBP

[rivaldo] 05/7/2013 06:34

Cheers timbo.

Hallmarq news - though the PetVet intro later this year is the biggie:

hxxp://www.watchlistnews.com/2013/06/28/hallmarq-introduces-next-generation-motion-correction-technology/

"Hallmarq Introduces Next Generation Motion Correction Technology
June 28th, 2013 - 0 comments -

Company rolls out software worldwide

Acton, Mass. (PRWEB) June 28, 2013

Hallmarq Veterinary Imaging introduces next generation motion correction technology that will help generate even clearer images with their standing equine MRI machines. Over the past few months, the company has started implementing its new software in all of its standing equine MRIs throughout the world.

The next generation software, which took nearly 18 months to develop, is designed to better manage changes in the shape of the joint during scanning. Changes to the joint shape can occur as the horse shifts its weight distribution while standing. In addition, the software also improves the resolution of the final corrected images and allows for motion-corrected, high-resolution scanning.

"Overall, it is a robust change to the motion correction methods and image resolution of the higher joints we scan," says Steve Roberts, operations and technical director. "It is particularly noticeable when scanning the fetlock joint. Higher resolution permits the visualization of finer structures."

Rolling out the new software in May to its partners, Hallmarq will ensure that every site with one of their standing equine MRI machines receives the new software at no cost to the clinic.

"It is important to us that all of the sites around the world are using the same technology," says Dan Brown, BVSc, MRCVS, business development director at Hallmarq. "In addition, we want to ensure they we're all trained on the system and understand the benefits of the new technology. For us, this isn't just a business, it's a partnership and we want to be certain all of our partners are comfortable with the system."

Investing a significant amount of time and money into the system, Hallmarq says the changes will allow veterinarians to see the finer areas of the joint without putting the horse at risk. Because Hallmarq offers a standing MRI, the horse is simply walked into the machine. This eliminates the need for general anesthesia, which can lead to death in almost one in 100 healthy horses1, making the system much safer than traditional MRIs.

"This new technology makes the use of one of our systems even more seamless," says Brown. "Not only does it improve the tolerance of the system for patient movement so the staff has less to worry about, it also allows for even better images for diagnosis."

Hallmarq manufactures their standing equine MRI machine in Guildford, United Kingdom. The company has offered the product in the United States since 2004 and plans to launch PetVet MRI for companion animals later this year. "

[timbo003] 04/7/2013 06:59

rivaldo, no new Hygea related nuggets from talking to Charles.

He did however thank me for some of the comments I made during the meeting about Hygea doing the right thing (from a transparency perspective) in accounting for the management incentive payments as a liability on the balance sheet. I pointed out that Oxford do not currently do this, so the NAVs quoted (for Oxford 1 and 3) are not adjusted where appropriate. I think in future they will be, if they are not, I will raise the matter again.

[rivaldo] 04/7/2013 06:48

Many thx timbo. Did your shooting the "Breeze" result in any interesting stuff?

This post from 127tolmers on T.M.F is also worth noting:



"The highlight of the day was a presentation by Richard Goodfellow, joint CEO of Scancell. He warned that as a publicly listed company he was constrained in what he could say.

Nevertheless he gave an upbeat view of their market space a $35b/yr market in the next 5-10 years. Their products could address 60% of all cancers. The FDA had introduced a fast track "breakthrough designation". The Cancer/immunotherapy area was described as the biggest drug class in history.

Key dates are the finalisation of the patents for Moditope which will happen in August this year and should merit a RNS. Also the SC1B Phase 2 results should be published in 4Q13. The board was still focused on a clean exit and not licensing after that. The likely buyers would want the key personnel not just the molecules. The outlook still seems good for Scancell. They felt that the share price had now begun to reflect what was going on in the company and recognised their exit model which differentiated them for others."

[timbo003] 03/7/2013 20:24

The Oxford Tech AGM was an interesting meeting

No mention of any of the common holdings with Hygea, apart from Scancell.
I have posted a few notes on one of the Scancell threads:


Charles Breese was there too (Hygea director), so I spent some time shooting them breeze with him during lunch (excuse the pun).

[stupidboypike] 02/7/2013 15:26

Look forward to hearing your report timbo. Best regards SBP

[timbo003] 02/7/2013 14:58

It is the Oxford tech AGMs tomorrow (all four of them), I will go along. Richard Goodfellow, the Scancell CEO is going to do a presentation after formal proceedings, so their might be a few nuggets to pick up.

[rivaldo] 02/7/2013 14:11

Well, someone's keen - 11,900 shares just bought at 84p, 2p above the 82p offer price....

SCLP continues to move slowly upwards.

[rivaldo] 20/6/2013 11:03

Continuous small buying over the last few days. Scancell has moved up a little, but hopefully someone knows something about the portfolio - Hallmarq perhaps given its recent news flow?

[stupidboypike] 21/5/2013 07:15

timbo, many thanks. Best regards SBP

[timbo003] 21/5/2013 07:06

>>>sbp
try this link for free sign up:



>>>rivaldo
No problem, the wider the readership the better as it increases awareness which can only be a positive for liquidity.

I tend to stick to TMF as it is moderated and access is easy for industry watchers, VCT directors, managers and PDMRs (many of them read it!). It keeps everything in one place, so they can easily read about what we think of them and their peers and rivals.

[stupidboypike] 21/5/2013 06:50

I can't get to the sharesoc forum as registration is by invite only. DOes anyone have any details of the failed takeover attempts of ekf? I can't see any rns announcements that relate?

Best regards

SBP

[rivaldo] 20/5/2013 21:42

Timbo, I hope you don't mind me copying here your poat from T.M.F re HYG as it's a useful prompter - though I think Freehand is actually now the second biggest investment, with EKF perhaps third (as an aside, personally I can't see much upside for EKF at the current high valuation for some time to come) :



"There is a useful AGM report for EKF Diagnostics over on the Sharesoc forum (you need to register to read, but its free):


EKF are the second largest Aim quoted investmment in the Hygea portfolio, summary details are here


EKF was on Hygea's books at £354K at 31st December and the share price is now more or less where it was at the end of the year (30p), so it contributes around 3.5p/share of Hygea's NAV (adjusted for management incentive).

Interesting to read that there were two approaches for EKF last year, one of which was "serious" from a large international player and the possible reasons why it did not proceed. Perhaps it's only a matter of time before EKF get taken out. Should this occur, it would represent a significant liquidy event and profit for Hygea (they bought their stake for £260K)."

[rivaldo] 15/5/2013 13:00

Cheers timbo. We'll have to keep en eye on OR/Freehand's web site:

[timbo003] 11/5/2013 23:21

Rivaldo.

There was nothing of any substance said about OR productivity, I would have asked about OR, but unfortunately we just ran out of time (largely my fault). We were going to get thrown out of the office at any minute, so the BOD had to end the meeting.

[rivaldo] 10/5/2013 10:04

Great report timbo, many thanks.

Good to hear such confidence in Scancell, but as you say it's reassuring to have a second potential and relatively near-term multibagger in the wings in Hallmarq.

Did anyone say anything about the revitalised OR Productivity/Freehand? They've put a lot of money into this now, with a further £110k this last quarter (£565k in total).

[timbo003] 09/5/2013 18:27

Rivaldo

Yes, Hallmarq seems to be the one to keep an eye on, forget Glide for the next few years by the sounds of it.

My AGM report is over on the Motley Fool (warning long post!)

[rivaldo] 09/5/2013 09:34

Cheers timbo, looking forward to your thoughts on the AGM.

Hallmarq seems to be rolling along rather nicely - there's lots of encouraging news flow:



In particular, they've today reported this excellent news:



"PetVet 1 Completed

Unique features of the PetVet include a V-shaped patient bed and integrated RF shield

Hallmarq is pleased to announce completion of the first PetVet 1.5T high field MRI

The system will be installed at Southern Counties Veterinary Specialists in a few months, when the new MRI building is completed. Hallmarq looks forward to working with the practice to help companion animals with a wide range of conditions.

This unique veterinary specific system has been developed following extensive discussion with veterinary radiologists. The PetVet requires no RF room as this is built onto the magnet. Nor does it require routine helium re-fills due to its zero-boil off cap. These two factors along with its significantly lower power consumption give it one of the lowest total costs of ownership when compared to competitors."

[timbo003] 07/5/2013 19:51

Yes, thanks Rivaldo

Some of the Oxford Tech VCTs have Glide in their portfolios too, so I have a double interest in Glide. They seem to be going after realistic targets where there is a real technical problem to be solved, rather than attempting to replace needles completely (which was the hype investors heard from Powderject, remember them?)

It is the AGM tomorrow, so I will go along. It will be good to hear what they have to say about Glide and the other unquoted portfolio companies. At the meeting I will be bringing up the subject of the BOD's very generous performance incentive scheme, so it will be interesting to hear what they say about that too.