Sensyne Health Share Discussion Threads

[zulu_principle] 14/12/2020 11:42

edwardt - glad to hear you've received your notification, nothing yet from Halifax. No need to rush though as we have until December 31st to decide whether to take it up or not. Probably being over-optimistic but I'm hoping for a couple more NHS Trust announcements before then.

[jpuff] 11/12/2020 17:55

Open offer is available through AJ Bell for both basic rights plus excess too.

[billy3] 11/12/2020 14:54

edwardt - how did you get the offer ?
Have you paid up yet ?

My broker is HL

[edwardt] 11/12/2020 10:44

zulu - you were right -should have read in detail - got my corp action for the open offer. small beer but will take them up.

[edwardt] 09/12/2020 21:14

The idea is to avoid high legal costs of a rights issue. Simply shafts the little man as a result. Thank you fca for that corker of an idea to allow 20% raises without preemption rights. Masterful incompetence in protecting minority shareholder rights imo. Rant over - I need to find some cash to cushion the effects of the dilution.

[nico115] 09/12/2020 17:52

Private investors won't get any in these big discount raises as most of the stock goes to institutions and the market makers and one or two of the brokers best mates seems like a lot of these placings are now closed shops What a shame

[billy3] 09/12/2020 15:27

Edwardt

That’s how I read it too. I had to look up the book build and it seems it is often done overnight. Basically the brokers can ring clients and offer the shares out. One all bids are in they pick the average price or along those lines. Nothing like a share placing we can subscribe too. Any private investor who bought at the IPO price would be well peed off. Looks like we have lost money on our holdings for the institutions to profit. I guess it’s because they are the major shareholders.

[zulu_principle] 09/12/2020 14:45

The open offer (aka "the plebs morsel") shouldn't be oversubscribed. There were about 128 million shares in circulation as of last night (i.e. ignoring the new issue). At 1 new share for every 47 held this works out to approx 2.73 million new shares for the open offer. According to this morning's RNS there will be 2,735,564 new shares made available. Very small beer but just about worth signing up to.

[mrc2u] 09/12/2020 13:41

Indeed - you might think Drayson is more interested in making money for himself and his cronies than mere private investorsDeeply cynical and, if the price stays high, the £2.5m will be wildly over subscribed and scaled back from peanuts to whatever is less than peanuts. Pine nuts perhaps?MrC

[billy3] 09/12/2020 10:19

Let's not forget this part of todays news.......

"In the same announcement, Sensyne also said it had struck an exclusive strategic collaboration with Phesi, a US clinical trials data company.

The deal will provide Sensyne, a specialist in the ethical application of clinical artificial intelligence (AI), with access to around 13.5mln international patient records from 320,000 clinical trials."

[mrc2u] 09/12/2020 09:23

May take up my pittance but also may bail out. This is the sort of stunt that a weak Board pulls. There is no proper FD and the chair has always been in the public sector. There have been too many board changes, too much that does not smell right about Drayson's behaviour and this raise suggests a Board acting for a small minority of holders. Also have to question if it's anywhere near enough cash. They will need to spend heavily to get into the US with US patient data MrC

[billy3] 09/12/2020 09:10

I've just topped up 112p.

Hopefully the less savvy holders will realise that a placing at 90p doesn't mean all the shares are worth that. Not everone understands dilution and the effect on price.

[volsung] 09/12/2020 08:38

Resigned to seeing this under £1 for a while. Be good time to pick up more stock

[billy3] 09/12/2020 08:34

As above, I was disappointed to read that we have been ‘left out’. But once I’d got over the prospect of seeing a chunk of profit wiped out this morning I looked at the many positives.

Had the shares gone private by way of a rights issue it would have dragged out the process and been costly but likely ended up with the same result. It is positive that the placing was over subscribed. It shows faith by the institutions and will be interesting to see who bought in or topped up.

More private buyers would have aided liquidity but possibly more volatility. That said, they have to already won it to partake in a rights issue.

As with others, raising funds was always a pretty much certainty. The profit projections are good and on target, but there was always a fine line between cash and profit in 12 to 24 months time. Raising this early is positive and to me shows forward thinking and aggressive expansion. It removes uncertainty in the next 12 months when some may hold back buying due to cash flow.

As above I had worked out we should be around the 120’s after dilution. I can live with that drop with 25 million in the bank. It also strengthens the price going forward with the company in such a strong position.

Taking all of the above into account, I enforces my view of holding long term and not bailing out sooner in case there was a rights issue.

I may subscribe to the 2.5 million or so on offer.

I’d be interested to hear others thoughts.

[zulu_principle] 09/12/2020 08:12

Bit sooner than I expected. Diluted 21% and offered 2% of that back on a few hundred shares. If my quick calcn is correct we should end the day around 130p. If we close lower it shows the level of dissatisfaction with how the fund raising was conducted. Conversely if we close higher it shows satisfaction with the enthusiasm of investors to participate plus the scale of opportunities detailed in last night's announcement. It's going to be a bumpy day!

[babbler] 09/12/2020 08:10

£300k buy.

[edwardt] 09/12/2020 08:09

Agree but it is the way of the world. The little guy gets done over

[mrc2u] 09/12/2020 07:09

So that is the cash sortedBut not impressed with the approach. They have pumped out news over the last two or three months to get retail holders to drive the price up and then raised capital at a huge discount with, realistically, only a tiny pittance at best to those who have made it possible by buying the shares in the market. Not a good way to build trustMrC

[rambutan2] 25/11/2020 16:41

What is going to be key re the cash sit is how well the US apps launch goes. Having Microsoft's backing is surely a big plus. GDm appears to be a good product with a decent market. That and the others to follow could produce a good cashflow.

[billy3] 25/11/2020 16:22

Zulu. Yes, a rights issue is a concern. But if the profit forecast is acheived then hopefully won't need one. I do get a bit twitchy about the shares issued to every new NHS trust taken on board but the amount isn't huge and today's announcemnt, for example, would only be a dilution by 1-2p. NHS trusts now hold about 11% I think it was. They are less likely to sell than private investors and are tied in for a couple of years in any case.

[edwardt] 25/11/2020 13:56

zulu - i agree. at least a 10% tap when it gets to managements 'incentive' breakeven would be my guess.