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With the Company's name and TIDM shortly being changed to Yourgene Health plc and YGEN respectively, the "necessary administrative processes" alluded to in the 25th Oct RNS could allude to the Articles of Association having to be updated with the new Company Name. I also would have suspected that the TIDM might also require a publicity campaign to publicise the ticker symbol change which may or may not include other items. Although the RNS said "shortly" when this will happen who knows however I suspect we would get a RNS next week to publicise the date.
This is a perfect opportunity for some decent coms/pr from the company and some decent publicity for a change. It's the least the Bod could do after all of the recent fiascos, imo. How they manage the rebranding will be telling, and also indicative of where the Bod see this company going. Fingers crossed they get this right and we can look forward to a much healthier SP and return on our investment. A strong buy from me at current SP.
I remember your ironic remarks about the new CEO turning up to the AGM without a new strategy. How do you feel about it now? Strange we have had no reports back from the AGM. Did anyone go or was it just the directors?!
There was not some expected news I will give you that. Let's see whether this comes shortly.
I feel comfortable that with the annual report has already revealing the product route map, the Chairman already outlined how a wider planned strategy of debt forgiveness and warrant conversion with TMO, the CFO outlining the potential areas of geographical expansion pre and post Illumina CE-IVD development and the Vice Chairman the strategic opportunities now available to Premaitha as being a cross-platform molecular diagnostic firm; that the major elements of a new strategy have already been outlined. I would expect with the news of Company name change more elements would be revealed. I thought the AGM statement, aside from the potential trading update expected, was in keeping in style with last year's AGM statement.
A 6% share dilution has caused a 50% share value loss helped in no part to concerns over revenue forecasts (which the Company has already stated will be revised shortly following issue of a trading update); a brokers research notes (which the Company has already publicly distanced itself from and states will be updated probably by early November); and funding concerns (which the Chairman has already publicly addressed at the 16th presentation) and will in doubt comment further upon post the probable TMO debt forgiveness and warrant conversion exercise. Separate concerns raised about TMO strategic willingness to support the Company following the planned Illumina alliance have also been addressed via the probable TMO warrants conversion and the CEO's visit to the US to meet TMO. Your contribution in these discussions has also been duly noted.
It is fair to say that this 6% share dilution which has created a 50% share price loss has created a buying opportunity for some as progressively the concerns aired above have been responded to by the Company. With the Chairman buying further this week at 10p alongside Steve Myers I think we should gradually rise to the 10p placing floor level before long with the expected news flow of new reproductive product, trading update, revised broker forecast and potential TMO warrants. Hopefully this will allow us to move swiftly on from a fairly horrid few weeks.
All the best.