Short Update on the Cordlife idea

I know I am supposed to be releasing an idea on Cordlife since my teaser post last week.

However, in between drafts, the company has been posting updates, and I have been trying to call major shareholders for advice. Attempts were also made to solicit views from certain parties which I am unsure would be comfortable in what was told. Everything felt very legally sketchy on both ends, so I feel the need to tread carefully.

So I figured I would put up a quick post since certain dates are looming near. 

On the 10-May, 10am, there would be a chamber hearing to decide if the interim injunction, which is preventing the company from going ahead with the private placement, could be lifted (at least until a final judgement is made).

This could possibly mean that the private placement could go through before the AGM, which translate to another 51.2m shares, and more importantly, another 51.2m votes. To call it a game changer would be an understatement. Any party that enjoys the allegiance of shares that many would crush the other side, even if every other substantial share holders were to stand with the latter.

Assuming the private placement does not go through, the voting for the resolutions tabled for the AGM (on 14-May) would be quite a puzzle. There are certain parties which could need to abstain from votes (since there is, to me, conflict of interest). As of now there is no clarity.

I have also sent in very pressing questions to both SIAS and the company. The company states that it would make public the answers to the questions post no latter by 48 hours after the deadline for the proxy forms. I am not very familiar with the legalese, but looking at the proxy form, it does indicate somewhat that a shareholder might be rejected from recommending a proxy 72 hours before AGM. So this means maybe the company could only answer a or two day before AGM?

I be keeping my eyes peeled because I took some time to draft and finalize those questions.

Lastly, I have acquired additional shares in the last few days. Cordlife now stands at about 4.8% of my portfolio. I am planning to acquire more as I think the issue is moving alongside my thesis. At the very minimal, I believe Cordlife shares to be very depressed. I have spoke to some friends about my idea (along with anyone who is willing to listen, really), and they cast doubts which I myself harbored.

Until the next post. Apologies.