With less than a 5% holding a sale by Freeman Road would not...

With less than a 5% holding a sale by Freeman Road would not require disclosure. As a substantial holder a sale by Fidelity would necessitate an announcement.

I see no reason for a fall in share price if the Scheme were to be withdrawn, other than the normal uninformed decisions of some market participants. HC regulars are sufficiently informed to know it to be worth far more than that.

When the Covid-19 test results were announced on 22^nd March the share price jumped to 10.5 cents before profit taking saw it settle back over the following two weeks to trade between 9.4c-8.6c on the day immediately before the Scheme announcement.

The announcement included notice that the Company had received crucial funding for the licensed joint development of a mass-screening diagnostic for Covid-19. That development should add substantially to the value of the share price, and it is deceitful for the Company to refer to VWAP premiums prior to that knowledge as justification for the 11.5c offered.

Six weeks now have elapsed since the 6-month licence was activated, so progress on the development should be charging ahead to the benefit of both partners.