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CUV, CLINUVEL PHARMACEUTICALS LIMITED
Frogster
post Posted: Yesterday, 06:40 PM
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In Reply To: investek's post @ Yesterday, 06:23 PM

From S&P/ASX Australian Indices Methodology, December 2018:


Investable Weight Factor (IWF)

Investable Weight Factor = 1 - Sum of the % held by strategic shareholders who possess 5% or more of issued shares.

All issues in the S&P/ASX indices - with exception of the All Ordinaries - are assigned a float factor, called an Investable Weight Factor. The IWF ranges between 0 and 1 and is an adjustment factor that accounts for the publicly available shares of a company. A company must have a minimum IWF of 0.3 to
be eligible for index inclusion. The company’s adjusted market capitalization determines an equity issue’s relative weight in the index.

S&P Dow Jones Indices identifies the following shareholders whose holdings are considered to be control blocks and are subject to float adjustment:

1. Government and government agencies;
2. Controlling and strategic shareholders/partners;
3. Any other entities or individuals which hold more than 5%; excluding insurance companies, securities companies and investment funds;
4. Other restricted portions such as treasury stocks.

IWFs are reviewed annually as part of the September quarterly review. However, any event that alters the float of a security in excess of 5% will be implemented as soon as practicable by an adjustment to the IWF.

The function of the IWF is also to manage the index weight of foreign-domiciled securities that quote shares on the basis of CDIs. Due to the volatility that is displayed by CDIs, unusually large changes in the number of CDIs on issue could result. Where this is the case, the IWF may be used to limit the effect of unusually large changes in the average number of CDIs (and, thereby, limit the potential to manipulate this figure). Where the Australian Index Committee sees fit to apply the IWF in this manner, the rationale for the decision will be announced to the market. This will be reviewed annually at the March-quarter index rebalancing date.

Your "long term holder" label isn't mentioned here by S&P/ASX. The closest similar would appear to be the strategic shareholders/partners label, which I'd interpret as commercial cross holding type arrangments rather than retail investors who happened to get in early and hold for a long time. So, unless you have 5% or more, yours should be included too as should most others held via nominee accounts or, for that matter, directly. On the above description, Lagoda should also be included.



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Dr Wolgen is a magician.
His end game for Scenesse will impress, or even amaze.
En route, along with glimmers of truth, there will be distractions, illusions, sleight of hand and misdirection.
Enjoy the ride.

Said 'Thanks' for this post: Farleap11  Johnny H  
 
investek
post Posted: Yesterday, 06:23 PM
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In Reply To: Johnny H's post @ Yesterday, 04:28 PM

Public info from FT site indicates ~36mil shares, not sure how accurate this is...

https://markets.ft.com/data/equities/tearsh...mmary?s=CUV:ASX


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Said 'Thanks' for this post: Farleap11  Johnny H  
 
Johnny H
post Posted: Yesterday, 04:28 PM
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Ok, question for the finance guys. Back of the napkin math: If we make the ASX 200 in the March rebalance, it should result in a SP bump of at least $3 and possibly $10 or higher later. I can explain my reasons for this conclusion later, but it's irrelevant to the the question I have:

Does anyone have any of the previous float calculations for Clinuvel shares? I no longer have an Australian broker, so it's not data that I have access to.


The ASX 200 listing requirements for MC and liquidity are float adjusted, and it's a bit unclear to me how the float is calculated. Insider, closely held, and institutional shares are pretty clearly excluded from float. So we can safely discount Wolgen's, Bjildorp's, and any other director/employee's shares, plus the performance plan trust. Same with Lagoda, Ender, and probably all other private placement shares.

However, the "long term holder" float exclusion is a little murky. There are many of us who have held shares for a decade or more, but the shares are largely held with custodial brokerages. My shares aren't registered with Clinuvel, and they have no idea who I am. Do these shares get excluded from total float as well?

I know it's a boring and tedious question, but the float calculation might mean the difference between getting added to the 200 or getting passed over again. All of the other metrics look pretty good.



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Clinuvel until my bowels release for the last time.

Said 'Thanks' for this post: Farleap11  macgyver  
 
Doogieson
post Posted: Yesterday, 12:10 PM
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https://onlinelibrary.wiley.com/doi/pdf/10.1111/exd.13887



Said 'Thanks' for this post: Justinian  investek  
 
Doogieson
post Posted: Yesterday, 11:37 AM
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https://www.statnews.com/2019/01/02/new-tre...gic-to-the-sun/


Said 'Thanks' for this post: Johnny H  andymen  waz  
 
Johnny H
post Posted: Yesterday, 10:26 AM
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I sure wish I could write a short straddle on Clinuvel. Looks like the price is going to be stuck at 22 for a while.



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Clinuvel until my bowels release for the last time.

Said 'Thanks' for this post: Macquarie  
 


rabbitrun
post Posted: Yesterday, 09:25 AM
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In Reply To: Verharven's post @ Yesterday, 06:29 AM

Jesus, their new website is such a piece of crap. Love that American flag banner on the homepage though. Very subtle.

 
Verharven
post Posted: Yesterday, 06:29 AM
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In Reply To: sharelooker's post @ Yesterday, 05:26 AM

Great to see the PDUFA date as a big bold headline on the front page. Could do with a countdown clock though tbh biggrin.gif


Said 'Thanks' for this post: PunkassDerm  Ray Cokes  
 
sharelooker
post Posted: Yesterday, 05:26 AM
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I like the new design of the drop down navigation menu! It looks more professional.

https://www.clinuvel.com/







 
Johnny H
post Posted: Jan 22 2019, 04:37 PM
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In Reply To: Johnny H's post @ Jan 22 2019, 02:14 PM

To clarify, while the months of August and September encompass more than 50% of the boreal Summer, it's not necessarily when the largest number of implants would take place.

Just pointing out that 4Q isn't "Winter" from a financial perspective. 1Q is. Here's hoping to a March rebalance.



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Clinuvel until my bowels release for the last time.

Said 'Thanks' for this post: ignoramus  
 
 


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