NorthWest Biotherapeutics Inc (NWBO)

[TC_Trader]

This is what iclight is referring to.

Jerry Campbell
25 Sep 2016 at 12:14 am
Mitch,
While I suspect you are sick of NWBO questions from the US, I hope you can clear up one small point. Is Woodford & Co restricted from trading by NDA (non-disclosure agreement) or any other means, or have you simply chosen not to trade?
Regards,
Jerry

Mitchell Fraser-Jones
Author
27 Sep 2016 at 3:23 pm
Hi Jerry,
We haven’t signed anything that precludes us from trading. Hope this clarifies your point.
Mitch

Terrell Orum-Moore
27 Sep 2016 at 11:03 pm
Being that Woodford & Co. owns more than 10% of NWBO and therefore qualifies as an insider, is it in possession of any material and/or non-public information that “precludes” Woodford & Co. from trading? An answer to this question would help to “clarify” the matter.

Mitchell Fraser-Jones
Author
29 Sep 2016 at 2:20 pm
Hi Terrell,
You are correct that shareholders holding more than 10% of a company’s stock are considered statutory insiders, but there is an exemption for qualified institutional investors. As a non-US equivalent of a US registered investment adviser, we qualify for this exemption and are therefore not precluded from trading on that basis.
Regardless of whether we are considered to be statutory insiders or not, sometimes, in the course of our interactions with individual companies, we come to possess insider information which prohibits us from trading in the shares of that company until that information becomes public. We do not reveal whether or not we are ‘insiders’ in this way on any position, for reasons of market sensitivity.
As our previous response confirmed, however, we can confirm that we have not signed anything that prevents us from trading.
Kind regards
Mitch