NorthWest Biotherapeutics Inc (NWBO)

[KD888888]

WOODFORD FUNDS UPDATED THEIR POSITION

LAST YEAR?

Straight from a Woodford Funds update, tell me now that it wasn't a direct quote.

We are often asked what went wrong with this investment and what lessons have we learned. As Neil said at the annual general meeting back in May last year, the decision to invest in Northwest Biotherapeutics was an error of judgement. We were initially attracted to the company’s unique technology. From the outset, we were aware of the potential governance issues but we underestimated their extent. Furthermore, we overestimated our ability to influence change at the company. We will always do everything that we can to ensure positive long-term outcomes for our investors, but this case study suggests that it is not always enough. The governance issues at Northwest Biotherapeutics have continued to conspire to shred investor confidence in the business.