Scancell Holdings PLC. (SCNLF)

[Gift_Horse]

RE: $1.94 Target Price

It is important to point out that the BUY rating and $1.94 target price for Scancell's shares was issued by Cenkos Securities in response to the decision to seek the £6.5 million of funding via the issuing of 28,888,888 new shares. So the $1.94 target price is based on the 223,358,373 ordinary shares which will now be in issue as a result of this funding.