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i’ve spent the last few days reading the comments with interest and felt it prudent to register and post.
are we at the bottom? no. there’s 2.13% more dilution coming in the next few days as they’ve not landed today. it’s likely a further one is coming in order to obtain funding. are we at the top? no. we are awaiting results which are anticipated as ‘top line’, that in conjunction with secured funding will see a substantial bounce imo..
people talk about funding being ‘difficult’ currently but opportunity attracts money. in over 2 decades they’ve always got funding, even when they were still in the clinic and miles away from anything that could rerate them. do you seriously think after almost 21 years, they’ll not get funding with results pending? as long as i have a hole in my **** i don’t believe that will happen. as a financier you look at 3 things; returns, timescales and risk/reward. all stack up well when you’re putting up the money to legislate against the risk and the depressed price has been due to previous funding arrangements. i’d go as far as to say that it is near on perfect circumstances for them?
other options could include selling up their stake, or elements of, 737? ‘loans’ etc. it’s not a given that a placing will happen. it’s not like sareum is riddled with debt.
cheap take over? (see above about why we are not at the top). under rule 9, if someone gets to 30% they must make an offer for the company that is at least the highest price paid in the proceeding 12 months - 147.50p. 8 times the current share price.
robin hood is clearly puma. it’s normally against forum rules to have multiple logins so i would advocate reporting it to the administrators if you’re that way inclined? they’re clearly a shorter. sadly they don’t have the courage of their convictions so have to try to tell people how they should trade via multiple accounts in order to get their desired outcome. that’s financial coercion and manipulation. it’s market abuse. imagine how they treat people in their private life? puma is here to encourage you to sell to help it’s short, it’s basically said as much.
with regards to the directors, i’m in 2 minds. tm and jr are clearly heavily leveraged here - salary/shares/options/pension etc. more leveraged than any of us. they’ve not issued themselves options for a few years which i feel is interesting. i’d not have begrudged them options based on how far the sp had come - ‘had’ being the operative word.
the directors that have driven us down are the same lot we had when we increased circa 40 fold. do i think they should keep their roles? no. parker has to go. he has finance background but has signed off on consolidation (disaster) and riverfort financing (strong argument for bringing back hanging). without the pandemic we’d not have seen that increase, so they ‘lucked out’. no update on covid since.
I concur silver also the scientists stick to what they are best at and we get a new management team in with sound knowledge and financial savvy willing to take us forward not sit back and wait till it’s too late
For what were meant to have it is not showing at all .imho I believe if we had not consolidated we would not be at this price now 10 years on and no further forward in the SP sometimes makes you think who is working for who ??
GLA
I’ve mentioned a similar situation with Sirius minerals on this board last week. I’ve been in sareum for 8 years,albeit with a much smaller holding than most. When the death spiral was happening with Sirius many “invested” commenters were giving it billy big balls on how they wouldn’t sell their shares for a lowball offer. Lo and behold,an RNS was released saying Anglo American were offering 2p a share,either take it and accept a loss or the company goes under. The people with the biggest mouths on the BB were the first to sell. I’m seriously concerned where we are heading now,it all looks too familiar,I genuinely hope I’m incorrect with my read on the situation. Another thing to add,despite all the links that get posted on here telling us we are worth more than this deal or that deal,it’s not how things work sometimes. If we get taken out for a pittance,our scientists will be well taken care of with a continuity deal by the buyers,us PI’s are cash cows,nothing more nothing less. Sareum may well have ground breaking compounds that in the future may make billions,just like Sirius,which will end up a multi billion £ producer,the big question is,will us investors get a piece of the pie or will we be gazumpted.
Hi Gunnar .. if the BofD do try to raise capital from us hard hit investors which I think is inevitable I would certainly be expecting some sort of quid pro quo from them including the offer of reduced salaries all round and absolutely definitely the dismissal of the utterly useless PH as advisors whose appointment has coincided almost to the day with the tumultuous fall in the share price.
Hello Paul. You still okay for Thursday?? I can’t do tomorrow. Let me know and where to meet up. 👍👍
I’m amazed at posters still posting that this has got to turn and predicting prices of £7 all without a scrap of evidence. Not even the most blinkered investor, who saw nothing but a positive outcome for SAR, would ever have believed that the price would have reached today’s level. The reason we are here is because this has been totally mismanaged . There is little evidence other than blind faith that this can / will bounce back. I really don’t know what needs to happen for some of the posters to see that the Emperor at this moment really has no clothes on !!
Perhaps they could obtain a loan, to take them to phase1b completion.
There will be a ball park figure of what 1801 is worth and rate a pharma will pay.
It will have value end of phase1a data results so why not use this value to access funding?
Excellent chemists but lacking in business acumen.
I trust the BoD are working at pace on this.
Little in the RNS to indicate cash runway.
Regards
At these levels there is no other alternative but to hold IMO. It is clearly evident to me that the market knows something we don't know. These are not normal price fluctuations but a true and proper Armageddon.Dilution is now inevitable to keep the company afloat. Having blind faith in the science is not enough.Got to be backed up by hard cash or else Sareum will imply end up as another AIM casualty. Does not look good at all. possibility that company taken over for a pittance .
The BOD would probably double their pay thinking they’ve done a great job and say we are looking at shareholder value
GLA
Well i know i could live with that and probably most on here
If 1801 and 1802 pass muster then a 1 billion valuation is still certainly feasible. With no dilution that is £14 a share which was the dream we all add. The route to raise money will almost certainly involve a dilution. So maybe we just have accept that after money raising there will be twice as many shares in issue reducing our dream target valuation from £14 go £7 a share! I could live with that and it would still be life changing for many. Rather have £7 a share than diddly squit! If we were to raise £7 million at 10p a share would that be enough to get us through 1a and 1b on 1801 and 1802?
The city is a pack of wolves and big pharma isnt stupid either. Debt is now harder to come by as are the usual lines of investment, through incompetence or naivety the board have left Sar in a vulnerable position financially and the share prices is open to easy manipulation. So I wouldn't be surprised if this is driven by a potential suitor. Why pay billions when you can short the life out of it and get it for pennies instead of pounds. It happens every single day and thats Rule 1 of the playbook, chop a leg out before you make an approach and two if you can. Just hoping we dont end up like Monty Pythons black knight.
Blue Toff why would you inflict our torture on others.
Only club I know with a worse accountant than Sareums.
Big
Get yourself over to Anfield...if you can get a ticket...
Even after yesterday... I'm optimistic.. and still believe there is a way out of this financial predicament we find ourselves in...
dont know how it will pan out but my glass is half full...
Everton will be playing Coventry etc next year if they get more deductions which seem possible with Forest so with that kind of talk I would say SAR will be well into single figures unfortunately..
As a very long term holder here and a fan of the team that has had more matches against you than any other I can only see worrying times for both.
BE. What better time for you to start supporting the Everton Toffies, seeing that you are now in Scouseland.
After all SAR are at their lowest and probably seen as a good place for further investment and so are the Toffies
who have suffered three of their worst years ever. There is only one way for both, up, up and away. (I hope)
I did not envision seeing these prices again. My last post RE PH seems to be the case. At some point the market will turn as they are turning over weaker hands at these levels and no doubt storing them for when we head towards their price target of £3.50. When though, I don’t know. What I do know, I am chasing my tax rebate so I can throw a couple grand in at these levels.
Before you ask, I’ve left my London job and moved to liverpool with my partner, she’s a scouser. Must say, it’s much better up here than north London!! Much cheaper too lol
I feel another meteroric rise coming for SAR. So oversold at these levels, unless an RNS drops that’s a real stinker, but cannot see why they will as all seems to be going well.
IMO there will be two avenues of fundraising. A bridging loan to cover to data readout of 1a (I wouldn't rule out RF to supply the bridging loan). And if 1a data doesn't bring in a licence there will be a placing offered to shareholders and the market to see us to 1b data readout. The board could also go down the JV route for 1802, with a Pharma or CPF even, with a small amount of the upfront dedicated to 1801. We might have to give away some rights to either or both of the compounds. But it is what it is.
70M shares in Issue ; SAR BOD Do a raise with a large pharma ; 70M shares @ 10p = £7Million
Problem then is that large pharma own 50%+ of SAR shares and no longer in the hands of majority PI's .. That then allows large pharma + BOD to decide on any route they wish which could be to our detriment .... Hope not but it is a possibility to remove our ability to block undesirable outcome !!!
Totally agree abiout brokers. More buys than sells now and still 10% down
it genuinely is a cesspit
10% of the voting power. Pretty sure with some of the numbers I see on here that we could easily get that together
Agreed Laz - the company should of changed them months ago, but it's still not too late. PH have been a absolute burden for the company and us.
Ben - you have inadvertently made a good point. The BoD are accountable and rightly come in for some flak. We are also accountable for our own decisions and, in my case, I am accountable to Mrs Laz who loves being in the negative “I told you so” mode. No escape.
The ones who always escape scrutiny and accountability are the brokers. They are a bunch of complicit rogues who will use our shares from their nominee accounts to go short. We were tipped off about PH going short and the next day sure enough, the decline began to where we find ourselves now. There is a wall of silence from Brokers who hide behind weak regulation and obfuscation.
Will the sp rise going into the new tax year? You bet it will. We are all being played and/or mugged as small investors. What is happening now is all about creating greater churn going forwards so that - if news comes - we private investors cannot take millions out of the market leaving the Brokers licking wounds. It is a callous game. You never see a bookie/broker going to work on a bike!! They always win
BOD seemingly utterly incompetent. Share price down 95%. Peel Hunt are paid to do what exactly? Can anyone name a single benefit that we have from being associated with them? Consolidation was and remains the stupidest move I've ever seen. Some people fell for the "How our share price looks is important" lies. As if anyone gives a sh** if its 20p or 0.3p. "We'll be able to attract more institutional investors if our share price is a bigger number." Honestly, it's utter baloney.
Remember! That is all the context. Mismanagement of the "business" side of things on an epic scale. (Ignore the science, by all accounts is doing rather well) The important point here is they think they justify higher salaries for the above catastrophically inept performance.
Let's get them in a room so we can get answers.
I will also be buying more later today.