The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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The sharp decline in share price since January must be in part attributed to RH selling. In total they had around 5% so not huge amounts and may well all be sold, or close to sold. Majority of RF shares were issued at over 80p i can’t believe they have been holding on to them as this has been dropping. Yes it would be good to know if they have any left.
Hi Silver, I don't think we have any right to see that info in much the same way a member of a building society can't just rummage through head office records. RF will have to show the BoD a clear record of what they sold and for how much etc. as part of the contract. The Edison report gave some indication of the current position but since we're not now looking for the full £5m I think it's a case of we don't have to issue more shares to make up any shortfall but we do have to repay any outstanding monies by Aug 2025. If a fat deal doesn't come along before then at least we should get some income from the 737 deal before the end of this year to finally tell RF to get stuffed.
RF have warrants but no idea if they can be cancelled on payment of x,y or z.
Is it possible to determine how much RF have lent us to date, how many shares RF have received, how many they have sold, how much we still owe them and when does it have to be repaid? Do we as shareholders have any rights to this information in the way that the public have with FOI requests? I wrote to IR on Wednesday requesting confirmation of the PH situation .. no reply to date.
Morning Warthog - good to see you're feeling better!
I don't have a problem with people having multiple income streams but do wonder if we're getting value for money from Parker. Without knowing what goes on behind the scenes it's hard to say if he's working like a maniac for us, with many strong links to interested parties, or if he spends all his time at the Garrick pretending to be a mover and shaker.
Of course all legal.
Pharma’s Financiers and not forgetting the Governments that allow it Fanti.
Corruption happens and meetings happen, you can go to the yearly meetings but they will never tell you the real deal. As in PH & RT, as someone said, these people knew exactly what they were doing, how much Parker knew, we don’t know.
Pharmas and financiers just a different form of criminal.
Nice statement I like and still am questioning the BODs behaviour and integrity.
With PH and Riverford and HNWI as chosen Partners all may go well according to plan. Private investors used to be like a safe harbour with shares well locked. Not a single share would have been sold. Remember old times? Temporarily, dilution is approx 36% as is the addition of voting rights.
Rightly Sareum delivers a hint. Looking forward to hear about any news...
RNS:
Following Admission, the total number of Ordinary Shares in issue will be 95,678,309 and the total number of voting rights will therefore be 95,678,309, and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Again just my 2cents who cares :)
Good read a tad on the long side.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7918546/
Good luck with all of that Carter........
So he has his greedy snout in other troughs thus splitting his attention span in several directions.
No wonder we have been floundering while he has been picking our pockets.
I meant disgruntled investors
I wasn’t meaning insider information as you purport to, if you have a disgruntled board that want to know what errors have gone on and why. Like experienced investors having a E.G.M with the board.
Eh!? This BB gets ever more bizarre.... whatever cr*p has happened (and I agree there has been some dodgy stuff although sadly that is AIM) why would the BOD allow a group from here to get insider info.........
Elcap, interesting post, wit several of you guys that are well clued up, especially far more than myself. You should be allowed to know about some of these goings on and be able to have a cordial discussion with the board, say a group of six. Why shouldn’t they after what’s gone on.
I was digging for clues as to who may have 737 and searched the US gov SEC website for any mention of 'Sareum' in the last 30 days in case we're a footnote to some entry relating to a deal or whatever.
There are 2 results, both for Biodexa Pharmaceuticals Plc - https://biodexapharma.com/
So what's the connection? Step forward Stephen Parker (or 'Simon' if you open his bio) - https://biodexapharma.com/about/#board-stephen-parker
Anyway, back to the SEC doc and look at the 'Letters of Appointment' starting about halfway down page 96 - https://www.sec.gov/Archives/edgar/data/1643918/000121465924005356/d320242424b3.htm#MANAGEMENT
It states, "Dr. Parker is paid an annual fee of £82,000, plus an additional fee of £1,750 for every day in excess of 16 days worked." I'll let someone here do the maths.
It'll be interesting to see if the SAR BoD announce what their reduced renumeration is in light of our recent financial concerns.
Footnote: if the typo refering to Stephen as 'Simon Parker' gets corrected in the next week, is it because someone over there discovered the error by chance or because our BoD read this forum?!
Evening SOG - whilst we've both mentioned AZD1775 previously, I can't find a link between AstraZeneca (or Merck) and any privately owned US biopharma so I don't think we'll be seeing a SAR/AZ deal any time soon (more's the pity).
https://delta.larvol.com/Products/?ProductId=326ab820-1f70-446a-a97a-a9e6d947e352&Index=0
My big beef with the RF agreement is the agreement states, they may sell shares from time to time to recoup the loan.
Well RF thought sod from time to time, and went and sold aggressively every single day.
They trashed the SP intentionally whether for reverse TO, or some other reason. Certainly out of line with the deal IMO. Hope SAR make them wait now till 2025.
I don't see RF causing any further damage (the damage has already been done).Also, there seems to be a huge appetite for shares at this price so even if they do have more to sell, they'll get snapped up.
The WRAP was almost 4 times oversubscribed, with a very short window and many brokers not engaging.
Hell, even I'm buying - and up until a week ago I though I was watching a slow motion, car-crash that I would never buy back into.
It's tragic that this is the baseline because it really didn't have to be...
However, I do believe it is the baseline and news will send this upwards. Possibly rapidly.
I'm currently wondering what 137,500 shares in the company progressing 737 are actually worth? I've not seen this talked about much here (apologies if I've missed this - I'm not on the boards as much these days) but, given the terms of the previous Sierra agreement, I suspect it isn't peanuts.
But what about the large sell? Must be well over 1m so will be declared very late.
Large buy at end of the day
Hi All
I went away last week, not knowing if Sareum would still be here - we are, thanks to pi support and thankfully a placing not involving PH, I said openly that the pi's had the appetite and I believe the BoD realised that hence the extension of WRAP.
We now need to ensure pi's are heard going forward, better communication and transparency not just a AGM or investor meet sham.
That said, I don't want any rushed or rash decisions, I would like the BoD to consider all aspects of our liabilities, aims etc and for once put out a concise pathway of the next 3, 6 and 12 month aims all on the basis of hopefully successful data from Phase 1a.
For the record, I have responded to Andy's email in supportive manner on the basis of waiting for the BoD's reaction to the oversubscription and announcement of what next.
GLA
Exactly my sentiments Elcap!
The world is very corrupt.
Pharmas and financiers just a different form of criminal.
PH l would hazard a guess involved and if they were how of benefit have they been to Sareum.
The did they fully advise Sareum on the pros and cons of this finance.
Whichever way we look at it there has been nothing but downward pressure on the SP.
Last thing at end of day heavy sells.
In parallel with the late at night early morning repetitive deramping brigade.
All in the same boat to create as much uncertainty and doubt as they can. Unfortunately there are those here that feed them.
Regards
Elcap ... Spot on ... That why I said I found RGOd reason for suspension interesting ... agree we need to kick RF and co into touch ASAP ... Anyhow happy to see the rise today. LH&K Mafuta
Perhaps the BoD are hoping that RF have gone to the wall by Aug 2025. It'd be a fitting end.
You'd certainly hope Clive Birch knows precisely where we stand re who owes what and when. He should now be advising T&J whether or not to utilise the excess WRAP monies to pay them off or press on with 1802.