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HBD. Completely agree. If IG were involved, I definitely would have participated.
Cracking result from the wrap though. Funding resolved for the foreseeable. Release 1a results. Design 2a trial. Licence/buyout.
SAR737 news could also land at any time. Hopefully this is the last placing required for Sareum
Just think how much more it could've been if Halifax (and others) had taken part. I may have to write a stiff letter to them.
Exactly right BA. If they had asked us back then most LTH’s - I am sure - would have supported a cash call. We are a resilient & well researched group of shareholders….
Good luck, Brighty
Yep, pretty weak all round Basil, today has been good though, pleasantly surprised, well done all
The already invested shareholder has raised £1.12 million
Hi Laz - thanks for the reply. It would be good if we could pay off RF and cancel any warrants but I suppose we're better off using the funds to progress 1801/2.
The next question is will the MMs play silly buggers on Monday by significantly raising the sp to catch out early bird S&S ISA buyers before dropping it again?
I want to say a well done to all who committed to the WRAP, to raise more than triple the required amount is a great achievement, and hopefully with some care from the BOD with the cash and a little luck with offers / clinical studies results we should see a steady march back up to the pounds not pence. Difficult to say for sure, but i sure hope this piece of the puzzle is set in place for this to add some confidence from the market and demand can start to take hold
Again, no mention of PH at the bottom of the RNS
The RNS doesn't specifically confirm that all requests have been met in full but that's certainly the implication, based on posts from wolfie, Mafuta etc. Well done everyone! Great result for SAR too, raised nearly as much from PI's as the II placing!
Hi HBD - you posed a question earlier today with regards to RF forward selling. I think they only have what is left from previously and they cannot forward sell warrants until notice to convert. They hold just over 1m warrants and would need to pay Sareum cash to convert them to issued shares.
Probably won't find out until the dust has settled on the 5th.
Now learn from this and promise to do better in future.
Anybody worked out the total new shares? looks like? I get 22 million shares or thereabout? Not counting the warrants that RF and the original HWNI have, both of which will need to be paid for, so there is that. Hopefully, the last placing we ever do.
The response to the funding today highlights that Sareum should have tapped its PI’s initially for financing rather than the disastrous RF deal which has destroyed the share price over the last year. Hang your heads in collective shame SAR BOD. We have backed you all the way, again.
Somebody here did mention that he thought the WRAP would be over subscribed 4 times.
Of the £1.12m raised from the WRAP Retail Offer, £10,000 is from a director of the Company (as previously committed in the announcement on 28 March) and £50,000 is additional interest from an institutional investor on the placing book, which WRAP has agreed to settle.
As a result 1802 back in play - great news. Well done all.
RNS out £1.12m raised from Wrap
If the notification is correct I got the full subscription too
Wolfie I got the same notification as you but I guess we'll have to wait and what we have finally got ... LH&K Mafuta
Nice one, Boil! But of shrewd trading you di there. Did you sell over 20p?
Oh, interesting. Perhaps I've got it wrong then. I'm sure they said shares wouldn't be allocated until tomorrow at the earliest. Anybody else picking this up?
Very hard to estimate. A savvy board might have only extended the offering if there was enough demand to look impressively oversubscribed... If so I'd go for at least double - maybe even £1million?
I just hope they haven't extended it for a paltry amount of oversubscription.
Could be wrong then - apologies if misleading. My valuation includes the extra shares I applied for in the total shares held and the original trade ticket is cancelled with a subsequent trade ticket saying completed.
Yes, I got full allocation of a 6 figure sum (shares not £) too. Bodes well on one side, not so much general dilution on the other.
You haven't got anything yet wolfie. AJ Bell have just created a placeholder with the shares you've applied for, separate to your existing holding, same as the other brokers have or will. You'll have to wait until tomorrow at the earliest to find out your actual allocation.