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With the general anti-PH sentiment here I wonder if the BoD are gently trying to distance themselves from them. Using Hybridan for the raise might be the first step and once the BoD are in a position to announce P1a results, they could tie it in with a change of broker and watch the sp fly.
T&J aren't stupid so I'd hope they are able to put two and two together if all our financial woes really do stem from advice given by PH. Only the BoD will know the whole truth of the matter and I suspect T&J are as keen for the sp to turn around as the rest of us.
In the first 4 days after the placing, there were around 16m shares traded. RF end of day sells were very small (under 100k), which tells me that most or all of the placing shares were shifted by Hybridan in the first few days. If I remember rightly there were a large amount of unmatched buys on those days.
I'm sure many were bought by LTHs - the new herd didn't arrive for a few days. Hybridan have made a good amount on this placing - on AIM they often lead to SP under the placing price with a long drawn out process to clear trhe overhang.
I understand 100% why they wouldn’t start going down the road of dissing P.H
Many thanks for your reply Silverfoil13.
I’d say your thoughts on PH are also entirely justified.
Whilst I think it’s reasonable for Sareum (I assume the response wasn’t from an individual) not to comment on your thoughts, I do think it would have been prudent for them to comment on any positives from the relationship. The fact they didn’t, is, for me, somewhat indicative of their stance.
Kind regards,
Wayne,
Just to add, it looks like a broker has a 2-day exemption from issuing a TR1 if they still hold enough shares to warrant declaring it. So I'd suggest the 9.5m shares have been sold on or at least 6m or so have been otherwise we'd see a TR1 from Hybridan.
See DTR 5.1.4.R2 - https://www.handbook.fca.org.uk/handbook/DTR/5/1.html
"A market maker relying upon the exemption for shares or financial instruments within DTR 5.3.1R(1) held by it in that capacity must notify the FCA, at the latest within the time limit provided for by DTR 5.8.3 R, that it conducts or intends to conduct market making activities on a particular issuer (and shall equally make such a notification if it ceases such activity)."
Morning SOG - I did wonder that too as to who has those 9m shares. If any individual or company holds them they'd have to issue a TR1 so I can only assume they've been sold on to entities holding less than 3% of the company. Unless as the broker, Hydridan are exempt from that rule and can drip-feed them as required. I'd presume they stumped up the £955k and paid SAR meaning Hydridan could then profit from the sale into the market - perks of being a broker, I suppose.
At least PH didn't benefit as far as we know.
Hi MegRS
I asked SAR if the RF debt had been cleared and they confirmed yes it had.
I then asked if SAR had enjoyed any benefit from their association with PH and they said they could not comment.
The gist of my comments to SAR about PH were
Could you confirm any discernible benefit that SAR has enjoyed from the association with Peel Hunt because I am currently unaware of any.
It has been a sorry tale since PH were appointed on 29 Oct 21 when the share price was £3.20; the consolidation, which was, I guess, recommended by PH was on 4 Feb 22 when the share price £1.85; the calamitous RF funding, which was, again I guess, recommended by PH, was on 3 Aug 23 when the share price was £0.97p. The price then fell to £0.10p which was absolutely shocking.
With right advice surely we could have raised significant funds at £1 or more in early 2022 and that is what I believe our brokers should have been recommending at that time. This could have helped fund us through 1801 P1 and 2 and most of 1802.
Thank goodness long term holders turned up to help SAR out!
Ironically I have benefitted from the fall in share price to 10p because it was a big chance to top up which I took. I was also lucky to sell 1/3 of my original purchases in summer 2021 at a serious profit so SAR will never owe me anything.
All best
I’m glad you’ve been graced with a reply. Nothing more ignorant than ignoring a recorded delivery letter.
What were your ‘thoughts’ on Peel Hunt then?
It’s entirely sensible, and reasonable, to not express opinions; especially in writing, no matter what their thoughts are.
I still want Parker out even though, in essence, I have benefited hugely.
I was already in a 6 figure profit and carrying a 6 figure number of shares on a free carry. Then I took part in the WRAP and bought on the open market at up to 14p. Doubled my holding, still had profit out. Circa 0.4% of the company on a free carry.
I think we’ll sit around this level until the latter part of next week. Once RF have shot their load there should be a steady rise until results.
I may be wrong on my presumption, but these 9,550,000 shares would be sold onto the market for the benefit of Sareum and although the Placing Price was 10p, it has increased significantly since then.
At 10p is 955,000 pounds at 20 p 1,910,000 pounds.
Apologies for being a tad ignorant on this one.
A question l have is who holds the 9,550000 shares issued as part of the raise?
Arranged by Hibridian.
Really confused why everyone is upset about comms from SAR. They can't release any other information other than what has already been issued via RNS. They aren't going to tell you anything new. So there really isn't any point contacting them.
It sounds as bent as a dogs back leg to me absolutely sick of lack of info i rarely comment but sometimes you get so mad with the silence
I have received a response to my emails and letter SAR today. They confirmed that “Re the debt with RiverFort - we announced on April 23 that this had been cleared” (good news) but they said they were not able to comment on my thoughts on PH.
Yes will be great to see a start to positive updates and news flowing, I rather hope that they have a plan for dropping news, does anyone know if they can deliberately slow the MAD phase by perhaps agreeing an agenda date at the ethics committee sometime after actual completion. This they may hope let's RF sell out and then maximises SP impact as news starts to be realised, potentially also allows discussions with interested parties in parallel and might lead to sequential news drops in quick succession. GLA
A la Biodexa https://stocks.apple.com/ANfGBpfYPQFyBnYp0UwA1Fg
Perhaps a communication along the lines :
‘CEO Issues Shareholder Letter Highlighting/Reaffirming Progress and Expected Milestones in 2024’.
Andy
Totally in agreement
D.
Hello everyone.
So, after a few tumultuous months it appears a little bit of normality has returned i.e. no news from the BOD and no response to communications from investors.
You really would think that given the debacle of the last six months, they would be keen to engage with shareholders to add assurances of the short term well being of the company, and as a minimum let us know when they anticipate RF to have forked off never to darken our doorstep again. Maybe even an apology would be in order. Hey ho I guess leopards never change their spots. !!
Given H1 2024 is now rapidly winding down we should remind them that there are commitments they have made to release news in this half year. I truly hope they don't disappoint us and the markets with further slipages of their self announced deadlines. Nice weekend all. Andy.
Agreed, I have no proof of this but I would imagine a lot of the people who bought in and sold out quickly didn't hold a lot of stock and so were never in it for potential life changing sums. Instead they made a tidy profit and fair play to them.
There'll always be a place in the markets for short-term traders, & good luck to them. They help with liquidity. Whilst I can't speak for all LTH's, I'm not in this for a quick doubling of my investment, I want to be here when the potential in this share is realised. So I get far more worried when people say they would accept an offer of, say, £3 because that way, someone else is going to get the benefit come the day instead of me.
I think without significant scientific updates (new patents have not had the same effect) this is going to bounce around these lower levels. Looking at the volume of trades over the past few weeks and months we have to accept that a load of new people bought in at very low levels and are happy to dip out within days and weeks taking a 2x win whilst there are LTH who are well under water. I wonder how these lucky individuals are able to profit so quickly??? Hmmmm
Looks like we are mucked about with by MMs....
Marked up the other day for no apparent reason other to give RF a better sale price
Marked back down this morning for no apparent reason. If its a tree shake then its not worked
Unfortunately the reality is that the sole reason why companies like SAR list on the AIM is to have access to raise money.
They will do so by hook or by crook. Imo Sars bod are as credible as any. Although that's not saying much. With the compounds they have developed they have sold us the dream , they probably believe just like us that it will come to fruition. Many comments on here over the years question why the bod refrain from purchasing shares in the company to stabilise the share price at times when the SP is drifting down. Why should they when they can give themselves options that will be voted through on the back of any positive news.
Whatever happens here they will get there monthly wedge as long as the money doesn't run out.
It's us that take the risk. The odds are long but at the moment for us shareholders it's a risk that seems to be worth taking.
Thanks MattyBoy! I find the lack of communication quite bizarre and frankly not good enough. When I ran my businesses (retired now) I viewed engagement with stakeholders (of all types) as a minimum requirement; it helped set the tone and culture for the companies.
Good point, Matty. Greetings to PCS1954 and HBD, both of whom raised the matter yesterday of potential shareholder influence on the BoD. If B-B can become our proxy influence, that would be marvellous. Naturally he cannot be given privileged information, but if it were known that he was in contact, his positive comments here would be misinterpreted as that. Good is best done, they say, by stealth.