The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Peel Hunt have a report out today that the London Stock Exchange, including AIM could be stripped of small companies by 2028 as large well resourced companies prey on smaller weaker less resourced companies.
Would suggest that Peel Hunt look themselves in the mirror.
Meh, for £60k a year it looks like Edison just collated what a few posters here give out for free.
Good report still need to re read a few times lots of insights including outstanding RF shares I personally like Edison reports as they always seem to give that little more Info that the Bod are restricted with...
Joining the dots...SDC-1802 we believe that development work may be reinitiated following a partnering deal for the lead asset.
If you were short of cash, were potentially in a position to make the biggest deal of your life and had an interest free loan not due for repayment for over a year would you repay the loan now?
Also, Non dilutative partnership!
Interesting. Lots of points to digest there. One being, is they can make a cash payment to clear the RF debt.
I have said before I think some of the actions of the BOD look like a defence mechanism like a game of chess.
The way 737 has been played over the last few years with stall tactics, moving the payment milestones and now in the hands of an unknown company with no updates on progress stinks to high heavens.
If the pharma who has 737 also wants 1801, 1802 and the skill platform then they need to keep the financial pressure on Sareum to keep the upper hand.
Now that the BOD have strengthened their hand with enough finance to see 1801 and possibly 1802 developed where they have substantial value ( just enough to tempt a few suitors to the table) then this in itself would be enough to put pressure on the other pharma to show their hand and make some formal move.
The data from 1801 (with bio markers) indicating its target diseases with dosage should set the ball rolling.
All the best for all those holding and may this next tax year be good for our isas and pension pots.
Hello SOG and all.
Just read all the shenanigans with RF and it looks to me as though they made a loan to a company, pushed them into a position of weakness, and then acquired them for a song. This could well have been the plan with what they attempted to do with us. Nice try but no cigar!! However the BOD have got to now cut all ties with Riverfort as soon as possible and if it means using the WRAP funds to do so then do it. It just shows what a bunch of $cum bags RF are and the regulators should really make an example of these charlatans if they have any intentions of instilling some credibility into the failed AIM market.
However, my real concern is that our muppet management team almost fell for it. !! Gla. Andy.
I think get what you are aiming at.
Pay RF off and the remainder for development of 1801
Alliance News) - S-Ventures PLC on Friday agreed to sell its operating subsidiaries to RiverFort Global Opportunities PLC, in a deal which gives the former access to the AIM market, and the latter a chance to stem a "weak share price performance".
RiverFort will acquire the assets and liabilities of S-Ventures in a deal valued at GBP3.5 million. RiverFort will issue shares to S-Ventures in exchange and the deal will constitute a reverse takeover. RiverFort shares were suspended as a result.
RF as at 31 December 2023 there was a balance of £1.6m remaining to be settled, and as of 26 March 2024 this balance was £1.1m. We had some V large sells go through on the 28th/2nd, IMO we owe somewhere around £800k+ the additional raise via WRAP :) No Idea how it all works not an accountant but looks like they now have the option to clear RF away /
The Equity Raise RNS states that the new shares will be admitted, "...by 8.00 a.m. on 5 April 2024 (or such later time as the Company and Hybridan LLP may agree, being not later than 8.30 a.m. on 30 April 2024)."
So it looks like the BoD could still have nearly the whole month to decide on what to do with the proceeds before they have to issue an RNS saying if they're keeping the full £2.2m or reducing the number of placing shares (circa 9.5m) in order to go with the original £1.5m that they intended.
What I don't want to see is them taking the full £2.2m and quietly increasing their salaries back to pre-raise levels.
Riverfort have had suspension since 22nd March.
https://www.lse.co.uk/rns/RGO/suspension-riverfort-global-opportunities-plc-psk0c3aze01ib0m.html
Regards
They had £0.6m held in shares as at 31/12/2023 but there have been some obvious large RF sells since then. I'm surprised there's anything left but I don't understand the deal anyway.
If there's an Accountant on this forum, I think we'd all appreciate a breakdown of the deal.
I hope somewhere in corporate land a very large company are kicking themselves cursing the person who said “ ‘wait’ there’s going to be a fire sale and we will get this compound for a song”
I also hope the SAR board now have the respect and dignity to acknowledge what the shareholders have done thus far for the company. I’m waiting with much anticipation on the next bit of news. GLA
An RNS stating RF have no more shares and Peel Hunt are no longer involved would have (IMHO) a significant positive effect on the share price.
It would be good to know when they have no more shares to sell. Yes they would still have warrants but I think it would be a huge boost for PI's to know RF are out of the equation (apart from warrants).
Well worth cost of an RNS I think.
Elcap
Not sure how many they have left Elcap - can't be many. They have been issued warrants though for which they pay Sareum to convert to shares.
Is it not possible to buy RF's shares from them with the spare cash?
It would be good to see a RNS to confirm that PH have been given their marching orders.
It's very difficult to see any benefits whatsoever from their appointment.
Good constructive posts this morning from all.
0.7 million in tax credits that you had bought to the table Damion very pertinent.
So circa 3 million in the coffers.
Regards to all
With HbD figures + £0.7m Tax credits due in September that's a decent figure £3m and opens up many options. Previously the Bod and markets expect whoever licences 1801 will have the option to license 1802 so showing intent and actively moving 1802 forward would add more value to any deal being negotiated.
It looks and feels like all options are now on the table and there may be some licensing discussions already underway waiting on P1a results. GLA
Hi Laz - not sure I agree with your 'once bitten twice shy' approach (though I do understand it). The world changes and there may be many reasons why it could make sense to approach the MHRA again. If they've sorted their internal processes out and made it easier for compounds with no MTD to progress, ignoring this option might be akin to cutting off your nose to spite your face. JR may grind his teeth at the thought of dealing with the MHRA again but now we'll have P1a data that they can't dispute.