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just to add, i searched the https://convention.bio.org/ site for sareum and it came back with 2 results - one for sareum ltd and another, maybe more interesting one:
https://convention.bio.org/speakers/martin-gouldstone
"...he was previously a partner at results healthcare, where he co-led the healthcare practice;head of lifesciences in the uk for bdo, the lead for the m&a process in europe for *****iles, and business development and licensing lead at confirmant, pharmacopeia, sareum. he has extensive experience buying and selling multi-billion dollar deals across europe and the us and negotiating multi-year research partnerships."
sounds like he's a handy contact to have in your little black book.
I see the events page on the SAR website has been updated.
https://sareum.com/events/
Question is, will we have news on the outcome of the 1801 trial before the start of June?
Please excuse my ‘senior moment’ post below. How I missed that HYR RNS after scanning about four times, I’ll never know 😂
Hi Desamax
The half year report appears to have been issued on 28th March 2024, according to the RNS.
Good question certainly very late compared with previous 3 years!
Are we getting a half year report of have I missed something? 👍
And of course with KBC being a Belgian firm they'll know a few HNWs over there who may be also interested in the world of pharma. But I couldn't possibly comment (cough, cough).
I see that KBC Group bought PH out for £74 million in 2010, KBC been a banking and insurance Group. PH appear to get a good rating.
A fascinating watch!
Stephen Dilly, quietly confident, self assured, clear, highly credible, professional, hugely successful and clearly very well regarded.
What a prize it would be if he could be induced to join the Sareum board. Would be worth a further Wrap to raise the necessary funds!!
https://youtu.be/k0pjfszjdaI?feature=shared
PH could help themselves by asking James Steel to hang around for questions after any meetings he's attended. Though I've not been to one, I gather he vanishes as soon as the meeting is over.
Yeah but people are confusing causation and Correlation again. The SP was gradually dropping before the consolidation and kept falling after. The RF fiasco accelerated it further. If PH had managed to get some ii's they would be hero's but with no news due, it was always a big ask.
True, Potnak, we have no evidence that they had anything to do with bringing in RF or the consolidation however, try as I might, I can't find any shareholder on any forum singing the praises of PH. They do seem to have a bit of a reputation (whether earned or not). I've not come across the same level of disdain for, say, Hybridan.
In the absence of news, sentiment is what moves the sp and you can't deny PH are felt to be public enemy number one. At least now that RF are effectively out of the picture.
It may simply be a case of in the eyes of the shareholder, a broker can't win. They must always be the villain as a BoD would never shoot themselves in the foot. However our BoD are often chastised for not listening to shareholders so if enough have contacted the BoD to say get rid of PH then even if the collective anger is misplaced, what can the BoD do to appease the masses?
I don't know what to think about PH. We literally have no evidence that they had anything to do with bringing in RF or the consolidation. PH were engaged to try and get Sareum some institutional investors. To even be eligible for that, you generally need an SP of over a pound. If Sareum wanted investors the consolidation was a cheap way to cheat the system but it didn't play our that way as investors also want a degree of certainty and we were never going to get that until P1a or maybe 2a. As for RF, how do we know it wasn't Hybridan or Strand Hanson the Nomad/financial advisor? I mean, wouldnt our Nominated Financial Advisor advise on finance? If not, the deal would have gone across their desk at the very least. Again, I don't want a witch hunt but all roads lead to the board. End of.
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