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0.35p old money ... what a joke
BILL : Failure to obtain funding at a much higher price, Consolidation and the RF Disaster ;
How many more balls-ups will you allow him if you save his bacon here by funding his continuation ?? .... I think this BB will be sorely divided on this front
For me Parker out and TM moved sideways on a reduced salary !!! ... they have had enough chances and have right royally screwed up this time
But I will only take up the offer if PARKER is out of the door ... He is not competent in this role and we cannot afford to have people at the helm who cannot deliver
If the placing was mainly taken up by the current shareholders then it would be nice to keep it at 25p and build from there rather than reducing the price further and having further to climb ... AIMHO only ... and less overall dilution of our existing holdings
More round number chunky sells - my guess is RF are now selling everything to get another top-up at low ball prices before any alternative funding solution removes their ability to RAPE SAR further
HBD - sounds like a win-win scenario if it materializes
But lots to discuss and negotiate ; BODs performance ; Salary expectations ; TM's position ongoing as he is not born to the CEO role; Additional presence on the BOD to protect shareholders ... which I thought Owens was bought in to do ; Termination payments for a) Parker and b) RF .... etc etc
Large round numbered SELLS still dropping in -- 30K just gone through
Is this still RF selling ? - i would have assumed that they would hang fire now and wait for a recovery to take advantage of warrants and increased share price for any topped-up shares they have been granted at such low prices
There is no point us all investing in SAR open options to the tune of 300K if SAR BOD are going to continue taking 50K per month in salaries (20K TM and JR each and 10K SP)
They need to proactively reduce their salary drawdown's and also provide greater levels of comms on the way forward
FWIW : AndyMKDons message worryingly felt like a real possibility of the BOD shafting us and sitting pretty at the expense of the shareholders ... hopefully we have some knowledgeable individuals keyed up in company law who can ensure that if we do lose everything so do the BOD also
1% of shares traded and MMs taken 33% off of todays MC
Or was the RNS deliberately worded in this way -- Lets just say GSK want the compounds and have lined up lucrative roles for our BOD should the company go BUST !!!
Stranger and more despicable BOD antics have been done before in other companies ...
Hope this is not the case !!!!!!
Silver - 20% goes straight away on salaries fro TM (200K) , JR (200K) and SP (92K) .. so it does not leave a lot ... especially if you add to that all of the admin charges with the RF deal
What we do not want is the shareholders to lose everything, the company get trashed and the BOD to move to the company who picks up our assets on the cheap on similar salaries to those they are on now ... If we lose they must also lose !!! not just move sideways with our compounds into a new company or large pharma !!!
LAZ - if its a placing on its way then why kill the SP now with this news prior to a placing which will now be sub 20p ... Using your words 'it stinks' of foul play because the SP collapse has not finished - it will fall again on 25h March when the actual results are presented and then again on any placing .... THEY SHOULD HAVE PLACED PRIOR TO THIS COLLAPSE !!!!!
The Company is in discussions to assess alternative funding arrangements and has taken steps to preserve its immediate capital utilisation.
What steps to preserve immediate capital utilisation ? .. only 2 areas where the money was being burnt IMHO - SALARIES (20%) and Trials (80%) ....
Are they going to defer salaries ( or take them in Shares which could be very rewarding for them if the SP recovers ) or are they going to delay the trials >
20% of all working capital goes on salaries ... £500K + per year
Time to defer salary payments or take shares !!!!!!! Time to show us they are committed to us and the company
He would be organising and EGM now !!!! - Parker and Mitchell out
FFS ... I just hope they have been looking at alternative funding since the AGM and not just expecting RF to continue to KILL us !!!
In accordance with the terms of the Facility, Sareum has issued a further 1.5 million Placing Shares.... so basically they trashed our share price from the original 103.5p arrangement and now have another 1.5 Million in their hands at a ridiculous low ball price
So we are now again at their mercy ... If hey sell we are completely screwed ... OR DO THEY HOLD for a recovery ?
Either way Parker and Mitchell have been well and truly played here !!!!!!
warthog -- be careful ****ging off parker and mitchell on here ... many still are very protective of the useless pair ... one has no financial abilities and one cannot manage !!! but still they are able to look after themselves with large salary increases
time to call for salary deferrals !!!!!!!
Don't get too excited - only 250 shares * 2 - approx £150'ish
Is that 20 lots of 33 shares bought ? 666 in total