RE: Buys currently 5x more than sells.8 Aug 2023 13:51
Hello Potnak. The current raise, if fully drawn down, would represent a dilution of around 12% based on the current share price, at a share price of 2p it's a 6% dilution. Whilst sharing your concerns that at some point (Most likely if we have to fund P2/P3) the company would need significantly more capital, which could represent a considerable dilution. However, that would require shareholder agreement and most likely a 75% majority to pass. It's my belief that as private investors we still hold considerably more than the 25% requirement to vote down any resolutions. So whether TM likes it or not he's stuck with us for the foreseeable future. Having met him a few times and corresponded with him also, I would be pretty surprised if he / they attempted to shaft us (We know where he lives) :+). IMO it's most likely any large future raise would be open to existing shareholders, and hopefully at preferential prices to reward the loyalty shown to SAR by its shareholders over many years. The next six months are critical to the future of SAR, if 1801 passes P1A/B then we will be looking at a share price considerably higher than the current level, we also know the outcome if it doesn't. The sooner 1802 is developed and put into trials the better, as we then cease to be a one trick pony. Yes of course I'm aware of CHK1 but feel any news on it progressing is a "Brucey bonus". Let's hope the current impasse in shareholder sentiments surrounding the RF funding is behind us soon and we can once again focus upon shareholder value and an increasing share price. Gla. Andy. ;+)