RE: RF just got given 3% of SAR Shares11 Apr 2024 08:00
Hi Krusty and Cobalt,
1. The reality is that the WRAP offer was NOT open to a large amount of Sareum's loyal private shareholders although some were eventually invited but too late, for example see Andy's post.
2. I would suggest that the uptake at 10p would have been significantly higher if it had been widened to all PI's via their brokers and that Sareum could have raised much more via a bigger WRAP offer. We will get a lot of waffle from the BOD that this was not possible due to timings but they could have. That's a fact.
3. I'm just not sure if Sareum want a large PI shareholder base (again) as we sometimes are made to feel an inconvenience. e.g. The disdain shown at the last AGM, in particular, was a poor show.
4. It's not a "conspiracy theory" as you state. It's actually based on 14+ years of being a Sareum shareholder and understanding the loyalty of the investor base here. That is something that the BOD failed to do with the WRAP offer.
5. I've been buying Sareum shares at historic lows for many years (14+) and only recently went in to the red here. I had 6.4 Million shares before the consolidation which became 128,000. On the back of an envelope I worked out a while back that I had invested far more than (some of) the executive directors bearing in mind that my shares were not options / gifted but actually paid for in hard earned cash.
6. To witness the shambolic self inflicted share price crash from 440p to 10p has not been a happy experience having been over x 30 up!
7. I'm normally pretty good at spotting a share and selling it at the top. I certainly spotted a good one in Sareum all those years ago but unlike with GGP, ARB, SNG, NCYT, RKH, PYC and a few others that have done brilliantly for me in my ISAS I did not sell Sareum. Instead I believed Tim Mitchell and Stephen Parker's assurances about creating shareholder value. That was a big mistake as the collapse of the share price and value / MCAP of Sareum has been a car crash of epic proportions.
8. It's more than likely that we will get the usual waffle and pompous blustering about creating shareholder value from its new base of 10p (ignoring and without an apology for the share price destruction) but my point is these guys have overseen a -90%+ reduction in value since 2001. That's a fact not a conspiracy theory!
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