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Hopefully you're right. I don't mean to be negative, but I'm desperate that the well-intentioned in and around the company learn from this and win out over the malefactors.
The move to Australia and the recent placing were nimble moves that give me confidence, but perhaps a little too white-knuckle for my liking. Here's to calmer waters, to unmix the metaphors.
I don't understand the RF 'arrangement', and I don't really want to. The fact that nobody else seems to be sure either indicates, I think, that it is working as intended by RF, to befuddle and bamboozle. Surely TM must be feeling sick and perplexed at the way his company has been taken so quickly to the brink of destruction. And that can't have been an accident. And it seems we're not out of the woods yet.
My biggest worry for the last few years has been not that the science will fail, but that the closer we get to success, the harder it will get to avoid getting mugged. In the last few weeks exactly that looked to have come to pass. I may be wrong, but I get the impression that the creators of this project have been far too trusting, unaware of the sharks they are swimming with. I suspect that recent challenges, namely the MHRA debacle, the unnecessary consolidation, and now this punitive funding deal have been part of a concerted plan to wrest control of the assets, either to obtain them cheaply, or to put them on ice.
I had hoped that the WRAP and placing was evidence that TM had woken up and acted to save the company. That and the Australian move both struck me as pitch-perfect. I am sure he would prefer to be in the lab, but he needs to direct a small part of his considerable intellect to the dangers and complexities of financial and commercial shenanigans. I wouldn't trust anyone, especially where such enormous sums of money are involved.
RF have run rings around the BOD, and will continue to do so until they achieve their objective. Surely they need to be excluded as quickly as possible? A few individuals who should have known better have some questions to answer, in my opinion. It looks like incompetence, or worse.
Apologies for the length. I probably won't trouble this board again soon. And in the unlikely event that anyone referenced above should read this, I apologize if I am way off the mark.
I have been invested since early 2011. I suppose that makes me a LTH, or FLTH (fairly). I have found this board extremely helpful over the years, and would welcome opinions on a couple of questions.
Firstly, is it possible that the HNWI warrants were exercised last week at the behest of the Company rather than the investor? The reason I ask is because I haven't seen a convincing explanation as to why the investor would do it at this time. And I can't make sense of the condition "The Subscriber will also be issued one five-year warrant, exercisable at the Subscription Price, for every five Subscription Shares issued (the "Subscription Warrant"), which can only be exercised following the Company's the closing middle market share price being above 5p per Ordinary Share for five consecutive days." if "exercisable" means exercisable by the investor. What is the benefit to the investor or to the Company of such a condition? Other than giving the market a guide price? If however, the conditions being met, the Company can then require the investor to exercise the warrants, it seems to me to make more sense. The Company can call on further funds from the investor provided the share price has performed acceptably. It's an early exercise trigger.
Against this argument, the Exercise of Warrants RNS does say that Sareum "has received notice to exercise" the warrants. But there does seem to be quite a bit of constructive ambiguity in many of these announcements, so perhaps they don't want to make it explicit for some reason. Who's pulling whose strings? Anyway, there it is. Apologies if I haven't explained it very well. It may seem a small detail, but I think with the stakes involved it's important to understand the motivations of all the players. That leads to my next question, but I'll save that for later. Many thanks.