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If they have been gifted/ given 2,900,000 shares doesn't this take them above the 3% disclosure level (or is it 5% for aim).
A TR1 would have to be issued confirming total shares held with further disclosures for every 1% change until such point they go under 3%.
I couldn't verify disclosure levels for aim.
Any confirmation from anyone regarding AIM disclosure levels would be appreciated.
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Sareum Holdings plc
("Sareum" or the "Company")
Issue of RiverFort Subscription Shares
Cambridge, UK, 9 April 2024 - Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer, announces that it has issued 2,900,000 new Ordinary Shares in the capital of the Company to RiverFort Global Opportunities PCC Ltd ("RiverFort"), in accordance with the terms of the Facility as announced on 3 August 2023.
As announced on 3 August 2023, the Company entered into an Equity Prepayment Facility with RiverFort (the "Facility"). The Company has drawn £2.3 million to date pursuant to the Facility from two prepayment deposits. After this issue of 2.9m shares to RiverFort, the Company now has an outstanding balance of circa £0.8 million under the Facility. Any balances pursuant to the Facility are not due for repayment until August 2025 (the "Maturity Date") and the Company expects to settle all balances by the issuance of Subscription Shares prior to the Maturity Date.
As noted in Sareum's RNS of 28 March 2024, the Company does not intend to make any further withdrawals pursuant to the Facility with RiverFort.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange plc for the admission of 2,900,000 new Ordinary Shares to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. (London time) on Friday 12 April 2024.
Immediately following Admission, the total number of Ordinary Shares in issue will be 98,578,309 and the total number of voting rights will therefore be 98,578,309, and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Terms and definitions used in this announcement shall have the same meaning as ascribed to them in the Company's announcement dated 3 August 2023, unless otherwise stated.
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I received an email from them
AJ Bell Customer Accounts Team
11:59 (8 minutes ago)
to me
Dear Investor
We wanted to alert you about a Retail Offer by Sareum Holdings plc, a stock you hold with us.
A Retail Offer is an opportunity for existing shareholders in a company to buy more shares, usually for cheaper than the market price. It’s only open to existing shareholders, not the general public.
The offer price for this Retail Offer is 10 pence per new Ordinary Share.
You can see full details of the company announcement here - please ensure you have read and understood this announcement and its accompanying disclaimers.
If you’d like to take up this Retail Offer, here’s what you need to do:
1. Log in to your account and make sure you’ve enough available cash for the amount you’d like to invest (adding more if you need). You can only apply for shares if you’ve enough available cash in your account. Please note: applications for this Retail Offer can only be made through the website
From ‘My account’, select the ‘Buy and Sell’ page
Enter this stock code – NEWAB14 – into the search bar, then select the stock that appears. Please note: this code has been created solely for this Retail Offer, so you’ll need to use this specific code
Enter the amount of money you’d like to invest. Once you’re happy, click to place the order
We’ll then place your application as a cash amount. Please note that the minimum investment is £100.
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Keep in mind this Retail Offer will close no later than 10am on Tuesday 2 April 2024 and may close earlier depending on demand. Submitting your order doesn't guarantee that any shares will be allocated to you.
The offer might also be scaled back from the amount you choose to invest.
If the investment you make is scaled back, or doesn’t get placed prior to the Retail Offer closing, your invested amount will be returned to your available cash balance as soon as possible.
AJ Bell has been appointed as an authorised Intermediary for the share issue and will receive an intermediary fee of 0.5% of the aggregate value of all shares allocated to our customers.
If you have any questions then please contact our Dealing Services Team on 0345 543 2600.
Remember that the value of your investments can go down as well as up and you may not get back as much as you originally invested. We don't offer advice, so it's important you understand the risks. If you're not sure, please speak to a financial adviser. Tax treatment depends on your individual circumstances and rules may change.
Yours sincerely
AJ Bell
AJ Bell Customer Accounts Team
|
AJ Bell
Tel: 0345 543 8929
Website:
www.ajbell.co.uk
As many on this board, I've been watching the slowest of slow motion car crashes in a state of shock and sadness.
Whilst I was fortunate enough to take enough off the table in 2021 to retire, I still hold a 6 figure number (qty now not value) of shares.
One option that hasn't been discussed or I don't think it would be in lieu of an even more damaging dilution would be still sell a stake in SDC 1801 or 1802.
Thoughts.
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Sareum Holdings PLC
("Sareum" or the "Company")
Notice of Interim Results and Trading Update
Cambridge, UK, March 12 2024 - Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer, provides notice of the timing of publication of its interim results, a trading update and an update on its Equity Prepayment Facility with RiverFort Global Opportunities PCC Ltd ("RiverFort").
The Company announces that its results for the half-year to 31 December 2023 will be published in the week beginning 25 March 2024, in which the Company expects to report an operating loss of £2.5 million (2022: £1.7 million), reflecting the cost of continued and additional investment into clinical research conducted during the period for the furtherance of its SDC-1801 autoimmune disease programme.
As announced on 3 August 2023, the Company entered into an Equity Prepayment Facility with RiverFort (the "Facility"). The Company has drawn £2.3 million to date pursuant to the Facility from two prepayment deposits. The Company currently has an outstanding balance of circa £1.3 million under the Facility. Any balances pursuant to the Facility are not due for repayment until August 2025 (the "Maturity Date") and the Company expects to settle all balances by the issuance of Placing Shares prior to the Maturity Date.
The Company previously announced that the Facility included a committed third tranche prepayment deposit of £300,000, which remained subject to the terms and conditions of the Facility. Due to downward pressure on the Company's share price, Sareum has been unable to draw down the third prepayment under the Facility. The Company is in discussions to assess alternative funding arrangements and has taken steps to preserve its immediate capital utilisation. Providing alternative funding is secured, the Board of Directors remains confident that the Company is on course to deliver topline Phase 1a results in Q2 2024.
Application for admission to trading
In accordance with the terms of the Facility, Sareum has issued a further 1.5 million Placing Shares. Application will be made to the London Stock Exchange for the admission of the 1.5 million Placing Shares to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00am (London Time) on Monday 18 March 2024
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We are pleased to have been featured in Business Weekly newspaper following our recent positive clinical update on our randomised and placebo-controlled Phase 1a clinical trial for our lead candidate #SDC-1801. These preliminary results indicate that SDC-1801 has the potential to achieve therapeutically effective dose levels with no serious adverse events.
Read the full article here: https://lnkd.in/e2zBMdqw
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Certainly given the amount of monies due in the next couple of weeks
1.7mn (£0.3mn + £1.4mn) represents +- 6% of our market cap as it stands.
It would seem that we'll be getting a TR-1 in due course if subscription occurs as expected.
Sareum and Riverfort will have to declare total shares held by riverfort.
We'll know how many shares they have in total and hope it doesn't take forever for them to sell.
We've not managed to hold on to .40 bid either.
All 7 MM's have .35 to sell.
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Yes I noticed that as well, stickmonkeytamer.
One broker has moved up to 40
the other 7 are still at 35.
Published Volume is small/ non-existent today, possibly some delayed trades will show soon.
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Jan 8
Johnson & Johnson and Merck on Monday
announced plans to buy cancer therapy developers on the first
day of a major U.S. healthcare conference, igniting what
industry participants hope will be a strong year for deals after
a solid end to 2023.
Deals announced on Monday had a combined equity value of
more than $6 billion, including one by medical device maker
Boston Scientific BSX.N for Axonics Inc AXNX.O . That follows
roughly $25 billion worth of U.S.-listed biotech deals last
month, according to data provider LSEG Deals Intelligence.
Meanwhile, over 8,000 people are gathering at the JPMorgan
healthcare conference in San Franscisco, in another sign of a
return to business as usual after the COVID-19 pandemic.
Global pharma companies' efforts to replace revenue from
older drugs with promising new ones were largely stymied in
2023, but looming patent expirations and easing financing costs
are setting up 2024 well, industry sources say.
On Monday, J&J JNJ.N said it would buy Ambrx Biopharma
AMAM.O for $2 billion to gain promising targeted cancer
therapies known as antibody drug conjugates (ADC).
The deal gets "the ball rolling on what seems to be a strong
start for M&A in 2024", said Citi analyst Joanne Wuensch.
Interest in these drugs has spiked and several related
companies have been acquired in recent months, including
ImmunoGen IMGN.O by AbbVie ABBV.N and Seagen by Pfizer
PFE.N .
Separately, Merck MRK.N said it would buy cancer drug
developer Harpoon Therapeutics HARP.O for about $680 million,
gaining access to early-stage immunotherapies being tested for
lung cancer and multiple myeloma.
Certainly we know the Pharma mega caps have cash to spend and pipelines to rebuild.
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