Member Info for elcap

I think Parker may have mentioned it in response to a stroppy email I sent to Dr's Mitchell & Parker a couple of years ago.

SSS123 -I'll buy the dip because:
a) You have told me not to. So that alone should be enough.
b) There were plenty of naysayers warning me not to buy the dips when we are in the 0.3 - 1p range. Thankfully I ignored them.
c) I believe the SP anywhere below 7p is an absolute steal

There are 3 reasons. I could go on but I think you get the message.

Thanks for clarifying ABer, my back of fag packet calcs where a stab in the dark.
So in short they are not earning massive salaries.
Elcap

Silverfoil - all of the directors (6 I believe) took a 33% deferral of their wages for at least 6 months. I think they saved the company £125k. By my maths that put thems on a average of around £62k per year. If that is correct, I for one am not moaning about them exercising their warrants. They would have expired in March 2022. If I was only earning £62k a year, I would be looking to cash in on warrants as well.

sss123 - really? I don't think they are earning hundreds of thousands each as a salary. Please can you provide evidence.

fater Ted - I am thinking along the same lines. Might be only opportunity they have , and it's not a huge amount. 2.M shares is a dorp in the ocean. There are LTH's on here who will have sold more.

Portsmouth - She'll be on you front if the SP keeps rising!

SP of £79. WOW!!! Hope they are right.

PJT12 - I couldn't give a monkeys whether UBS & DLA Piper sleep well in the knowledge that I think they know what they are doing. But I will sleep better knowing that they know what they are doing.

Horrendous. My average is 22p. Do you think a deal (however it is made up divi & SP, or straight forward sale reflected in SP) will be greater than my average? I think it will. That is enough for me at this time. The deal price will be what it will be. I am not looking past my 22p average. It's out of my control. If its 50p great, £1.22 marvellous. £3.5 fookiong amazing. greater than that, doesn't bare think about.
What's not to like. The question is: following the RNS are we closer to a sale / deal or not. I would say we definitely are. It's difficult to argue that the info in RNS puts us further back in the process.

DD is now complete, and we presume all went as expected. otherwise it would have had to be reported to market. Therefore we are now in the hands of UBS and DLA piper. They are running the deal process and will have an idea of what represents a bad / good / great deal for their Clients (EUA).
Todays's RNS is a huge step forward as it ends the DD process. Only final figs iro offer and / or acceptance of that offer.
I am confident UBS and DLA Piper know what they are doing.

*DD has been done

Misstestes -In response you your specific points
-----"The question was, when was DD completed? What has happened since?"
My view is the DD has only just been completed as bod would have to report completion to the market in a timely fashion.

In response to the next point:
If formal offer in not made, or, not accepted then company can continue other discussions with other parties. It would appear the bod are trying to keep all options open. I would hope this is a strategy advised to them by DLA Piper / UBS.
-----"That means DD will need to take place again. Yet another 6 month wait atleast".

Potentially that is the case. However you are jumping from A to D, there are 2 steps in the process that would need to happen first. 1) That an offer is made / or Buyer withdraws. and 2) If offer is made by Buyer, it is rejected.

The fact that the DD has been down, there is no more road to kick the can down, if that is what you think the bod are doing. The Buyer now needs to make an offer or withdraw. Dependent on the size of the offer If one is made) will determine the next step. Yes I agree, if the Buyer withdraws or makes a rediculously low offer then we are back to square on, albeit discussions with other parties are ongoing so we won't be right back to the start. But now that DD has been done, there has to be an offer or a withdrawal. 90% of all successful DD's resultin an offer so my money is on an offer.
If DD was not a success I feel the bod would have had to inform us of such as it would mean the deal was dead in the water. So take it that the DD was a success and now we expect an offer.

misstestes - I made a genuine effort to respond to your points. but you are clearly unwilling to engage in a reasonable debate, despite asking for one. Speaks volmes. Good day to you.

Misstestes - I will respond. In my view the proposal was made in May, the Proposer (Buyer) was given green light to carryout due diligence. They have successfully completed DD. It is now upto the Buyer to submit a formal offer. In the meantime the company have continued discussions with other interested parties, and are, as it stands looking to / prepared to / are advacning those discussions. Should a formal offer be made by the Buyer, it will have to be announced and bod will have adecision to make as to whether to accept it or not. If it is accepted the other options / discussions that it affects will have to be halted. (you can't sell something twice). If the formal offer is for part of the business then those other discussions can continue.
If formal offer in not made, or, not accepted then company can continue other discussions with other parties. It would appear the bod are trying to keep all options open. I would hope this is a strategy advised to them by DLA Piper / UBS.
The up side is that If a formal offer is made, it should increase the amount offered. The downside is that it can prolong the sales process and can increase the chances the Buyer decides not to play ball.
Either way I think we are nearing the endgame. If Buyer pulls out without making a credible offer (which is unlikely due to money spent on DD and appetite for the purchase) then company is reliant on those "other discussions" but its hand will have been weakened by Buyer walking away and sales process will be protracted. If Buyer puts in decent offer, as long as bod don't get greedy sale should go through quickly. IMHO we will know where we stand in the next 3-6 weeks.
AIMHO Elcap

Hi all, let's make sure all of our questions are submitted for the bod to answer.

Exciting times.
Elcap

Trimme / Strean - What questions are you going to ask the bod

Trimme - many LTH's were saying SP should have been 10p+ when the share price was 0.3p. (Some were even saying 28p at that time). The comments at the time were based on research and more research. Naysayers were saying SAR would never break out from sub 1p. The LTH's message hasn't changed, we believe we were right then and we are right now. It's certainly not rose tinted glasses. Does it have to happen this year. It will be great if it does, but equally I'm happy to hold for as long as it takes. If you think SP is going to go down, sell up f off and come back when you think it is going to rise.

I agree Trimme, everyone's opinion has the right to be heard. It is the balanced opinions based on facts that carry the most weight and offer th greatest insight. For example I have an opinion on nuclear fusion, my opinion has every right to voiced and heard. As does a nuclear scientist. One carries far more weight, substance, bearing on reality and is based on knowledge. The other opinion is mine and based on no knowledge at all, and/or on my own personal agenda. Now apply the same logic to SAR.

For balance there is a 4th option, but difficult to acheive. Buy in years ago at sub 1p, sell 20% of your holding when it hits 1p, reinvest the money when it drops below 0.7p, sell 20% when it hits 1p. Repeat this cycle for years, then watch as the market catches up and SP goes to 6p (but as high as 9p), still way short of your 28p target. Along the way, do a hell of a lot of research, battle derampers and wombles who try to convince you to sell, despite all the research you, and others on this bb have done for years which screams the opposite. Sit back and watch the SP go to heights of 28p and beyond (way beyond).

there a lucky number of us who have taken option 4. Some investing more than others. I didn't invest much, as I didn't have much to risk. Some invested 10x or more what I have invested. Over the years we have learnt (and earned) respect from each other. The info / research we have found has on many occasions forced the company into issuing an RNS. We do not blindly follow the board. We challenge them, engage with them and make our feelings known.
If you are a new holder I suggest you look at the posting history of both the positive and negative contributors on here. You can then make your own decisions. AIMHO
Good night to all.
Elcap