Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It is peculiar, but San Leon would pass the money to Computershare by bank transfer, Computershare would then produce cheques to distribute to shareholders.
My guess is that as the Company hasn't ever paid a dividend before they don't have bank details for their shareholders and thus cheque is the only method they can pay.
I agree though, it's taking its time. It's now been 6 days from Ireland but thinking about it, if they posted it on Saturday it may not have been collected until Monday, then 4 days to travel from the ROI...
VanVan, HL will credit your account upon receipt of the cheque (i.e. before it's cleared).
I have spoken to Computershare registrars today who have confirmed that all payments were posted by cheque (San Leon didn't offer an alternative). As the register is maintained in Ireland these were posted from Dublin but not until Saturday 30th May. Would explain the delay in brokers not receiving/applying payment.
Obviously a placing isn't dream news, but have seen placing announcements that are a lot worse.
There is a focus of where this money is going, rather than just for 'working capital' or to stay in business. The price is also not too bad considering the current share price.
Personally think this line is quite interesting - one of the few references SAR have made by RNS regarding Covid
"The net proceeds from the Placing, together with any grants awarded to Sareum, will also help the Company explore the potential benefit of our TYK2/JAK1 inhibitors against Covid-19."
Will keep my fingers crossed.
Unless I've been a bit slow on the uptake, Num4 is referring to the Sareum website now giving reference to Covid19 in its overview with 'Grant applications in preparation'. Separately there is a specific Covid19 page which states "Clinical trials of JAK-family inhibitors ruxolitinib, tofacitinib, baricitinib, TD-0903 in Covid-19 patients are in progress or planned"
All looking good!
Not directly SAR related but a more detailed view of the UK governments approach;
It is possible a safe and effective vaccine will not be developed for a long time (or even ever), so
while maximising the chances this will happen quickly where the Government can, it must not rely
on this course of action happening. There are currently over 70 credible vaccine development
programmes worldwide and the first UK human trial has begun at the University of Oxford.
Even if it is not possible to develop an effective vaccine, it may be possible to develop drug
treatments to reduce the impact of contracting COVID-19, as has been done for many other
infectious diseases, ranging from other pneumonias and herpes infections, to HIV and malaria.
For example, drugs might treat the virus itself and prevent disease progression, be used to limit the
risk of being infected, or be used in severe cases to prevent progression to severe disease,
shorten time in intensive care and reduce the chance of dying.
Researchers may find some effective treatments imminently – for example from repurposing
existing drugs – or might not do so for a long time. Not all treatments that have an effect will be
game-changing; the best scientific advice is that it is likely any drugs that substantially reduce
mortality or are protective enough to change the course of the epidemic will have to be designed
and developed specifically for COVID-19, and that this will take time, with success not guaranteed.
However, notwithstanding that many of these will fail, the economic and societal benefits of
success mean the Government will do all it can to develop and roll-out both treatments and
vaccines at the fastest possible rate; the second phase is a means of managing things until the UK
reaches this point.
Source: Page 28 - https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/884171/FINAL_6.6637_CO_HMG_C19_Recovery_FINAL_110520_v2_WEB__1_.pdf