Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I suspect the BoD mainly work from home and only show up at HQ when they need extended face to face meetings. This would presumbly result in a lower cost on office rental though they'll still pay to have a sign outside the door.
Unless a source of funding shows up in the next week or so I think they might go for a public offering to raise about £3.5m in April. It might do the BoD well to also reduce their salaries and take bonuses based on share performance, that might help focus their 'business' minds.
If the sp falls much further, would they consider suspending the share whilst they seek alternative funding?
Regards.
Not quite, Krusty. As of 2016 HMRC classified anyone with assets valued in excess of £10 million as a HNWI. Prior to that date it was £20m. The people you describe are merely wealthy.
Hi C79 - I'm not sure NuMedii fits the bill as they seem more about using AI and Big Data to look for new treatments in general rather than being the "...company that is committed to advancing promising oncology programmes." (That's a quote from the answer to Q19 from the Dec AGM.)
As for ProLynx, an interesting possibility if they went for a triple combo e.g. 737+PLX038+chemo. Perhaps one to watch.
Regards.
As a slight aside since people have mentioned the MHRA - The latest issue of New Scientist has a 2-page advertising feature from the Dept for Business & Trade and the MHRA that tells us all how vital clinical research is etc. etc. Anyway, it says that by the end of June '23 although the statutory timeline for initial review was 30 days however some trials were waiting 150 days. The plan is now to double the number of clinical trials by 2027.
Regards.
Hi Blue - big pharma might be smelling blood in the water but that doesn't mean we'll be sold cheap. With patent protection on 1801 and good results we'll be worth more than £100m+ so let's not think about selling that large diamond we've got in our back pocket for the price of a Big Mac just 'cos we're a bit peckish.
I forget the name of the biotech who were offered about $600m but kept saying no and finally got about $6bn. Not saying that will happen to us but our IP is worth way more than our current m/cap.
Andy - I posted this the other day (and elcap, I suspect the BoD are busy with other things at the moment)
Hopefully this may reassure folks in the event things go bad to worse but please remember I'm not an expert, just a punter. I'd appreciate if someone can reply to this thread to either confirm my understanding or not.
Looking at who owns the intellectual property, the link to the various patent applications indicates Sareum Ltd.
https://worldwide.espacenet.com/searchResults?submitted=true&locale=en_EP&DB=EPODOC&ST=advanced&TI=&AB=&PN=&AP=&PR=&PD=&PA=Sareum&IN=&CPC=&IC=
So who owns Sareum Ltd? Companies House says there is just one individual with significant control - Sareum Holdings PLC
https://find-and-update.company-information.service.gov.uk/company/04863659/persons-with-significant-control
Sareum Holdings PLC is what we're invested in and no individual person has significant control i.e. the company cannot be sold off cheap without shareholder agreement.
https://find-and-update.company-information.service.gov.uk/company/05147578/persons-with-significant-control
So if I'm correct then we all own a share in the IP. The BoD will know they're outgunned in terms of not being able to accept any offers unless enough of us also agree.
Thank you for spotting this, Krone. At least it's a bit of good news for 1801 and it might've come at just the right time too.
Hi Mafuta - just pinged an e-mail off to both IR & Info @ Sareum just in case they're ignoring one of the mailboxes.
I'm trying to remain stoic but I've got almost 6-figures sunk into this so am feeling a bit nauseous at the moment.
Hi DP - not directly as they no doubt like a bit of privacy however I believe I tracked down the person who introduced them (or at least one of them anyway) via Linkedin.
A poster here who attended AGMs mentioned the name 'Pascal'. I typed 'Sareum Pascal' into my search engine (Duckduckgo) and scrolled down the results to find someone who fitted the bill. It took only a few seconds to find the person's linkedin page and I'm guessing they are the 'introducer'.
Hi all, I'm still of the opinion that if the HNWs are still on board they may take the view that they'll bail us out but only if they can replace Parker with someone of their choosing.
Hopefully this may reassure folks in the event things go bad to worse but please remember I'm not an expert, just a punter. I'd appreciate if someone can reply to this thread to either confirm my understanding or not.
Looking at who owns the intellectual property, the link to the various patent applications indicates Sareum Ltd.
https://worldwide.espacenet.com/searchResults?submitted=true&locale=en_EP&DB=EPODOC&ST=advanced&TI=&AB=&PN=&AP=&PR=&PD=&PA=Sareum&IN=&CPC=&IC=
So who owns Sareum Ltd? Companies House says there is just one individual with significant control - Sareum Holdings PLC
https://find-and-update.company-information.service.gov.uk/company/04863659/persons-with-significant-control
Sareum Holdings PLC is what we're invested in and no individual person has significant control i.e. the company cannot be sold off cheap without shareholder agreement.
https://find-and-update.company-information.service.gov.uk/company/05147578/persons-with-significant-control
So if I'm correct then we all own a share in the IP. The BoD will know they're outgunned in terms of not being able to accept any offers unless enough of us also agree.
Probably cold comfort at the moment but better to know where we stand should the brown smelly stuff hit the big twirly blades.
Stay strong, people.
Evening PCS/SOG - considering we must be in the final few days of the 1a trial, is it fair to assume we currently have enough funds to complete it? If so, then I don't see why we can't then do a public offering based on positive results & 737's on-licence to "...a company that is committed to advancing promising oncology programmes." (That's a quote from the answer to Q19 from the Dec AGM.) After all, SAR was clearly able to raise funds when it had nothing much beyond an idea.
It's been a heck of a day but I just wonder how much worse things could have been if everyone had dumped all their shares the day the RF deal was announced. Everyone selling up en masse would have destroyed the sp within a week meaning the Oz trial might not have been able to progress as far as it has.
Regards.
Evening FatherT - I get where you're coming from but presuming good P1a data then it seems plausible 1b would also be good. We're getting so close to the point at which 1801 could be licensed it'd be almost crazy not to get it across that line.
Exactly, SmartInv.
The original RF deal was for £5m and we've used, what, about half so far? So even if the BoD waited for the next financial year (a few weeks) and raised funds then, they could surely get enough cash to complete P1b. Yes there would be quite a dilution but so what when the survival of the company is at stake?
Presuming the HNWs are all still invested, they will not be content to watch SAR die off, leaving them nothing.
Based on what cash is required to get through to the end of this year i.e. P1b, you'd think one or two of the HNWs would prefer to put their hand in their pocket for another million or so rather than potentially lose everything.
And just to throw an crazy notion out there, what if one of them suggested RF to us, knowing it would torpedo the sp? They could then swoop in to take over the funding and get a significant number of shares at rock bottom pricing compared to their original buy-in. These people don't get rich by chance.
Hi Blue - perhaps Birch did try to steer them away. We just don't know. I imagine the next Investor Meets event will be rather busy with many shareholders out to get answers.
I wonder if RF's own BoD maybe thought they wouldn't have the funds to meet the next drawdown so sold off the SAR shares at an accelerated rate hoping the sp would drop far enough that they wouldn't be obligated to lend further based on the terms of the agreement.
You'd have hoped Clive Birch would have been monitoring things closely what with being a chartered accountant and all that. Surely he should have been looking at the sp drop and strongly advising alternative funding would be required sooner rather than later?
Well that's a bugger and a half.
Don't know if a HNW will step in to protect what's left of their original investment. Perhaps the BoD will look to sell off our interest in 737 to keep the lights on?
Hi Preyno - whilst that might be an interesting premise, the related RNS noted it's gone to a private biopharma company.