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Definitely explains the backdrop to raising funds. Maybe the BoD are not incompetent, are not trying to stitch us up and are not full of self-interest. Just desperate to succeed with very little financial support available.
All of the de-listing CEO's/BoDs cant all be incompetent fools can they. No wonder GGP are also looking at a similar move.
....so far. We may see some traders getting out this pm and/or some short positions closing ahead of the weekend and possible news next week. Nice to see the tide turning.
On a lighter note:
A man went to his Doctor and said" Doc, I got a very nasty reaction from that special hemorrhoids cream you prescribed for me.
The Doc said "Oh! I am sorry to hear that. Where, exactly, did you apply it"
"On the bus"
Good weekend all
Hi HBD - I think that is a very fair point and the reverse takeover of SVEN may well be a big factor in the decision making of RF. The impact on their portfolio containing Sareum would be severe. That being stated, I am very mindful of the intel we received here that PH were going short on Sareum and the next day, down we went and it has continued.
I am just glad that sufficient funds have been raised to get us over this hurdle. I am hoping that our financial woes can be eased quite considerably in the coming months
Lots of regurgitation of "blame" factors here and dissatisfaction and "The Board had better sort it out!" posts.
It is undeniable that the Board has overseen a PR disaster with the sp but it is the foresight/hindsight argument as ever.
Rewind to just ahead of the RF deal. We were all questioning and speculating where the cash for any progress would come from. Sareum are cash-strapped and have no revenue and no successful trials behind them. Puma has stated that they approached the City who were offering 30p per share. At the time, RF agreed a £1.03 per share deal. So did the Board act in our interest by potentially reducing dilution - I think they did.
RF then royally screw us all - Was the Board guilty of naivety? - Probably but we are not privy to conversations just the outcomes.
This Chatboard was awash with criticism and vitriol and speculation that this had all been set up etc: etc: rightfully, demands BoD action. This comes in the form of reassurance of no new drawdowns with RF, Director buys, HNWI buy, a placing to compensate for RF funds not being drawn and a wrap initially for £300k for pi's that was extended once it was realised that more could be raised.
So the Board acted very quickly and in accordance with our wishes. The sp fell to 10.3p and there was plenty of opportunity to buy at that level on the open market if pi's found themselves unable to participate in the offer.
RF are almost out save for warrants and £800k to be settled by August 2025.
With the benefit of hindsight and lots of time to pick holes in all of the above, yet more complaint, outrage and indignation ensues coupled with expressions of "or else"
I recognise that things have gone wrong courtesy of RF and some Brokers but try placing yourselves in that Boardroom and being part of the scenario. The Board can be forgiven that, due to the amount of pi vitriol being expressed here, that they would not get the necessary funds to progress due to pi dissatisfaction and they needed certainty. The City provided certainty. With hindsight, maybe they could have raised more as the appetite certainly seems to be there amongst us loyal shareholders. But they didn't know that at the time did they?
IMO Sareum are through the worst of this and we move into news periods and a recovery of the sp. I appreciate that, to some, I come across as an apologist for the Board. I am not, but I do think that both sides of the coin should be looked at and, more importantly, understood.
None of us like what has happened here but - lets face it - we have all been given equal opportunity to fill our boots at these low levels if the appetite was genuinely there.
Anyway, enough from me.
Thats fine Potnak and I hear you. However, my view is equally important. You use the royal "we" as if you are speaking for everyone. You are not, but I fully accept and respect your individual views and opinions.
I am expressing disappointment with knee jerk reactions which would only add fuel to the fire and also the amount of assumption and presumption presented as fact when it is clearly not fact - just somebodys angst or interpretation.
I can assure you that I am as disappointed as anyone as to where we find ourselves but I think that pragmatism and clear thinking is called for especially in a crisis.
Of course, in between all of these exchanges are Fudsters and Traders who will feed on genuinely held views.
I am an investor and I prefer to support my own decisions rather than jump on the bandwagon that promotes constant blame and negativity.
What is currently happening is all about sp manipulation. We are living through the consequences of the funding deal and we have been screwed on the way down and we are now being screwed on the way up by RF and brokers who may or may not be colluding with them. Pumped yesterday to 14p before the sells started hitting so retail investors were sucked in at a higher sp. Now the dump to 12p currently and the Brokers will get cheap shares back again.
There is little or no integrity amongst brokers or in the City for that matter. It is little wonder that Companies listed on AIM struggle with valuations and with raising funds.
Anyway, for sanity sake, look at what the BoD has achieved and where Sareum is both operationally and scientifically. Then compare the projected value of that achievement versus todays measly market cap. Happy to hold on until the BoD release positive or negative updates. Still following the news and not the chatboard angst.
Apologies for banging on but to continue, where on earth do you think we would find a quality chairperson, CEO etc: to join a Company on a deferred salary scheme and with no revenue or funds?
We really do need to get behind the individuals that have taken us this far so that continuity can bring us success.
Changes can be made but only in a structured and coherent manner. I see nothing wrong with our direction of travel and I despair at the amount of presumption and assumption being promoted as fact here.
Aber - this needs some clear thinking instead of the constant hand-wringing that is evident here. A crisis has been averted and the BoD have all bought shares. Yet many here just want Parker out and continually feed the negative doomsters with ammunition to spread FUD and to go short.
People need to get a grip and stop trying to create a bigger mess. When navigating a storm you don't throw the skipper overboard! Can you imagine the effect on the sp if any or all of the BoD resigned or shuffled? Carnage will follow. I strongly suspect a lot are trading and creating FUD. I am in Billys camp and will vote against any negative motion. I know a lot of others who feel the same way as myself but don't post.
RF holding etc: and the BoD out are all Red Herrings. Wait until calmer waters before you call for heads to roll. Other than that it appears to me that there is a lot of fake outrage out there in order to promote the sp drop.
FFS guys! Cross the bridge when we get to it in 2025. Why are you all hand-wringing as if it is an imminent repayment with a massive shortfall due to us hitting 1p? Let time eat into the problem and understand that cash could still be used. Jeez! Like all here I really want to see RF out or neutralised. This seems to neutralise them after Friday and I would not be surprised if some have been forward sold.
It may well be that by committing to issuing shares by the maturity date in August 2025 it just sits as a deferred liability. To commit to cash repayment when we have so little may well require the cash to be accrued and not used. A lot should have changed by Aug 2025 including any future cash position so a cash payment could still be made under the said Terms.
Thanks HBD - yes I am mindful of that and the RF warrants yet to be converted. I would not predict sp as it has a habit of biting back. All good here now particularly as "The Ar5e Formerly Known As Puma" (TAFKAP) has disappeared. Presumably shorts have closed and Sareum no longer in "distress sale" mode. Barring bad news I am expecting a smoother passage to higher levels
Morning Aber - not necessarily disagreeing with you but any short positions will be closing out before news which will further support any buying. Not many sells at this level and mms will need to take it up in order to attract meaningful sellers.
As mentioned last night, mms showing sp as down due to last nights u/t. They love obfuscation and manipulation
Opening tomorrow will be interesting. 14p was a U/T whereas the later trade is a sell. So anything below the 14p U/T tomorrow will show as a sell and could be used as a mm scare tactic from the off. I appreciate that most on here will know that but it may help some that don’t.