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Agreed - I have mentioned this a couple of times recently - maybe our BoD has been more astute than many on here give them credit for.
Even Puma stated that the City would have raised at a huge discount to the RF deal. In essence, the City will take the shirt of your back.
Agreed Silverfoil - it was a real surprise to me that we didn’t raise just after consolidation. It was the one major error that I think the board have to hold their hands up to. Unless the City wouldn’t play ball of course at that level due to there being no revenue and no science having been validated through trials.
PH allegedly went short and could have colluded to pick up cheap shares as RF sold down. RF made their money back so didn’t lose out due to additional shares being issued. Who will ever know unless there is a City watchdog investigation or somebody like Jeff Prestridge gets wind of what has happened here and over at Genedrive who were also mauled by the same combination. Too lightly regulated and with conflicts of interest largely ignored. I agree with Potnak observation about the shorting ban petition - too broadbrush and, even if debated, would get voted down. Politicians, Banks, Finance Houses and Hedge Funds all have their snouts in the same trough IMO and won’t ruffle feathers. To be fair, these cheap shares are a gift if you believe that Sareum can succeed and we need to play the game in order to make our own profits.
Fanti - the AIM is full of fledgling companies with no source of revenue and who have to rely on raising cash via placings. They all aspire to “make it” and move up a league once they have struck oil or gold or found success of some other kind. They cannot make progress without funding. That is what I was referring to. Where would you anticipate funding coming from if not from the City or shareholders? Sad fact of life I’m afraid
Big signals from the BoD that they are very much with us. Very encouraging. I think the 200k is a sell Colbalt. Sells were 10.52p this pm. The 150k is a buy.
@Potnak - no point in over thinking percentages etc: Fledgling companies need money which is why they are here. The why’s and wherefore’s are immaterial as without this we would not progress. The thought that this is the last chance for the BoD is a bit of wishful thinking I’m afraid as if they needed to raise again for 1801 ph2 or 1802 progress I am sure that we would approve it rather than hit the buffers. It’s what AIM is for. I think SOG and yourself were at cross purposes with values etc: as you both made reasonable points.By loading up at these levels and increasing ones holding it would mitigate the effect of the dilution for very little outlay.
Follow the news and/or corruption! We have crossed a very difficult hurdle and we should be pleased.
This is quite a positive report. The main takeaway for me is that we have re-established the status quo at Sareum. The science appears to be good as does operational progress. Now that we are over the financial scare I feel that we are very much back on track. Data for 1801 is imperative for progress including for 1802.
737 could be a Brucie bonus! The only thing left to sort is the market and sp. Hopefully, news will correct both.
Morning SOG - It would be good to get a firmer handle on progress and intentions for sure. I think the fundraising is a success and has sent a clear message to the BoD. Unfortunately, some of the questions you pose have no clear answers. Informal talks are exactly that - informal and would form no basis for a RNS.
Placing and wrap will go ahead to maximise availabilty of funds. This answered by the 1802 comment in the RNS.
I would certainly hope that we would stay in Oz if the opportunity is there. Once bitten twice shy in the UK I would suggest.
My own opinion is that the Ph1a data is the key to unlocking information and for 1802 progression. I do not think we will know about licensees until a deal is done. I say this for 2 reasons:
1. Informal talks are just that and hold little or no substance
2. Any serious talks will be the subject of a NDA.
I think Sareum is through the worst of its troubles with funding now in place again and validation of 1801 not too far off.
Hi HBD - you posed a question earlier today with regards to RF forward selling. I think they only have what is left from previously and they cannot forward sell warrants until notice to convert. They hold just over 1m warrants and would need to pay Sareum cash to convert them to issued shares.
Probably won't find out until the dust has settled on the 5th.