Member Info for Londonwolfie

Linde Engineering contributes less than 4% of Linde plc’s profits

If it closes tonight at 1000p, it opens up tomorrow morning, ex-rights, at 919.8387p

Could be wrong then - apologies if misleading. My valuation includes the extra shares I applied for in the total shares held and the original trade ticket is cancelled with a subsequent trade ticket saying completed.

Got my full allocation as per AJ Bell

I should add that Bloomberg has confirmed the initiation and PT, so he's not making it up potnak!!

I only have that snippet myself sent by one of my friends who knows that I have an interest in Sareum. I haven't seen the full note yet but may get it sent to me later on

Well - they have initiated coverage today with a 304p target price.

"After the Biotech rout of 1H22, investors should start looking for where Pharma will see mispriced assets: ideally those with minimal near-term cash requirement for clinical development, yet with strong therapeutic applications. Sareum has what we think is an overlooked asset class in the UK investment landscape: small molecules. Sareum’s lean business model looks to licence its promising assets to Pharma after early-stage clinical development (mitigating pipeline risk), and its ‘kinase inhibitor’ assets have potential applications across cancer and autoimmune disease. We see fair value of 304p (c.60% upside). Buy"

That’s so last week Bendog. Do keep up

Not two weeks ago it didn’t - which was my point

You are right in that it hit an all time intraday high of 13.5p but this was on 1st March. Closed that day at 8.5p - so see where you are coming from.

But CDL is still up almost threefold since the start of the year despite the pump and dump.

Share price action on CDL suggests you are mistaken. Stock went from a low of 5.825p on 30/3 to 7.375p two days later, following a drawdown of equity at a then premium (6.25p). Shares then fell back from 4/4 after interim results that disappointed.

Sure you have the right stock?

Hi HBD. I respectfully disagree - this is a done deal. There are always dodgy lawyers trying to threaten a company but there will be more than enough votes to carry this and the arb - Sierra’s share price is less than a 1% discount to the offer price - suggests the market thinks it’s a done deal too. There is the chance of flushing out a higher offer from another suitor (which as a Sierra shareholder I would be delighted to see) but there are no antitrust issues given Sierra’s size and Momo meeting an unmet need. So I would be amazed if Sierra remained independent.

HDB. I would likely get access to any note that PH produce. I know I can’t share it on here but I will set up a new email address which I will post on here and use that to take requests from anyone on here and forward the note

https://www.bosch.com/stories/sofc-system/

Quite possibly

Good job they invented that time machine to get you to the late 21st century though ;)

One of the other things I have noticed (and I will keep monitoring as it may just be temporary) but the volume the bid and offer seem a tad larger than pre-consolidation. So, at present, there is 7000 shares on the bid and 13500 on the offer. This equates to 350,000 and 675,000 in old money.

As I say, this may be temporary and I know that often in the past, you could trade more than was being bid/offered without any hassle, but if this reduces intraday volatility when there is no news driving the price, then that has to be a good thing.

To be fair, most companies would give a trading update at or shortly before an EGM. That way, no-one can accuse the company after the event of withholding information that is material to the share price (good or bad) ahead of trying to pass resolutions that amend the articles of association. Just my tuppence worth

And the fact that the price went from 4.90-5.00 to 4.80-5.00 five seconds after is a clue too

Hope you’re not my kids’ maths teacher maid ;)

I would hazard a guess that the irony of you starting your comment with the phrase “in fairness” would be lost on you Glen. Please re-read what I wrote, then wobble your head.

Of course I am not comparing Apple to Sareum. Only an idiot would think that I am or is incapable of understanding my point. Companies, small or large (which is why I used the largest company in the world as a example) perform splits or reverse splits without stating the costs.

As for Ceres Power, you have inadvertently helped to support my point. Ceres was an aim listed company with a market cap of £155.7m prior to consolidation (the figure you cite is the current market cap, so consolidation has clearly worked rather well for them). Pretty decent comparison I would say - but again my point being (as you know) that the cost of consolidation is buttons and if companies of a same size don’t need to legally disclose, then it clearly is an insignificant cost. That was my point, which I’m sure you knew anyway. But feel free to keep banging on about how Sareum needs to clear any expenditure with you before they make it

If it helps you feel less insulted, I would just point out that no-one informs their shareholders of the cost. When Apple did its last share split, guess what? It showed sheer contempt to its shareholders by not telling them the cost. I’m only using the example of the world’s largest company to help frame it for you.

I’ve been through the Ceres annual report as a shareholder there and when they did their reverse split (and treated their shareholders with sheer contempt too), the cost of consolidation wasn’t even broken out into a footnote let alone a line item in the annual report.

So two things to take away I think - either the cost is so minimal that even the auditors deem it immaterial to itemise (after all, it’s not like all shareholders have paper certs that need to be replaced) and/or these de minimis costs are part of the advisor fees. After all, there is a change to the physical articles of association based on the amended par value of the shares but the vast majority of the shares simply require a notification to the brokerage firm that holds the electronic records via the corporate sponsored nominee service.

Buttons.