Member Info for NAV_Mike

Dunno foggy, my invite must have been lost in the post :)

The weekly update will be a day late next week as I am away for a long weekend

I know, I know......sleepless nights and anxiety over the lack of data, but will be back to normal on Tuesday lol

Well a quick search on "Singer Capital core business" throws up capital raising and M&A advisory.....so im none the wiser. I might be wrong, but I think they are regarded as rather more up-market than our friends at Peel Hunt

I wonder if the round number sells are coming from our previous large seller Woodland Capital who went under the 3% in April 2024? They could be using this burst of activity/liquidity to exit further....unfortunately we will probably never know. In any event the sells continues to be mopped up

This weeks price action suggests either an offer, or some kind of deal that eliminates any cash issues they may have had - ie licence disposal / farm out

The PMG link is indeed interesting because of Serica

ISB.....I know you arent a deramper mate, but jeez this relentless negativity? Im still only neutral on SEE as PM has a lot to deliver on, but just maybe the tide is turning when they said it would....

A LOT of selling is being absorbed today, and if anything the price continues to creep higher

Suggests someone is mopping the sells up in the background. Certainly been a while since weve had such a burst of activity

Well someone was keen to shed a few this morning at 15+ and its all been absorbed nicely. Most encouraging

Aside from confirming details of what the company has been up to and what its plans are, it is the cash position that I will be looking at closely. (No thats not a suggestion of anything bad coming!)

In the last results, which may as well be ancient history, there was a low cash position, but we were told they would be getting reimbursed for certain development costs - however I dont think actual £££s were ever mentioned?

Presumably funding will come via the HALO setup, or maybe the sale of non-core assets? Once we have a bit more detail, I will be a happy bunny

Well the 'noise' on this board has died a death, and daily traded volume is doing the same - strange comincidence eh?

I can handle SAR flatlining while they hopefully get things sorted, but would obviously prefer it do so in the 20s rather than at 13.5p

Well weve seen a decent move on just a reasonable increase in buying. Who knows where we could end up if they can deliver some actual postive news on developments

Yup....a definite stirring in ORCA's loins :)

Lets hope there is upcoming substance to this move, after several months of radio silence

Fine by me...its only meant to be for info anyway

Half of the fund size you mention is £37.31m of which £37.2m has been spent. Im not going to clutter up this thread any more arguing about hypotheticals.....I said at the start of this exercise it wasnt a MENSA level spreadsheet, and there are some variables we can only guess at.

I tell you what then ValueS, you run the effin spreadsheet if me being potentially out by 1 day gets you so animated. You are whining about a potential difference of £100k when neither of us know the actual exchange rates that have been used since the start of the buyback

Made it past the halfway point yesterday (just)

Our daily spend has dropped off noticeably (£739k > 470k) since the share price had its recent upwards spurt

Bobbler

Knock yourself out, be as pessimistic as you like, but dont pretend you have any clue whats going to happen as far out as 2027, any more than I do.

The whole board here was relentlessly negative over the weekend so it wasnt any surprise when the selling started today. All this seemingly as a result of a presentation that sent most people to sleep. Lest we forget, when the RNS hit last week, most were mighty relieved.....now we need to get back to the serious business of talking the price down

Bobble - you forgot to mention the chance of an asteroid landing on Sareum HQ tomorrow and leaving us all instantly bankrupt

Such detailed negativity shouldnt miss out such a real and present danger imho!

Weekly stats updated

Barring something very weird happening, today will mark the halfway point of the 2025/26 buyback. Subject to feastive season shutdowns, I would estimate somewhere around end-January for completion

Week 11 24.10.25

Total shares repurchased to date 17,049,021

Total vwap spend to date £36.7m

Average vwap price paid £2.1547

Average daily vwap spend £667.9k

Nice to be able to report on a very positive week. Discount of share price to vwap swung right round to become a surplus of 4.7p. Average daily spend fell by a very marginal £1.1k on the week mainly thanks to a very low spend Friday. Projected buyback duration was unchanged

Based on $100m = £74m, buyback is projected to last 111 trading days / 56 days remaining