Member Info for PCS1954

May just have a very supportive shareholder/shareholders who are willing to put the “coffers” into Sareum (as may be needed) in return for their shares now - I’m pretty relaxed about it, as eventually they come into play if Sareum progresses!

GLA

Can’t disagree potnak - question, do you think JR and SP will attend Vienna, then, to coin a phrase “we will be talking” !!

GLA

… to quote Mr. Jaggers “Take nothing on looks; take everything on it’s evidence”

My take on the last time we heard from TM of any significant “Drug Development” was 15th Feb 2024 RNS, yes, 19 months ago - we keep having little diverts, but, the glacial pace of our business model is astonishingly slow, simple question, who is representing us in Vienna and why - if TM on his “Todd” what’s the point, he’s part time!

GLA

Morning C79

Just think, all the various research notes the likes of Krone, HBD, you and others gratefully post on here in relation to Sareum’s compounds - if only and appreciate there are costs involved we could “market” such news as News Releases on a regular basis, I honestly believe this is something TM should be doing as COO!!

If you get a chance, have a look at Ideaya Biosciences website and their “News Releases” - weekly one liners, so easy!

Keeping digging and keep well !

GLA

Thanks as usual for sharing C79, I’m amazed how many various researchers obtain and use SRA737, to then publish “positive” releases!!

GLA

Sorry SOG, couldn’t resist - sounds like you tax affairs in an Eton Mess if you’ve been offered work in the dessert - please read as intended 👍

GLA

Fair to say Potnak that did make me chuckle and I’m sure there will be a few others on here with wives and/or partners who are underwhelmed by the Sareum share scenario, hopefully, as you suggest an upturn soon and perhaps the uncommitted Mrs P and her “Whole lotta love” then becomes a reality for tax purposes 😉

GLA

Ultimately, exercising warrants is a numbers game -firstly why would you exercise them if things looked bleak or you were not confident in a return?

Why buy when you can let them ride - some have an aversion in paying tax so minimise it, some have portfolios that are managed and move profits and losses around, again to minimise tax, some may wish to gift shares, therefore, you need to own them.

Next year there will be changes to IHT rules, personal circumstances change

Conclusion - many permutations as previously mentioned, all I’m saying it’s not necessarily a bad thing if people exercise them at these levels as they will have their reason and I do accept some will let them ride the time period, buy and pay their dues!

GLA

My understanding is that tax is payable on the difference between the current price and the exercise price - so if someone wants to increase their holding, far better to exercise now if good news expectant and spread into ISA’s, SIPP’s, Trusts etc and other tax advantageous schemes - just my thoughts (I’m no IFA) so DYOR.

GLA

Apologies, for my faux pas in my post below regarding TM and JR’s options - can’t believe what I posted other than beer O’Clock started a wee bit earlier today!!

GLA

Hi Hopkirk

I recall having a look, but, didn’t find any real substance - and didn’t follow up as other “events” took over.

Not sure if anyone else looked into!

GLA

Hi HBD, accept your analogy - I would counter currently we have a lot of “gravel” with potential “diamonds” within, just needs a good sieve and your shovel has just become a JCB 😉

Have a good evening 👍

GLA

Some serious discussion points being raised here today and the various conundrums - the one thing that sticks out for me, is that we need to see change in our sp value otherwise any T/O offer will be very low cap!

Getting control of SRA 737 could be the catalyst as any “deal” should provide cash, then good results in toxicity studies data opens opportunity to on-license SDC-1801 and then progress into SDC-1802, CNS studies etc…meanwhile, sp responds in value and Sareum becomes “wanted” without further dilution - our maximum mc was as stated £300m but with the equivalent of half the number of shares in issue today!

TM and JR’s options in 2 years are around 30p an approx 15 bagger from here - they won’t be wanting further dilution surely!

Going back to SRA737 I agree it appears stagnant, but, as co developers and knowing the current data and all the trials by researchers, TM and JR will have studied it’s capabilities and SP would not have brought in back in whilst edging CRT to the side if of no use - could be the much needed touch paper!

Not to forget, a licensing process with a pharmaceutical (doesn’t have to be one of the big boys) could then with progress convert into T/O with a significant base value!

I’m sure there are other opinions and would love to know the BoD’s “if the price is right”!!

Have a good evening.

GLA

Morning Potnak

You’ve just hit the nail on the head as to where my thoughts are - are we a “Jack of all trades - master of none” until toxicity studies data released?

Thereafter, with suitable finances is the Company sufficiently “manpowered” to create and maximise the potential or is JV the route, if so what will the roles of the current BoD be?

Yes, for me a buyout preferable - then, if I wish to be part of the Sareum “development”, I can invest in the new owners!

Of course, a “deal” on SRA737 could change the thought process !! - oh to be in the “boardroom”

Off out for a walk, supposedly to clear the mind 🤔

GLA

Good morning

Some interesting comments and views reading yesterday’s posts, I would just add that the Sareum BoD also have a responsibility to us as shareholders and hopefully, weigh up the Risk v Reward of the Company not only in scientific terms, but, also financial implications, timelines and the fact that two of our senior Directors have part-time roles (one I believe, alluded to SOG of being relieved as no longer worrying of the “financial” pressures in his transitional step down) and both getting to an age where retirement beckons - after all, no one is invincible!!

The Sareum pipeline may well be reaching the fullness of it’s potential once toxicity study data concluded and I would ask given above is there a succession plan to continue and/or alternatively time to pass the baton to a more financially able company for a fair and reasonable price - my current thoughts!!

Here’s to a good week.

GLA

Remember SP can only provide news of data if it has been provided, packaged and signed off, which I believe is the responsibility of the other BoD members, who are meticulous in their delivery as past history has shown - yes perhaps, SP should be shouting “get a move on” in our opinion, but, perhaps circumstances means he just doesn’t need to!

And yes, he may well have taken a holiday, who knows? he’s human after all - if he gets it right, I think a lot on here will be having holidays too!

Enjoy the weekend!

GLA

Hi SOG

My understanding is that employee options have a vested date whereas shareholder warrants have a timespan with notice to purchase at their discretion (whatever their reason) - I need would need to check, but, I believe TM and JR’s options are Oct 27 and higher than 12.5p - also, depends on terms of options if they are valid in any buyout etc. so not a straightforward scenario.

As an aside, BB said critical period ahead for Sareum, couldn’t agree more and hopefully, SP steers it successfully for all involved!

GLA

Hi BoilB

As I’ve mentioned previously, 12.5p not for HNWI holders and I seem to recall they expire next year!

GLA

Morning HBD

We shall see! - thanks for sharing and have a good weekend!!

GLA

Think you will find the same one analyst has been forecasting £1.76 for at least the last two years, I even discussed such with SP at ‘23 AGM - think said analyst just presses “reset” button each month!

That said, interesting few weeks ahead and only 4 months to Christmas, hmmm, now there’s a thought!!

Enjoy your weekend.

GLA