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This chatter about limit orders seems to have some substance to it. Just been speaking to my broker who - without prompting - when I asked about liquidity in Sareum said, and I quote, it's suddenly harder to borrow this stock. When I asked if it was holders placing limit orders, he said it could very well be the case. Hadn't thought about it until Thoth2 or someone mentioned a few weeks back. S
Last week I posited "What do people think the price will close at next Friday?". I must admit to being surprised at the strength of the price increase this past week.
Given that this week sees the "deadline" for news on the Covid-19 grant, I ask again, where will Sareum close at the end of this coming week? S
would net Mitchell and Reader approx £5.367mn before tax with holdings and paid up share options. And the idea that we can tell a 2 man team to reject it and carry on is bizarre. They hold all the cards. It's called key person risk.
Well, Ahfam he has participated in most of the placings since about 2012. As far as I am aware he still holds in excess of 50mn shares. His view has been that the end game is a take out of the company at above about 4p/share to give TM and JR their clean out too perhaps retaining some consultancy capacity with the acquirer. S
Trades for some days have in the majority been small sells (£500-£3k) yet unusually for Sareum the bid is holding firm. This could indicate someone just holding a bid building a stake and mopping up the weak longs. Interesting. S
Personally I'd prefer the company to be taken out. It removes the temptation to sell out too soon. Sareum has quite a bit of old stale long baggage from those that bought in Feb 2011 and they will act as a drag on the way up. I'd settle with an offer for 4-6p and see anything above as a bonus.
I think the more relaxed and confident demeanour that some have noted about Tim in recent interviews reflects a rare phenomenon in the life of Sareum which is that the company is relatively well funded. We have the quite decent prospect of some near term incoming funds (Covid grant and Aurora milestones) in the coming quarter and the 2 TYK/JAK compounds coming close to points where they might be sellable or licensable assets (Q420/Q121). This give the company a strengthened hand with interested pharmas to extract a higher price. Having been invested in Sareum since 2005, I've rarely felt more optimistic and comfortable holding. S