Member Info for shepster

What is the view on the takeover now everyone, do you think it is now over and done with or do you still think there is a chance that it might happen, would welcome people's thoughts?

First retreat for a while with the share price, has it reached its upper level without any more takeover news

Thanks donald, he of course will be milking this again

GLA to all for a good update and progress report

I agree that share options are a good way to incentivise performance as the share price dictates what they actually make as a result, i am on about £30k payments in cash to 2 of the board members, in 2025 this could have been up to 50% of their salary!, i am not sure what they have done to warrant that amount of a cash bonus that is over and above what should be the day job, perhaps you can enlighten me?

I dont know about the first big hurdle, what about consolidation, trial work in Australia instead of the UK, Riverfort fiasco, board changes without a succession plan and still all on massive salaries, bonus payments for doing the day job and not performance related, I guess we will have to agree to disagree. GLA it is going to be a bumpy ride i feel.

One thing i would ask is that either sareum or the host company test the audio equipment first so we can at least hear what they are going to say, not too much to ask this time i would hope

Thanks Donald, wish someone could sort him out

Dismal at the moment with this share, chairman's monthly statement spent more time looking at what other companies are doing, share price continues to fall yet the faithful keep spouting on about takeovers for other companies and what we could have won, as yet nothing and no real sign of it in the near future, GSK actually gave back 737 when they owned it so not sure what they would see differently now to take us over??

Well said Brizzle Paul, glad i am not the only one who feels this way.

The other issue is that the patents of all of these are slipping back another year as well, no one will want to pay a lot for a molecule with a very short patent life, it does not make sense fiscally, that is what angers me about the remuneration packages, the end goal has always been to on license at the earliest opportunity, yet we don't appear to be getting any closer to this even now

Very underwhelming RNS, i am not surprised that the market has not taken this well. I guess this will trigger a bonus payment for the board though for achieving something that should be in the job description. I am not sure what is happening to 737, where is the on licensing that everyone was saying was a shoe in and clever work from SP for getting it back??

Another year of salaries and pensions for the team rolls on, what is TM actually doing, no-one seems to be aware as far as i can tell, still drawing a salary though. Will have to stick this out as underwater, very frustrating.

Still no meaningful information from the BOD or any investor relations following the promises made at the AGM, nothing has changed again going into this year, following a very poor 2025 it would have been nice to have seen a concerted effort to communicate with us and the market in an improved manner. It would really surprise me if 737 does get any attention now, after all of these years of no takers and even GSK giving it back it cant be a good sign. Come on guys, what are you doing all of the time?

I would like to say i know have been very negative in my comments re the BOD of late, i am not going to apologise for this as it is my view and after investing a large chunk of my hard earned money i feel i have the right to challenge. If people choose to agree or disagree then that is their right and prerogative and i appreciate that as well. The same as i will respect other points of view as and when they are expressed.

I would like thank whoever voiced similar concerns that i have at the AGM as otherwise nothing would have been offered by the board in terms of answers to our concerns.

I feel the BOD of late have not done themselves any favours in terms of communication and lack of updates. They almost came across as angry that they were being questioned today about specific things like bonus payments, and to then call an end to the meeting without answering online questions was a bad call i felt. This is the annual opportunity to build shareholder confidence and that was not they way to do it.

I understood the bonus situation answer to be that it is to keep pace with salary and bonus payments in the sector, others are paying it so we should as well. In my time in Pharma companies you got bonused on results, that are demonstrably over above what you are contracted to do. The clinical trial was the main answer and the fact that it had been completed in Australia merited a bonus payment in that year. My view would be that the clinical trial is what i would expect you to be working on in a drug development company, if that led to an on licence or major investment as a result then that certainly would justify a bonus payment.

I realise that the BOD want success for the company as much as we do, that is a given. But patent lives are running out and there doesn't appear to be much traction with shareholder value generation at this stage with the share price being its lowest point for some considerable time.

The AGM didn't feel as though they cared, sound quality was very poor, no video feed to see what is going on and who said what, surely you would bench test that sort of basic thing before going ahead with the meeting. That puts people's backs up even before it had got going. That may well not be their fault but it is their meeting so they should have ensured it had been done.

I really do still believe in the science otherwise i would have gone a long time ago. Please try and improve communication and involvement would be my ask. You cannot adopt the principle that we should keep quiet in all cases in case it is bad news, that doesn't feel correct at all and won't attract investment based on that model.

Rant over and i wish all holders a very good xmas and good luck in 2026.

GLA

Thank you to whoever asked the probing questions re value and remuneration, well done, i think it is very sad and as someone else has said almost cowardly to call the meeting to an end without answering any online questions, very unprofessional.

What a joke

Exactly how it feels to me as well, we have heard all of this before and feel the honest discussion around some of the points raised by shareholders would be much more beneficial

Why is the sound quality so poor every year, its embarassing, also why have they stopped showing the video of the meeting?

As i don't think that the BOD will want to cover the issue of bonus payments from questions submitted on line as it is easy to sidestep, could i ask one of the shareholders attending the meeting to raise it in the open forum at the start as i am staggered if they have paid themselves that amount of bonus on top of a large salary with no real quantifiable achievements, it would be good to hear from them why they have deserved this?

Thank you

Am not going to make the AGM tomorrow as i cant justify the cost of the rail fare based on how i think the meeting will go, they usually last less tyhan the hour and then they dont answer any meaningful questions and leave ASAP. I have put forward the following questions, which i dont thisnk will be answered:

Question 1

Can the Board please inform me if any of them have taken bonus payment over and above their salary payments at all in the last three years, if yes, can they inform me the amounts, and also events or milestones that triggered the bonus payment?

Question 2

For the last 2 or 3 years the Board have been criticised for a lack of communication to shareholders, each year they have promised to improve communication and feedback to shareholders, can the board please explain how they feel they are doing against this parameter currently?

Question 3

Could the Board please update the meeting on when they feel there will be any tangible shareholder value achieved by the company as patent protection is fast running out and progress at the moment seems extremely slow and not translating into returns for investors?

Question 4

Why does the board keep altering its core focus from one project to another as this seems to be diluting any outcomes actually being achieved?

good luck to all of the holders that do attend the meeting