Member Info for stevej

HBD

Very true, needs a very positive RNS wording, hopefully they have learnt 🤞

GLA

I keep thinking back to the comment a couple of years ago that we might not have another AGM, implying we could be sold.

This comment would of been on the back of the board knowing the first toxicity studies wouldn’t start until mid year ( May 25) and AGM in December ( 6 months), any head of terms needed to make an official offer to share with shareholders for a yes/no vote would take a couple of months, hence results of some kind would of been needed late September 25. ( 4 months from start of study)

Therefore, we would have this level in June, and if it looks promising then I would expect any interested party to start talks in June and potentially offer to share holders Iate August.

Probably wishful thinking or missing something, but looking forward to the next 3 months

First we need a RNS to say toxicity studies concluded successfully and initial data looks promising which should have a good impact on the share price (30-40p range) and then anticipation could take us to (50-70p) late July

Just my own thoughts and likely wrong but appreciate others thoughts

GLA

Scroll towards bottom and you will see below

NOTES TO THE UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2025

1. Basis of financial information and accounting policies

These interim financial statements are unaudited and do not constitute statutory financial statements within the meaning of Section 434 of the Companies Act 2006. The Annual Report and Accounts for the year ended 30 June 2025 has been delivered to the Registrar of Companies and is available from Sareum's web site, www.sareum.com. The report of the auditor on those accounts was not qualified and contained no statement under Section 498 of the Companies Act 2006.

The accounting policies adopted are consistent with those used for the financial statements for the year ended 30 June 2025, as described therein. As at the date of approving these interim financial statements, there are no new standards likely to materially affect the financial statements for the year ending 30 June 2026.

The Group made a loss after tax for the period of £1.7 million (year ended 30 June 2025: loss of £4.4 million), as it continued to progress its research and development activities. These activities, and the related expenditure, are in line with the budgets previously set and are funded by regular cash investments.

The Directors consider that the cash held at the period end, together with that projected to be received, will be sufficient for the Group to meet its forecast expenditure for at least one year from the date of approving the interim financial statements. If there is a shortfall, the Directors will implement the required cost savings to ensure that the cash resources last for this period of time. For these reasons, the interim financial statements have been prepared on a going concern basis.

Sixthavenue, thank you as mine was a copy and paste from the half year results issued in March. This is direct from the company and therefore should be trusted. If anyone doesn’t trust the bod then they shouldn’t be in this share.

https://www.lse.co.uk/rns/SAR/half-year-report-for-six-months-ended-31-dec-2025-i7zmt653laatmpg.html

GLA

From half year report issued in March 26

The Directors consider that the cash held at the period end, together with that projected to be received, will be sufficient for the Group to meet its forecast expenditure for at least one year from the date of approving the interim financial statements. If there is a shortfall, the Directors will implement the required cost savings to ensure that the cash resources last for this period of time. For these reasons, the interim financial statements have been prepared on a going concern basis.

I’m similar on holdings and a spreadsheet as does make it easier to understand totals and worth as we progress on the SP.

Personally I would prefer they took a bit of a hit on licensing 737 if it brought in £3-4m to allow 12 months cash flow and improve bargaining power. Would also like to see bod gives more updates and maybe new HNW deals so the share price is nearer a true value before a deal, personally think we should be at least £0.75-£1.00 now and they should be looking to get it nearer this and maybe a few buys themselves prior to tox studies finishing would have a great impact.

Great work HBD as that must of been a nightmare to get together 👏

That takes us to 150m shares plus directors at different levels, so save to say no more than Potnak 160m ( well calculated Potnak as well as I thought higher )

GLA

They don’t, said funded for toxicity, but they either do a deal with a license (737) or know that a buy out is likely or will need to fund raise. We all hope a deal is done soon but Potnak can be taken as a pessimist some days and positive another 🤣

Mine still isn’t working but could be iPhone security, who knows 🤣

Num4

I’m hoping this is the start of the anticipation for a deserved upward trend. 12 weeks in and potentially only needed 13-14 weeks but going for 16 is a plus to me.

Just need the Bod to maximise the opportunity and get some news out to give us a further rise, which in turn helps to maximise their bargaining with any parties looking to license or indeed a buy out of the business. They have made too many errors over the last few years and I’m hoping they have learnt from them and now do everything in their power to push all marketing opportunities as surely they have some news from the different element of our portfolio they could update on.

Really like to see us early 30’s before the 16 week toxicity program is upon us and no reason not to issue out an RNS to say they have finished successfully the 16 week study and now await the review into the data over the coming weeks.

A few director buys or HNW buys would also help with further confidence to the share holders.

Either way I’m relaxed and still have some ISA allowance left to add more to mines and wife’s ISA’s over the next few weeks.

GLA and thank you to all for the continued research as it really feels like this is our time now and this year

My buy gone through for 95,992 shares, will it show shortly 🤣

Thanks HBD

Agree on your thoughts for 737 but hopefully not tomorrow as I have my order in @21p and would like to have before any news

Utah

Agree, as a minimum I see doubling this year on the back of good toxicity and maybe other news, hence have a good holding in my isa, as does the wife now and also moved some funds in my SIPP into SAR and will be buying more next week ( SIPP is purely for the gains I expect this year and then moved back to less risky shares )

Completely relaxed and still believe in a takeover within the the next 6-18 months.

Just my own personal feeling

GLA

Good point Potnak

AI says

o support Phase 2 clinical trials, which typically involve longer treatment durations and more patients than Phase 1, mandatory repeated-dose toxicity testing must generally cover a minimum of 4 weeks to 3 months (90 days), depending on the anticipated duration of the human trial.

What are the single digit buys over the last few days, commission is more than the value?

Thanks HBD

Appreciate the explanation as makes sense, keep up the good research 👏

Hi HBD

My take is one is 2021 and the other 2026 and therefore not sure where you get the extension on both from?

Probably me missing something

PCS1954

Have a great break in Italy with the family

Steve

SOG, 100% in agreement with you. It all makes sense, just need a sensible offer which might make a second potential buyer react. I’ve never felt so exited in this share than now and just await a RNS. Surely not too much to ask for after all of our years and don’t rule outs Thoths value with exceptional news and the bod showing some excitement

GLA and good to see you back as your knowledge and expertise has added massive knowledge to us all 👏

Celtic

I think a outright bid for the whole business as it was only put back last year due to having to cancel tox studies and therefore hopeful they will review once results are known and probably shown data first under a nda

Just my thoughts