Member Info for Woodlands

Time will tell on that front. Given that they arranged the investor meet and asked for feedback it would seem courteous of them to at least acknowledge my email, although given that no one has ever answered the phone at Pampisford maybe comms isn't their forte. Who knows maybe they are having a chat over a sandwich discussing if lumping £10k in each would be enough to bolster support in the share price and provide confidence for the future.

I was pleased to hear that 1801 itself was not to blame and I continue to hold all of my shares, a relatively modest amount comparted to some but significant for me. I did send an email to ir@sareum.co.uk as below. I will let you know if I hear back from them.

Good morning

Following yesterday's investor meeting / presentation we were asked to provide feedback, whish I did as below. I'm mindful that this format didn't give the Board an opportunity to reply, hence I thought I would email via the IR address and ask if someone could please respond accordingly?

Given that the share price is down a further 9% as I type this message at 15p I fear my concerns were well founded and the presentation has done little to support the share price and in fact provided people with a reason to sell up and move on.

Positive to hear that 1801 wasn't the issue, the understandably vague answer RE what was to blame won't help to inspire confidence. There is and has been for some time a feeling of "jam tomorrow", whilst the halting of the tox study was presumably beyond your control it is within your gift to purchase shares on the open market as many of the shareholders including myself did to essentially bail the company and you guys out on the back of the RF fiasco, which was entirely within your control. Confirming that ASAP actually means next year will almost certainly see people selling some or all of their shares as we aren't expecting any news anytime soon, so I would encourage you all to demonstrate to the market the confidence you have in the company and it's commercial future by announcing that you have all decided to put your hand in your pocket to buy additional shares in Sareum. I look forward to meeting you at the AGM.

I look forward to hearing from you

**Maybe if we haven't heard by the 23rd we should ask how long ASAP will be?

RNS 10.10.25 "The Company is also in discussions with alternative providers with the aim of restarting the study as soon as possible. Despite this set back, the Company anticipates being able to complete the full toxicology study, as originally scoped, with its existing cash resources." Maybe if we haven't we should ask how long ASAP will be? I took that as meaning without any significant delay and I also liked the fact that they have stated the tox study will be completed as originally scoped and with existing cash resources (granted that could include warrants).

Hi Aber the RNS stated; "The safety issues were encountered at a higher incidence in the control-group animals which were given an inactive dosing solution compared to those that were actually dosed with SDC-1801." Poorly worded perhaps but I interpreted this as meaning that the safety issues were higher in the placebo group than the 1801 group therefore there were some safety issues in the 1801 group albeit unrelated to 1801. Or if you were being an optimist maybe less safety issues because they were in receipt of 1801. Let's see what is said on the 23rd and then wait until Easter. I was hoping for news this year but after 10+ years another 6 months is okay, so long as we get a positive outcome. The science hasn't changed if you were confident 2 weeks ago then there is more reason to be confident today as no issues have been reported relating to 1801.

I thonk holding 25p has been significant. Less than 6 months ago people were topping up at 12.5p We all like round numbers so I can understand why they might sell half of their top up at 25p. Hopefully that has cleared and 25p can be the new base. Having been here for many years I'm holding and waiting for news, which should arrive in the next few weeks.

A fair point potnak. Only from memory and with some rough maths in Aug 21 the sp peaked at 9p = £4.50 in new money we had approx 3.3billion shares in issue = to 67.3million now, giving a market cap of c£300,000,000 We now have approx 135,410,000 shares in issue so to achieve the same market cap the sp would need to sit at £2.20. Having had the opportunity to top up at 12p in more recent times I suspect many LTHs hold far more shares than they did in 2021 even taking into account the 100% dilution so it will be interesting to see what happens should we get to even a quarter or a third of the all time high sp.

Hi BB1, I'm no expert but I'm curious to know why you are certain that PIs hold less than 50%? I understand that the BOD have raised funds, which has resulted in a significantly increased number of shares in circulation but my understanding is that many of those involved in raising the funds will have sold some if not all of the shares issued to them and again my assumption is that many of those will have been bought by PIs. 4eg. do you think Riverfort still hold any of their allocation and if not who does? In the last 12 months (okay 53 weeks or so) the share price has twice been at or around 12p and I know many LTHs will have taken the opportunity to add to their holding, either to maintain the same proportionate number of shares, or to increase it at such low levels. I think we could be in for an interesting 3-6 months here.

Hi Bailiff, I was struggling to buy even quite modest amounts through Barclays at lunch time, I guess not many people are keen to sell at 13p.

Hi Bailiff, did you have any joy placing your order?

So are you saying that they did pay money for the increased stake in 737 and that they have lied in today's presentation?

Thought I'd share the feedback I left on the Investor Meet Company form after the presentation;

A lot of us have been invested for 10+ years and understand that this is a long and slow process. Whilst I appreciate you guys are scientists and not snake charmers I do think you need to understand that the market doesn't like; uncertainty and delay and investors don't like being treated like mushrooms. More regular and dare I say more positive comms would be appreciated. Did I hear today that you had to bat off enquiries RE 737 whilst the mysterious septics had it? And did I hear that you didn't have to pay any money whatsoever to drastically increase your commercial % of 737? Why for the love of JC weren't either of these things mentioned in the RNS? We have now increased our commercial share in 737 from 27.5% to 63.5% and it cost us £Sweet FA oh and BTW we already have a queue of people interested in a licence deal. Also mentioned today confirmation that we are talking to interested parties RE 1801, again this might be worth mentioning in a public statement as opposed to please guys fingers crossed for another couple of years hopefully we don't run out of cash and go bust. Surely you can see that a difference in tone would have a positive impact on the share price?!

Aside from the obligatory IT hiccup that all sounded very positive and reassuring. I can't imagine that anyone who listened to that will be thinking about selling any shares. In fact they might decide to top up while we are this lower level.

If you listen to the Final Results presentation from 11/10/23 in the Q&A about 47 minutes in Tim says Plan A and probably Plan B is to complete the phase 1b study and then look for a licence partner.

"The Board currently intends to seek to appoint a new CEO" Okay this might just be me being pedantic but to my mind there is no need to include the word currently in this sentence from this morning's RNS unless of course you have reason to believe that things might change meaning that you no longer need to appoint a new CEO.

This us what the BID said; The multiple ascending dose (MAD) study of SDC-1801 is ongoing and topline data from the Phase 1a clinical trial are expected to be available during Q2 2024.

My understanding was that the data is now with ANZCTR. If that is the case I guess Sareum have met their expected timeline. I imagine what the relevant authority do or how long it takes them to report is beyond the control of the Sareum BOD.

Interesting that they are happy to share on their Twitter feed, no least because TM is the type of person who makes Gareth Southgate look care free and reckless.

Apologies I fell into their trap but I hoped my Winky face might help people realise the message was BS.

If you listen to the Final Results presentation from 11/10/23 in the Q&A about 47 minutes in Tim says Plan A and probably Plan B is to complete the phase 1b study and then look for a licence partner.

Maybe they put £20,000 in at 10.5p, they are now happy to sell at 107,962 shares for £41,000 and double their money, leaving them with 82,500 free shares and £20,000 profit in the bank.