Sigmaroc Share Discussion Threads

[callumross] 26/2/2014 08:50

todays results show NAV of 2.2p but large increase in SLN since then. I note that PHC shooting up today too so at a rough stab current NAV could be around 2.8p? Will calculate in more depth later.

[callumross] 25/2/2014 23:22

Think your 3p NAV is optimistic baner. My back of envelope calculation is 2.3p

[johnsmith321] 25/2/2014 14:23

Hi banner,
Unfortunately as Mr Griffiths owns Silence, I think he will make Sarossa hold onto silence till phase3 results are released (4 years at least and all that risk ). I would prefer they sold (for a nice profit) their silence investment sooner rather than later.

Lets not forget about the 1M Caretech investment Sarossa has.

[baner] 25/2/2014 08:08

With Silence booming Sarossa's TNAV is approaching 3p. If they sell out of these there will be well north of 2p in cash. Very sound risk reward here at 1.5p.

[johnsmith321] 24/2/2014 21:00

Plant health care (PHC) will announce trading results on 24 March 2014.
The old board are now fully replaced (along with there very expensive fixed salaries). New board have low salaries and are paid in shares (the way I like it).

New management in place in new headquarters in Raleigh, North Carolina.
New Development and Commercial agreements with Arysta LifeScience and others.
Accelerated R&D to bring out third generation Harpin.

I think they have cut costs even more and we should see a big improvement in PHC results.

[callumross] 17/1/2014 23:27

Well, the company is definitely in the market to buy back their own stock as a buy order was put on the order book today for 10m shares at 1.35p. Their investment in Silence is now up £2m since the summer although on the downside their investment in Plant Health Care is currently down £1m over the same period. Still a further one million dollars in licensing fees to come in a few months. Happy to hold my meagre 500k shares at these levels!

[primachm00] 16/1/2014 03:25

up 100% today in nyc sarossa symbol aioaf, only 100k shares went from $0.01 to $0.02

[callumross] 09/1/2014 16:12

Looking at the volumes being traded today, it looks like the buyback is being instituted a day ahead of formal authority being granted at the AGM!

[callumross] 06/1/2014 16:42

See that the EGM to approve the proposed buyback is on Friday 10th January. Would expect buybacks to start shortly thereafter as it is a no brainer to buyback at this discount to net assets.

[callumross] 02/1/2014 13:57

Strongly rising price of SLN in last couple weeks will help. Their £4m investment last April is now worth £4.8m. Pity their investment in PHC hasn't worked out so well. Still, the NAV for the half year to 31st December should work out at around 2p per share with over 1p of this in net cash.

[primachm00] 28/12/2013 03:41

I am on right thread. I was wrong on price quotes. In USA Sarossa is traded OTC on the pinksheets. Bids are currently $0.0125, asked is $0.02. Your purchase at 1.22p is about $0.0075. I do this late at night so was a bit fuzzy

[callumross] 27/12/2013 10:55

Think you are on wrong thread,prima!

[primachm00] 27/12/2013 01:05

Presume you aware price in usa is $1.25 bid with no trades for last few days. My last purchase was at $1.50 about 1 week ago. Trading here very light othrwise wud be nice arbitrage opportunity since your purchase was at about $2.00. Pretty sure US price will go up to $2.00

[callumross] 23/12/2013 16:16

450k at 1.22p just bought on ISDX

[callumross] 20/12/2013 13:38

Agreed. I am going to keep topping up at these levels. They do get one more million dollar payout for their old drug licence in the current financial year and then that source of income stops. Currently NAV of 1.9p IMHO even with the PHC fall since they subscribed so large discount plus £7m in the bank plus of course the GVC options are currently in the money to the tune of over £300k which came at nil cost to them.

[primachm00] 20/12/2013 04:20

Noted from their website that Henderson Global now holder of approx 5% of issued shares.Obviously buyback at 1p will put a floor on pricing. All in all, looks intrsing for long term

[callumross] 13/12/2013 08:49

Looks like the board have recognised the substantial discount to net assets I alluded to in my earlier post and are attempting to narrow it:

"The Directors announce that the Sarossa is today posting to its shareholders a circular containing a notice convening a general meeting at which a resolution will be proposed to shareholders to authorise the Company to buy back up to 22,800,000 Ordinary Shares, such authority to expire on 30 June 2015, unless renewed prior to that time. "

[callumross] 11/12/2013 17:26

Just bought into this one for the first time for 250k at 1.3p. Wondering if anyone can give me some feedback on whether this looks a good investment long term. My calculation for buying being that I am buying around 2p of liquid assets including over 1p per share net cash for 1.3p i.e a discount of around a 1/3rd. Obviously much depends on what you believe the long term prospects of SLN and PHC to be.And PHC value has dropped by around 800k,I reckon since they reported to 30th June. However, SLN investment is up a touch to just over £4m and the GVC options which were out of the money in June are now worth over £300k. Are the tax losses and quote worth something as well? May buy some more, especially if PHC and SLN start rising strongly.

[dbharrison1] 05/12/2013 19:52

I have share certificates in Antisoma and expected to receive new certificates when the name changed to Sarossa. Calls to their phone and Emails to the Web Site go unanswered.

[picguru] 10/4/2000 13:38

EPIC is SRP

RNS extracted from:

===============
As a result of the Capitalisation Issue, the price of each Ordinary Share will
change to approximately one sixth of its present level when the existing
Ordinary Shares are quoted 'ex-capitalisation' (which is expected to be on 10
April 2000). This reflects the fact that each shareholder will own six times
as many Ordinary Shares as before. The result is that each shareholder will
have the same percentage interest in Serco as was held immediately before the
issue of the New Shares. The increase in the number of Ordinary Shares in
issue will necessitate pro rata adjustments to calculations of earnings per
share and dividends per share.
=============