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.."ex you know fine well those shares are held by the 3 lenders until or before next june..."
Keep up, mick !
The shares weren't originally returnable until the loans had been repaid , which wouldn't be before July 2022.
This changed to : the loans could be repaid any time.
Which then changed to : if the loans were repaid any time, not only do the shares not have to be returned, 1AF2 > TAG will accept cash......and the original RNS helpfully - and unusually - sets out the 'cash equivalent'.....0.075 to 0.09p...
AZ has apparently said that 'the hedges [ the supposed reason for allowing the lenders to trade the shares] are completed',
whatever that means.
You're right about one thing , though : the 5,800,000,000 shares don't belong to SYME, what seems pretty obvious is that they don't now belong to AZ either.
The easiest way of establishing the facts - or proving me wrong, which I'm sure would please a lot of people - would be to ask him.
Which is where we started.
Over to you.
Mick2
Facts don't matter, it's what scum like the ever present ex can spin and twist, to make it sound clever.. 'in inverted commas' to add a pretentious twist! lol
ATB
Well said mick2.
I just hope it stays here till end of the month so I can double up to 10million shares.
Too many red flags being waved atm. Disappointed with Alessandro tbh !! Still, live and learn !!!
.."The SP fell to what 0.048p (ish) last August and had that meteoric rise to 0.8p that same month and its been a volatile journey since off the back of promises and half truths.."
That rise coincided with the 'availability' of 5.8 billion tradeable shares (thanks to 1AF2's loans for pledged shares deal) and some helpful newsflow :
SYME 's share price rose significantly during the one month drawdown period (late July to late August) , on the back of
- bullish trading update 27th July;
- M East MoU announced 10th Aug;
- AZ/OG acquiring ('direct transfer to custody account') a 4.98% shareholding from Ceresio SIM (18th Aug);
- DW's 'long term purchase' of 220 million shares (21 Aug) that he unwound with a sale of 295 million shares - needed to cover [entirely foreseen/foreseeable] 'listing costs' - a bare 5 weeks later, on 25th Sept.
-AZ/OG acquisition of 660m shares ('direct transfer to custody account') 28 Aug.
after which , the s/p has gone sideways/downhill pretty much ever since.
And yet nobody has the cojones to ask AZ (a) what he was thinking of when he agreed that 'sweetheart deal' (for the lenders) or (b) wearing his 1AF2/TAG hat, where those 5,800,000, 000 shares are now.
'If you have to ask, there's a fair chance you're not going to like the answer'.
IMO
Only a fool tries to catch a falling knife! No one can possibly know where the bottom is - even the best trading experts NEVER attempt to time the market. Syme's market cap is completely out of whack with its value. The SP fell to what 0.048p (ish) last August and had that meteoric rise to 0.8p that same month and its been a volatile journey since off the back of promises and half truths. As Ive said before the concept has much merit and I will invest again (having been in before and exited) once the SP is in line with the value of the delivery record - even as a start up with all of the potential for growth. In Syme right now the sentiment is baffling not growing due to the fact that promises only last so long and then they have to be backed up by fundamentals and facts. They may come with the next set of published accounts or properly produced trading statements - that will be down to how genuinely good (or bad) the new CFO is. Its her first time as a CFO so at this level she is an unknown quantity. This has a lot further to fall IMO DYOR
I sold a few million yesterday as they weren't in my ISA. Right now I'm hoping it drops a tiny bit more, might even benefit for a change.
Rush it through and it ends up like Greensill, get all underpinning processes in place and make sure everything is ready before we launch, it all takes time, as for the jam tomorrow brigade - at least they acknowledge there will be jam - in skip loads. GLA LTH
Director has too much skin in game, he will want this up and running just as much as us. IMO I Believe in this concept especially over multiple regions even if this just gets started in Italy huge profits to be made.
Just takes time like any start up!
That’s the conundrum now though isn’t it , when do stop throwing good money after bad !!
Averaging down at these prices.
Not gonna drop lower than here. Otherwise would of happened on the panic drop on RNS. Great price to get in and make some money.