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Bloody hell Hobby,
is that what you've been doing for a week?
Learning to read??? lol
Excellent post extrader - deserves to be bumped.
Apart from RNS everything else is pure speculation and should NOT be considered when making decisions. Dont fool yourselves.
not good to see so much selling again Today ,hoping next week .or future weeks might see sellers cleared, then hoping might see a move upwards .
Tomvisual and extrader talking to themselves trying to give it the subtle de ramp.
Cracks me up every time i see them write war and peace about literally nothing! :D
Yawwwwn
My bad ! 'A : See explanation in proactive interview 30 June " should read " 30 July"...
ATB
Hi tomvisual,
You had some Q's, amongst which :
Researching....
Why did 1AF2 need the "loans"?
A : See explanation in proactive interview 30 June : AZ says that potential funders had [belatedly /unexpectedly] added a 'first loss security' requirement ie needed cash margin. SYME itself couldn't provide, ' because that would make it financial services co, not fintech ie 'capital-lite'), so used funds raised by 1AF2 as arm's length indirect provider of cash collateral.
Rather begs the question as to why, if 'oven-ready' , he only learnt of this at this stage. And/or SYME has no liquidity.
How much were the "loans"?
A: We don't know. Based on s/p at the time collateral worth £5m tops, @ 60% lender normal LTV = £ 3m
How does 1AF2 pay back the Lenders?
A : We don't know. They have 2 + years to find the cash. IF SYME is paying dividends by then, there should be an income stream from the pledged shares alone....IF..We don't know if there's a 'Plan B'. Maybe there isn't.
I assume this would be by selling their other shares (23.91% less 19.2%) to pay the "Loans".
A : See above
When the loans are paid back are they done so in a staged manner to avoid the Lenders dumping stock in one return (of stock to 1AF2 ("the borrower")) hit 2 years plus down the line?
A : We don't know
This unwinding of positions would be a major impact to the share price for PI's.
A : Very likely...and there are plenty of folk who believe that the 3 x lenders may have already been trading (as we were specifically told they are allowed to)
How does 1AF2 manage this as it affects all holders!!
A : On the face of it, it can't. AZ doesn't appear to have considered this possibility (in which case he's not the financial whizz he's cracked up to be) or he IS aware and... for some reason that he hasn't shared, it doesn't matter to him. Some might say that that is arguably a breach of his 'duty of care' to shareholders.
AZ is a Director of 1AF2. Can he advise if the repayment of the loans will have a detrimental effect to share price!
A : Any share overhang is usually a price depressant
Is 1AF2 required to pay back the loans to get the shares returned to them for the "Lenders"?
A : 'by' not 'for' the Lenders. The 29/7 RNS says :.."1AF2 confirms that it INTENDS to repay the loans. The Loans may be drawn in a series of tranches over one month and Lenders may trade pledged shares to diversify their portfolio concentration risks. Upon repayment, all 5,893,824,429 SYME shares will be returned to the borrower..."
For tax declaration purposes (eg residency/domicile) at least, 'intention' is a recognised 'wiggle room' word, HMRC accepts that circumstances may change.
It's a bit odd to see it in an RNS on a loan, though : try that with your friendly bank manager on your next mortgage application !
Final thought : the 'security collateral' was raised during August, 3 months later we've await news abt the related deal(s).
ATB
0.40- 0.45p today?
They are writing up their new script
Autumn Edition
TW and friends to post seemingly sincere postings, include calculations to impress mere mortals. TW studied economics and politics at Oxford so he will be good at the calcs and writing the spin.
Get other members to post opposing views then shoot them down building further credibility. Then change views hoping mere mortals will cave in and sell shares for a loss, Hoover the shares up like cheap C***
Get other members with multi aliases to work 14 hours a day posting nonsense. Feed them on white lightening and pot Noodles.
Make AZ out to be a villain, do research from the Goonies, the Count of Monti Christo and Home Alone 4.
Those shares are loaned as collateral, so as the loans are being repaid, those loaned shares have to be given back and this will cause these companies to have to buy them back in the open market. This is my understanding and if so, take advantage and if investing, now might be the time to have a good look because the share price will have a force pushing them upwards imo
Tom, right there in front of you, the loans were secured by shares, will only be taken if the loans are not repaid, when loans repaid the shares are returned to the borrower..
I agree HCM. The fact that all the trolls and deramp crew have gone quiet speaks volumes. It can’t be that far away now
I agree Nikikiki - patients as well. It’s coming!.......
GLA LTH’s
I only wait for SH RNS and UK pilot RNS..
I am not interested in anything else
bye all
Tom, You missed the most relevant part; Upon repayment, all 5,893,824,429 SYME shares will be returned to the borrower.
Mick, from
RNS dated 29th July 2020 "Director/PDMR"
The shares have been transferred to secure loans (the "Loans") to 1AF2 ("the borrower"), with a minimum two-year duration.
Two years!
No doubt algorithmic modelling is trading the shares for the sole benefit of the "Lenders".
Questions,Questions, Questions
Mick perhaps.
But we also have a Q&A with the AZ!!
This givesvus a unique opportunity to get these issues answered for the benefit of all holders.
As I said lets collate a set of questions. Forensic or otherwise!
I recall on the first Q&A that Zak Mir leld with AZ, several of the questions (from BB discussion) were emailed by myself for Zak to ask!
Questions, Questions, Questions
Questions, Questions...
Researching....
Why did 1AF2 need the "loans"?
How much were the "loans"?
How does 1AF2 pay back the Lenders?
I assume this would be by selling their other shares (23.91% less 19.2%) to pay the "Loans".
When the loans are paid back are they done so in a staged manner to avoid the Lenders dumping stock in one return (of stock to 1AF2 ("the borrower")) hit 2 years plus down the line?
This unwinding of positions would be a major impact to the share price for PI's.
How does 1AF2 manage this as it affects all holders!!
AZ is a Director of 1AF2. Can he advise if the repayment of the loans will have a detrimental effect to share price!
Is 1AF2 required to pay back the loans to get the shares returned to them for the "Lenders"?
Questions, Questions, Questions
MHS, thanks!
LoL! That's what a BB is for!
Tomvisual are you any relation to Tom_knows of Twitter, who constantly deramps SYME?
In regards to your question, it’s all explained in RNS’s and interviews. You seem to have a lot of time to post messages on here, so maybe invest that time instead on doing some actual research!
Tom the explanation is on the RNs dated 29th of July "Director/PDMR"
Anyone able to answer Tom? I'm interested in the answer but don't know where to find it
Guys can we discuss the Loan Lenders?
Who they are and how they got to their position of privilege that was discussed earlier today??