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Tricky125… yep !.. not sure how they are going to answer the judgement ! Their team obviously put across their evidence and it hasn’t been accepted… all gone very quiet on the Western front !
I wonder when the management will make a comment. no doubt they are thinking how to gloss over this .
I always wondered why the SP dropped quite so low between the hearing and the judgement and I suspect this result has been know for sometime in certain circles. My guess the SP will settle back around 4p pre 18th Jan RNS level reflecting valuation of SYM having lost court case. Always someone more in the know than you is my lesson!!
This judgement puts quite a dampener on Sym’s biodegradable plastic technology and it may be better to concentrate on the anti- bacterial side of the business which appears to work ! Can’t see what is going to boost the sp in the short to medium term. Will not be averaging down for the foreseeable.. gl all
Interesting to see how this judgement will effect current contracts and indeed future contracts
Disappointing but fairly unsurprising judgement.. I'm more surprised by the extent of the s/p fall off the back.. and I agree with ctw that this represents a meaningful overreaction.. and I've started topping up at 3.5p
Hardly a surprise. But look at their logic as shown in the abstract of the judgment:
In dismissing one point they say:
“According to the scientific studies available when the directive was adopted, the level of biodegradation of that plastic is low to non-existent in an open environment, in landfill or in the marine environment.”
In dismissing another point they say:
“The more rapid fragmentation of plastic containing a pro-oxidant additive can have an increased negative impact on the environment since its biodegradation is concentrated over a shorter period.”
The fact that the EJC has declined to declare that the relevant Regulation was unlawful does not mean that Sym can’t sell its product. Firstly they have advice that the Regulation did not apply to their product anyway. Be interesting to see the full judgement and analysis on that aspect. Second, most of their D2W sales are outside Europe anyway and are unlikely to be affected imo. This is very far from the end of SYM lol.
Usual AIM over reaction. Bought more at 3.37 showing as a sell.
Jeez!! They are still worth more than 6p regardless, will hang on now, thanks for info guys
Can not find the announcement but the shares are dropping fast
Already out , 9.30 European time , 8.30 UK
30mins from the verdict after 4 years of waiting!! I'm confident!
And even cheaper if the judgement goes against SYM. Do not trust the ECJ after Dysons case.
Quite a bit of selling today…chunky blocks.
Big news tomorrow, been waiting years, now here it is! Can't believe these are still so cheap.
Building prior to Wednesdays news. Let’s hope it’s decisive…..
Two trades and up 10%…
Not confident on the compensation side of things but would be happy to get access to new markets. Bring on the 31st…
I think we'll find the EU sticks to it's pattern of not admitting it got anything wrong.
Details of Dyson case available on the internet, but reasons for rejection of Dysons appeal not clear.
BRUSSELS (Reuters) - The EU's highest court dismissed an appeal made by Britain's bagless vacuum cleaner maker Dyson on Thursday for 176 million euros ($193.39 million) compensation from the European Commission for alleged losses due to EU energy labelling rules.
Dyson had challenged rules introduced by the EU executive in 2014, saying labelling requirements on vacuum cleaners discriminated against its technology, misled customers about the efficiency of some vacuum cleaners, and unfairly benefited its German rivals.
"The Court of Justice rejects all the arguments put forward by Dyson and thus upholds the judgment of the General Court. Consequently, the action for compensation brought by Dyson is dismissed definitively," the court said in its judgment.
Dyson had won the backing of the Luxembourg-based General Court in 2018, which scrapped the labelling rules, but the same court dismissed Dyson's case for compensation for losses allegedly incurred because of the rules.
A spokesperson for Dyson said the company "made history when it won its case in 2018" and that fact "makes today's judgment on damages all the more perverse".