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Sharebel,
We get it—you are desperate holding a huge amount of SYME shares. There is no short squeeze. The warrants alone issued with this placing would cover the SLS requirements at an even lower price, thanks to the pitiful placing price.
😂😂😂😂😂🤡🤡🤡🤡🤡🤡Sharebel
WiggyP
"The auditors would have required proof their fee would be paid and that sufficient funds were inbound before signing off the audit. This has really gone down to the wire!"
Not really you need evidence of 12 months trading revenues and cash flow to meet the going concern principle otherwise auditors who sign off false accounts face significant fines and criminal charges..
0.017 they got the shares for, it really is a slap in the face to shareholders and after all these years they are still struggling to keep the lights on. How long before shareholders get any value from Syme. I'm dissapointed.
Good luck anyway :))))))
'I have a huge holding here - that should tell you all you need to know.'
It certainly does!
They want stock - they will quote me for my entire holding in one go! I have a huge holding here - that should tell you all you need to know. The subscription stock is not available and will not be available on open market!This funding is a very positive thing as it means we are good to go on WL! IMHO DYOR
With the spoofing end of April RNS failing to generate the excitement, liquidity and volume required for a meaningful placing. AZ has done well to get this raise away at such a high price hence the background selling.
This totally ends the short squeeze ramp story and shows how SLS et al. would close out the position if required.
Now, if AZ were a real cunning fox, TAG would demand the return of the shares and then welch on the deal after the lenders have acquired the shares in the private placing.
The auditors would have required proof their fee would be paid and that sufficient funds were inbound before signing off the audit. This has really gone down to the wire!
The key message is that Banoco BPM and Neobank know that their supplier has secured funding, has a clean set of accounts, which have been thoroughly audited...all lining up the planets for a WL IM imminent roll out...
It's important to read these RNS's from multiple angles....Big banks wouldn't allow their names to be associated with either a scam or failing business in such a public manner through a RNS communication from a listed firm.
The short squeeze is the finding the SYME stock from SLS and HWCP that needs to be returned. Subscribers for the funding will not be letting go of these for peanuts. The IM WL news is on the near horizon any hour, any day now we have this funding done which will send the SP rocketing! IMHO DYOR
LTHs will be rewarded in 2023 and beyond
Albert something significant is happening, SYME Will lose its start up TAG In 2023
DW to rescue in July to build us a captive bank with the profits from trading this.
The level of manipulation with this share is off the chart
9 billion more shares on top of the already 63 billion and he's talking about a short squeeze coming. I don't think a "short squeeze" means what you think it means.
Not for Lth’s it won’t 🤦🏻♂️
The funding will ease short term cash challenges but with a £3.7 million equity deficit at year end even after this and £800,000 TAG debt for equity swap SYME remains technically insolvent even before last 4 and half months trading losses.
Perhaps this is why Hughes87 was so busy tweeting and ramping last few days.
TwoGood it is totally impossible to copy our unique IP fintech platform- any competitor would have to buy us! A new way of global inventory trade finance about to begin. One IM after the other! Very exciting indeed! It has been a long wait but will be worth it! IMHO DYOR
Price is terrible but at least they now have some cash for another 6 months , they now have a small window to get the IM's done, does show Tag could be in trouble though.
Looks like WL IM about to take off...given how hard it has been to get this far its a business model which isn't easy for any competitors just to walk in, copy the model, and enter the market place, its got high barriers to entry!
The entry into a binding subscription agreement with a UK investment firm for £1,552,500 of gross proceeds on behalf of its private clients (the "Subscription").
· The issue of 9,000,000,000 new ordinary shares of £0.00002 each (the "Subscription Shares") at a price of 0.01725 pence per Subscription Shares to raise gross proceeds of £1,552,500.
· Application will be made to the Financial Conduct Authority and to the London Stock Exchange for the Subscription Shares to be admitted to the standard segment of the Official List and to trading on the London Stock Exchange's main market for listed securities, respectively (the "Admission").
· The Admission is expected to occur at 8.00am on or around 28 May 2024.
· Following the issue of the Subscription Shares, the Company will issue 450,000,000 new warrants to the UK investment firm, the exercise price of the warrants is 0.01725 pence each, with the warrants being exercisable anytime up to 28 May 2029.
· Keith, Bayley, Rogers & Co. Limited acted as corporate broker to SYME in relation to the Subscription.
As previously announced on 1 May 2024 in connection with the Annual Report and Accounts for the year ended 31 December 2023 ("2023 Annual Report and Accounts"), the Company has been exploring alternative options for funding to allow it to meet its ongoing commitments and obligations. This New Equity Funding provides the Company with additional funding to that available under the Top-Up Shareholder Loan Agreement that was executed with The AvantGarde Group S.p.A ("TAG") on 28 September 2023, further details of which can be found in the 2023 Annual Report and Accounts.
The New Equity Funding is expected to be used by the Company and Group to satisfy its ongoing working capital requirements and to improve the Company's overall capitalisation as SYME seeks to deploy an increasing number of IM transactions, including, inter alia, from i) the IM programme with the Italian neo banking group announced by the Company on 29 April 2024; ii) the commitment achieved from an asset manager specialised in digital assets to subscribe the first tranche of on over-all security token issuance as announced by the Company on 5 April 2024; and iii) the Group's first White-Label IM agreement with Banco BPM S.p.A announced by the Company on 3 January 2024.
Alessandro Zamboni, CEO of SYME, said:
"I am excited to see such great interest on our company by Keith, Bayley, Rogers & Co. Limited and its investors. It is the first time that SYME engaged a broker to raise capital and it has demonstrated that, as recorded in 2023, London remains Europe's most active equity market with more capital raised than the other European exchanges for high-growth businesses.
I am sure that our inventory funders and partners will see this capital infusion as a positive step forward for SYME, considering its key role as inventory specialist within the current Inventory Monetisation prog
Mitch you’re a comedian THIS funding is the signal the GREEN LIGHT TO GO here FINALLY beginning with WL inventory monetisation completion. The ii will also know who subscribed that this was final jigsaw piece to begin and also marks independent funding away from TAG too. ££££ about to come in here to SYME. IMHO DYOR
A nice little update where they are now would have gone nice alongside this RNS.
Yeah and what happens in a few months "the charge" is settled FFS but AZ denied all along that the SP would not be dragged down due to charge ( see Q&A). No news before the charge 😂
Mister I think so spot on! We are good to launch, accounts verified , annual report signed off - the engines are revving up. This long scenic route to get here says we will shortly be arriving at our destination- the IP fintech block chain inventory monetisation platform SYME have spent years creating dealing with all the law and accounting issues too that a brand new global trade finance fintech machine has had to deal with, are done. We now begin raking in the many millions- first mover advantage and global trade finance disruptor is about to begin - FINALLY! IMHO DYOR
Interesting it's only a few months funding and not an entire year must be close to WL IM delivery..
So we are funded now as we move forwards into the completions of the IM programme beginning with WL. AZ clearly holding off to get this done so now should see heavy news rich period here! So all the complainants that we aren’t funded in the interim pre IM revenue beginning can jog on. I expect that the ii’s invested will be holding tight as the programme finally revs up. I will be buying more today! All the ducks in a row - MAY 24 is THE month! IMHO DYOR
Well it certainly isn't a whole years funding at £4m which surprisingly they didn't do but just enough to get them over the finishing line for WL IM deployment it's about 4 months cash and pegged at 0.0002p.
...just thinking out loud but could this be the 1.5m they need to chuck into the pot for the first WL with BBPM?