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Hi Weathergeek,
With respect, any company that can turn ‘ the bank has first refusal right’ in an RNS to a ‘captive bank ‘ , obligated to fund, within 24 hours is unlikely to be - IMO - too concerned about the fine print In the ‘rules’...
ATB
I might be wrong... But I cannot help thinking this is somehow connected with Monday RNS and new bank...
You meant 'isn't going well for him'?
Sticking to just facts. All we can go on, is he sold shares early and he was under directors code re share dealing.
Taken from an article on the code..
These rules can be broken only where the person wanting to deal does not in fact have any inside information and can show they are in severe financial difficulty or there are other exceptional circumstances (such as a legal requirement to sell). In that case, the FSA has to be consulted before permission is given.
Requests for clearance and the consent or refusal should be in writing, and records should always be kept. Having been given clearance, you should deal as soon as possible and, in any event, within two business days. Miss that time limit, and you have to re-apply.
1.FSA had to approve it.
2. Can be because of .. severe financial difficulty or there are other exceptional circumstances (such as a legal requirement to sell).
So the only facts are, severe financial difficulty or other exceptional circumstances. Speculate all we want, to me, that sounds like it was not DW's plan to sell now. Something is going well for him. Be it finance, health or a legal requirement to sell what ever that may be.
Thank you kind Sir!
Alfie boy...calm down, they say where there is shte there is money.
Bring on the shte....make me rich.
•¿•
JTFM ,you talk a load of shte ,you write a load of shte, but at least you have a sence of humour and sometimes you make me laugh.
I think it was apunter2 who stole the bog roll to write down all his 'facts' on individual sheets and then stick them to the wall of his man cave, trying to devise a plan to work out and then justify syme's spiders web.
I am actually constipated on purpose cause some turd bought the last of the bog roll!
I have held this since .2 , we have had lots of RNS week in and out , 1 spike and now back down and staying down so far. Problem is while the management seems good , great business model and idea , they have not had profit and won’t for some time thus sp will stay around this for a while ! Long term could be amazing , could be so I am wondering am I too impatient to keep ?
Who ever said wit was dead was clearly right.
Just the facts man, then we will just have to agree to disagree and that’s fine,
All I do is join the dots from one RNS to previous RNS’s.
I am not here to convince people, but I have used experience along the way.
You can disagree with that and that’s fine
But as ever since you used no links or research ever including that post, then you can shove your opinion,
As your like me are just on a ****ing message board hahah
But I see you use the age old tactic, if you can’t argue the message attack the poster.
So in age old fashion, you contribute zero facts,
Just all air
Sooooooo
Filtered ..
I know you post from facts, and you are one of the 3 i was referring who is excellent on that front, but man, your conclusions and how you use them to verify the 'eventual' conclusions sucks.
I often research and find similar things, sometimes learning from yours, but i am not into the kind of replies that are more trying to sway people. I am focused on whether it smells good or bad based on what i am reading from AZ, the RNS (as best as i can understand them, with help from you there i am happy to add) and how events are unfolding in relation to AZ having to continually clairfy RNS after RNS. As we all should be, i am focused on my investment. I think i have chosen right but it is not yet clear. I should also add that i have done a deep dive into the names of the companies, the names of these people listed as being involved in SYME, the lack of information for people with long careers, etc, etc, and if i decided i had the energy to write a news like article on that, i think people really would be running for the hills. However, some things are best left not put on this forum. And now i can hear you, well show us the evidence...i am sure you have also researched the same people and i imagine you have found very little based on anything independent of the people who seem to have created Linkedin posts for themselves. To you that might not seem odd, to me, i would prefer more info. I dont need to post links for those, anyone can find them by putting the names into google.
Just for facts man, I posted from facts, from a law firm’s web page, I copied and pasted from the very article
If you would prefer I use the FCA handbook then you use it too.
But Noted your complete lack of resource material in any of your posts,
Why don’t you back up your ****e with a link or two
There are some people on this forum who do some excellent research, finding and stating what things say (many of whom like to have a go as they say), who draw some of the cr@pest conclusions i have read on this forum. Its an odd mix when you have so much info too hand and then round it all off by concluding something quite odd!
@weathergeek, are you serious, man? Its either some odd intention to appear woke or CEO potential problem sympathiser syndrome thats broken out here. There is nothing in your or apunter2 or the other odd sympathisers that suggests a guy you dont know, and have no way of knowing his current personal position, is having personal issues other than some odd regulation saying its ok for him to sell his shares. Stop acting weird and focus more on on whether your investment is safe!
Who are you?
Upon further research, check my last posts. It looks like the sale is for personal reasons as directors have. Some have been transferred and some sold. The Bank buy is 100% amazing news for SYME. My wishes go out to DW, Never easy having personal problems that cause you to do things not in your plan.
I don't post here often but read a fair bit, mostly SYME related & i always seek out your posts WG.
Many thanks for your clear, concise, sane, posts on SYME.
Lets just be clear what's happened here in simple English.
SYME's largest shareholders, The Avante Gaurde Group, The Orchestra Group, 1AF2 and the institutions they have been working with have agreed to buy a bank to support SYME.
The Director DW I would say was quite influential in helping this deal and was just rewarded a payment giving him back his £1.5m he out in the other week.
The benefit to SYME shareholders of this transaction.
1. No fund raise to SYME shareholders
2. No dilution via issuing more shares
3. No debt on balance sheet to buy bank
4. SYME shareholders are buying a bank via other vehicles and SYME get the benefits.
5. All SYME business will be able to run through this bank, reducing overheads, simplifying due diligence and control.