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Much is being made of this from the RNS, with confusion as to whether the named companies (Carrefour etc) are indeed the clients of SYME...
RNS "This portfolio comprises corporates of various sizes which form part of supply chains led by the following companies..."
AZ was pressed on this matter via Twitter ..
Dear @Alessan62698938
you do know Carrefour pay their suppliers AFTER they've sold goods? They have a negative working capital position. Why would they need #SYME services? I hope this wasn't an error in the update today?
It's also inconceivable to me that Carrefour would use a tiny operation like #SYME / Avantgarde when they have strong relationships with Tier 1 banks and access to very competitive finance.'
& was quick to respond...
'Dear Tim, these kind of players could support their suppliers using the inventory monetisation service across the end to end supply chain'
That may be true lokiloo, although its just more words that kind of make some kind of basic sense in a given circumstance....but it isnt evidence of anything. The point is AZ has used the names of large companies he doesnt have a relationship with to convince us his idea is legit today in an RNS. Why you would believe anything someone says to try and right a confusion he has deliberately created to try and jack up his share price. And on the back of some rather confusing recent share activity i should also add. Once bitten and all that, best to be a little sceptical.
'The point is AZ has used the names of large companies he doesnt have a relationship with ..'
How do you know SYME do not have a 'relationship' with those companies named?
Lokiloo,
Maybe he shops with them when visits home but this kind of helps: "This portfolio comprises corporates of various sizes WHICH FORM PART OF supply chains led by the following companies."
Very new and rarely post. Don’t understand all this yet. However, have a question. So there has been some conversation today about companies mentioned in the RNS from today paying their supply chain after they have sold goods. Isn’t this the exact point. If SYME is supporting that supply chain - not the company itself - they are offering working capital to companies waiting on payment up the supply chain. If I were a company with inventory waiting on sale and the chance to employ working capital to exploit and expand without furthering my debt I might just do it. If I were up the supply chain I might not like this as it empowers suppliers to do more than agree to contract of payment on sale.
P.s very happy to be educated on this point.
Reposted from below as didn’t get an answer on my own thread!
2 Italian banks self funding agreements due end of September and could be update about Finlombarda news as well. UK pilot and Middle East also due my bet these two next week. All info in RNS dated 10th September. Bring it on! BOOM incoming!!!
Just out of interest calamari what is your exit point, its obvious what your position is and what we post on this BB wont affect the share price so you may as well be honest. I,m holding long term and looking at an initial exit point at 2.5p to take out my initial stake and leave the rest as a free ride so to speak.
Calamari
If he had answered 'Yes Carrefour are a client of ours' he wouldn't have been answering the question posed.
I suggest you re-read.
Justthefactsmam
"This portfolio comprises corporates of various sizes WHICH FORM PART OF supply chains led by the following companies."
By 'led' i presumed the list of companies that then followed were the BIGGEST names of the clients involved. Not the names of the largest members of a supply chain. The Tweet then verified the fact IMO.
If memory serves me correct SYME have stipulated they only work with companies of a certain size?
Absolutely
You must all work for the same company... hope they pay well??? LOL
I don't know where the 'Absolutely' at the end of my post came from, but i hadnt meant it to be there. Don't read anything into it or this BTW...
Don't worry won't read anything into what you lot write! ;) (apart from the blatantly obvious!)
Calamari..
Because it isn't up to SYME to dictate what Carrefour do with the money raised, perhaps?
Good idea lads.. just keep talking to each other with you scripted responses LOL
Calamari..
I honestly think you guys are making something out of nothing.
SYME wouldn't have run off a list of tiny companies nobody would have heard of here for many reasons. People would no doubt have picked holes in that if they did. What SYME i have done is listed the LEADING names (led?) and yet still you're trying to pick holes in it from what i can make out.
Ok i give up Calamari. You're welcome to your opinion on what the wording meant.
Seemed pretty obvious to me but hey ho...
OK sorry....... I have realised ..you lot is just one person..
A schizophrenic talking to himself .. LOL LOL LOL
Lokiloo,
You may indeed be correct, the led is important. It reads the other way to me though, that the named companies are not involved and the companies involved are not named. The sheer competence of this language is so deliberately vague, its created to deceive. Its amazing sometimes when you do read a document 'written in plain English' by the same kind of lawyers who crafted these RNS' for SYME, how clear and precise they actually are. That we are debating it could be one way or the other is in itself evidence it isnt what it seems, and that it has been written like this, it doesnt deserve to be read in the way it has been targetted at me to interpret it by shouting out about the positives or thinking about them positively like i was this morning. Its not right!
No fair.. Can I join in please :(
LOL.. this is hilarious.. who needs EastEnders?
Haha parm u watch eastenders.
Would keep that quiet.
Not anymore Duffer, I'm hooked into this comedy LOL
With AZ's tweet it almost sounds like he is moving into supply chain finance rather than inventory finance. (Look it up on Google - otherwise known as reverse factoring). It's quite different to inventory financing. It allows small companies to get benefit of their larger customer's higher credit rating. It's a model that works. But it's a competitive market. And it doesn't give much comfort that he really knows what he's doing.
Bobak, why you are using we since you sold out last week? Are you using lies for a living?