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9 Billion new shares!
Spin That!
Oooh they will... They will!
Ffs , it’s like he ‘s playing Monopoly 🤦🏻♂️
Even more annoying when they say they are pleased to announce 😂
14% more dilution.🤑
'Keith, Bayley, Rogers & Co.'
Sounds like a 1970's pop group!
Seriously it's only £1.5m quite modest funding..
...just thinking out loud but could this be the 1.5m they need to chuck into the pot for the first WL with BBPM?
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.
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
Interesting it's only a few months funding and not an entire year must be close to WL IM delivery..
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
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 😂
A nice little update where they are now would have gone nice alongside this RNS.
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
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
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!
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.
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
Not for Lth’s it won’t 🤦🏻♂️
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.
Legalized robbery of the highest order ! How does he get away with it?
My understanding is they need 1.5m to put towards first Banco BPM WL...
assuming they don't have 1.5 m stuffed under the mattress then they have to get it from somewhere so maybe this is it...
I have no idea how this will end up but will be interesting to see how it plays out 🤔
G L A
Why would they have to put money towards WL? And where is that in an rns?
It's to fund losses.
"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"
Now will the money actually arrive?