The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
So I am guessing are you all aware TAG are taking SLS to court (they did say they would look at legal action) which is now in advanced play (filed 23/2/24) in US as have not engaged re return of their stock securities after TAG elected to pay back loan. I wonder if this is why there’s been such a play here on the market this past 12 months? Were they lent out by stock co and shorted? (Obviously and wrong!) Would certainly explain the situation. So if this was the case when judgement given to TAG (why would it not as SLS failed to engage re allowing loan repayments against 778,571,429 shares being returned ) then what are we going to see here - a massive short squeeze as SLS are forced to buy them back or the entity/entities that lent them to short? Haven’t even covered the other stock loan company.
From 22/3/24 RNS
‘As detailed in the Company's previous announcements of 29 July 2020 and 17 August 2022 (the "Stock Loans RNS's"), SYME was notified by 1AF2 Srl (now called TAG) that it transferred a number of SYME shares as loan security to three lending platforms ("Lenders") and that the loans with each of these Lenders had the following maturity dates:
· High West Capital Partners LLC (1,615,253,000 SYME shares transferred): 2 June 2023 (the "HWCP Loan");
· Stock Loan Solutions LLC (778,571,429 SYME shares transferred): 24 July 2023 (the "SLS Loan"); and
· Union Pacific Capital Ltd (3,500,000,000 SYME shares transferred): 9 June 2027.
With regards to the HWCP Loan and the SLS Loan, TAG has updated the Company that it has applied the loan repayment procedures set out in the contracts with the respective Lenders. TAG has also informed the Company that it has not yet received the required engagement from the Lenders of the HWCP Loan or the SLS Loan. As a result TAG is currently pursuing legal options to allow for the required loan repayments to be made by them and for the SYME shares that were transferred as loan security for the HWCP Loan and the SLS Loan to be transferred back to TAG.”
Here is the link to the court case
Avantgarde Group S.P.A. v. Stock Loan Solutions, LLC et al (2:24-cv-00137), Utah District Court
IMHO DYOR
Https://www.pacermonitor.com/public/case/52439988/Avantgarde_Group_SPA_v_Stock_Loan_Solutions,_LLC_et_al
Link for TAG V SLS
IMHO DYOR
A motion to compel arbitration is a legal request made by a party in a dispute, asking the court to enforce a contractual arbitration clause and require the parties to resolve their differences through arbitration instead of litigation. A party can file a motion to compel arbitration if they have a valid and enforceable written agreement to arbitrate. The court shall order the parties to arbitrate if the other party does not appear or oppose the motion.
Notice Notice of Availability of Judicial Settlement Conference Tue 05/07 9:49 AM
NOTICE OF AVAILABILITY OF JUDICIAL SETTLEMENT CONFERENCE. For the benefit of the public and the bar, the District of Utah offers judicial settlement conference as an alternative for dispute resolution assistance in all civil cases and bankruptcy adversary proceedings. The court offers this alternative because, when compared with litigation, it can resolve a dispute faster, at less expense, and with solutions that are better able to meet the parties' needs and interests. Parties may file a stipulated motion for judicial settlement conference. A form[LINK:motion] is available on the court's website. Notice e-mailed or mailed to Plaintiffs 1AF2, Avantgarde Group S.P.A., Defendants Camo, LLC, Harvey L. Carmichael, Harvey Carmichael, Inc., Sanskirt LLC, Stock Loan Solutions, Stock Loan Solutions, LLC, Stock Loan Solutions, LLC, Joe D. Thomas. (alf)
Utility Reassignment to District Judge Wed 05/08 10:57 AM
NOTICE OF NON-CONSENT Consent to the jurisdiction of the Magistrate Judge under DUCivR 72-4 has not been obtained. Case randomly assigned to Judge Howard C. Nielson, Jr and Magistrate Judge Daphne A. Oberg. Magistrate Judge is automatically referred under 28 U.S.C636(b)(1)(A). Magistrate Judge Daphne A. Oberg no longer assigned as the presiding judge to the case. (mh)
Jarv on stock loan deals the stock loan company cannot sell them (only on default -TAG have not defaulted obviously they are being prevented in settlement of loan)- they are held as securities as collateral against the loan and have to return them back. Where on earth are they? Who has them? Why won’t they let the loan be settled and stock securities returned to TAG? Big problem to get them back from whom exactly? Where are they? Hence logically with that amount of shares outstanding has to be a short squeeze coming and combined with positive BIG IM news would see SP go mental (a return of the 2020 mega rise)! IMHO DYOR
Think you need to read the original stock losns rns sharebell.
Because
1, they can do what they like.
2, they don't have to return them
Sharebel they can use them to trade.
Taken from RNS 29/07/2020: ' 1,615,253,000 SYME shares transferred to High West Capital Partners LLC
- 778,571,429 SYME shares transferred to Stock Loan Solutions LLC
- 3,500,000,000 SYME shares transferred to Union Pacific Capital Ltd
The shares have been transferred to secure loans (the "Loans") to 1AF2 ("the borrower"), with a minimum two-year duration, after which period 1AF2 confirms that it intends to repay the loans. The Loans may be drawn in a series of tranches over one month and Lenders may trade pledged shares to diversify their portfolio concentration risks. UPON REPAYMENT, ALL 5,893,824,429 SYME SHARES WILL BE RETURNED TO THE BORROWER.....
Luckybob that’s absolutely bull Sir! I simply do not understand you. You claim to be invested but come out with this stupid statement? Stock loan companies lend out ££ and use the stock (shares)as collateral against the borrower not paying loan and interest off at maturity. This situation is TAG taking SLS to court by them failing to meet their obligations under the agreement by not allowing TAG to settle the loan repayments at maturity and in doing so the stock must be returned. They cannot keep them ffs - it’s like herding cats here- basic stuff, basic premise and why TAG issued court case to SLS the defendants. You have commented many times on the weird price action and seemingly manipulative trading action. Well now you know. This is advanced case and judgement of return of collateral (shares held as security against the loan) and allowing TAG to settle in line with agreement will mean fireworks short squeeze here ! IMHO DYOR
Sharebel, with all due respect. All the stock loaned shares were sold down by 3 large entities in 2020 hence the drop back and shorting occurring since August 2020. Then we had the fake option call by AZ to clear out all insider shares early 2021 before the April Fool RNS 2021.
IMHO DYOR 😂
Millions made from PI and shocking really and I have to agree with Bobb below. Look at the controlled buying last week when price was held at around 0.020. Bet your bottom dollar that was the SLS buying back as clearly the case is an an arbitrary state now between AZ and SLS so settled easlibly by gobbling up cheap shares at under £200k. Unbelievable and ALGO trading done the trick yet again.
The collateral MUST BE RETURNED end of hence lawyers representing TAG issuing court case against SLS! If they have traded them them that is their problem to solve - traded? Shorted? Sold? They need to find 778,571,429 shares soon to return! This surely is what our current management of SP is all about how much longer before pressure cooker blows? IMHO DYOR
Agreed, collateral must be returned. Shares or cash. Shares was easy at a fraction of the cost originally of the 778,571,429 shares transferred at 0.09 pence.
Unbelievable as that was £700,714 at the stock loan agreement in 2020.
Made millions trading / loaning them out.
Sharebell, the shares or cash equivalent must be returned.
Cash equivalent!
Well when you can't pay the loan and you've had the cash , then the cash equivalent cancels itself out.
And it states in the rns they can trade the loaned shares.
You can't trade them without selling them.
I belive the words used was "to mitigate risk, or exposure"
When I've time ill post it from the rns word for word.
Good points Sharebel.
Micky1 is a very upset constantly negative investor. I very much doubt any of the loan companies would have been crazy enough to trade borrowed shares...it will be better if they have as pointed out by Sharebel, they have to return them....that means buying on the open market.
Hughez sorry but that is a very Naive view. This stock has been pumped and forward sold loads of times and every time the mms get forward sold shares the sp gets shorted down. Dominic White had a field day trading these. You only have to look at the chart to see the number of times this has happened. And of course the ones who had the loaned shares would of taken advantage of that would be mugs not to.
Take it the 4mill buyer gets them cheaper splitting the trade.
Where does it say cash or shares returned? It is return of collateral being SYME stock. If they had sold them then they are long gone into others pockets. They still have a requirement to return them as stock so would need to buy them all back. If they lent them out to short then whoever lent needs to return them. This has been going on since last summer. It has been strung out until legal action taken on 23/2/24 by TAG which is coming up to fruition. The basis of the agreement is simple. Pay the loan back at maturity TAG being prevented paying back (last summer) and lender return stock to borrower in full. So what is the problem? IMHO DYOR
Lucky they (TAG) can pay, want to pay but prevented from settling with (SLS) read the 22nd March RNS -
‘With regards to the HWCP Loan and the SLS Loan, TAG has updated the Company that it has applied the loan repayment procedures set out in the contracts with the respective Lenders. TAG has also informed the Company that it has not yet received the required engagement from the Lenders of the HWCP Loan or the SLS Loan. As a result TAG is currently pursuing legal options to allow for the required loan repayments to be made by them and for the SYME shares that were transferred as loan security for the HWCP Loan and the SLS Loan to be transferred back to TAG.‘
I presume the TAG V SLS will be precursor for apparently same situation as with HWCP making it even more of a squeeze ?
IMHO DYOR
Https://www.voxmarkets.co.uk/rns/announcement/0581cbaa-85dc-4419-a499-8cf00b476a71/
(*) The percentage stated does not include the 17,99% of SYME shares related to the collateral transferred in accordance with the three stock-lending transactions announced by 1AF2 S.r.l. on 29 July 2020. At the end of this stock-lending transaction or on the repayment date (in July 2022), the collateral will be returned to the AvantGarde Group in shares or cash (this option has been negotiated in order to avoid any take over risk), at the choice of the borrower.
Or is AZ giving them back the shares ? Now that is maybe why someone paid £170k instead of £770,714. 🤔
Micky at the choice of the borrower the borrower TAG is the borrower and has elected to have their collateral returned in shares! The same shares they used as collateral hence the Court case issued by TAG V SLS in Feb 24!
‘With regards to the HWCP Loan and the SLS Loan, TAG has updated the Company that it has applied the loan repayment procedures set out in the contracts with the respective Lenders. TAG has also informed the Company that it has not yet received the required engagement from the Lenders of the HWCP Loan or the SLS Loan. As a result TAG is currently pursuing legal options to allow for the required loan repayments to be made by them and for the SYME shares that were transferred as loan security for the HWCP Loan and the SLS Loan to be transferred back to TAG.‘
IMHO DYOR
Correct. Just showing that I reckon someone (whomever it is) has likely repurchased 778M shares at 0.020 for £170k
It will come out in the wash so to speak like everything else in this laundry facilty.
What price did he lend thr shares out at?
Loan shares clarified
5,893,824,420
0.075 pence
1,615,253,000
High West Capital Partners LLC
Total £1,211,439.75
0,09 pence
778,571,429
Stock Loan Solutions LLC
£700,714.28
0.07617 pence
3,500,000,000
Union Pacific Capital Ltd
£2,665,950
£4,578,103