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Hi JW
It’s been a good week. I have been all over DARK, I have left my holding at 25% o f my holding last week,looking to buy back at 340p. I know what you mean with DARK, I know how you feel, I always feel these shares can be bought cheaper. Sold 50% of my WIZZ holding. Bought back into 888. Bought and sold SYNT once. The main thing I’m looking at this week is PAY, any weakness I shall buy.
Happy hunting
Hi BF
There aren’t to many post hear,
I hope your wright with Croder, could be just the catalyst SYNT needs
I’m out of the red with SYNT. It’s taken quite a few deals to get here. The only thing I’m going to concede on I might be slightly under, if I include the purchases tax at .5%. I’m slightly under with PFC, T is no purchase tax.
If you sell, and buy back your average goes down, but the provider of stocks just cut your losses, they look at it like you took your loss on those stocks and keep the average the same, it doesn't mean that when you reach your average that you got all your money back, you still can have a great loss.... it shows green on your broker page, but if you count all the money that you put in, it will not be the same like the amount of stocks on the average.
Short said, bought a company at 16 they dropped till 5,7 got average down at 6.8, i only had all money back when the stock reached 8.6 when my average showed 6.8.....
And we’re back to low 150s.. must be WT selling his shares again and buying them back lower
Croda announces results on 27th february.
Which should give an indication of the overall chemicals industry, with some read across to Synthomer.
Fingers crossed for positive news, and overall increased economic activity.
A group of investment banks fully supported the capital increase. The capital raise was announced in a rights issue at 9.5 Pence before the reverse split of 20 old for one new share took place. 9.5 Pence multiplied by 20 equals 190 Pence. The new shares placed were a massive dilution (276 million £) and represented the entire existing market cap. The rights which shareholders did not take up ended with the underwriters of the deal. Therefore, by approaching the 190 Pence threshold, a wave of forced liquidation took place. The underwriters did not want to lose money on the deal.
The current market cap is 255 million £, a whole turn of the former market cap evaporated. I think the company was forced to raise the capital after getting the new 480 million $ revolving credit line extension in March 2023. Management bought shares in June 2023, Michael Willome 55'500 at 72 Pence = to 1440 pence today and was probably sure to be on the right track. With the lagging turnaround, the banks pulled the trigger. I would say that management had no choice to save the company.
The 3.875% Eurobonds maturing in July 2025 recovered back to par from the low 80s in October 2022. There is more confidence from bondholders than from shareholders. In one way, it is understandable when you lose more than 90% of your investment.
But looking ahead, if they can continue to divest non-core business units and cut further costs, which they have done nicely so far, the stock has the potential to recover.
The Malaysian rubber manufacturers were facing huge headwinds after a golden cycle during the pandemic. After tripling sales and more than ten times profits the cold shower came in 2022 and 2023. Revenues cratered by 80% at Top Glove and losses were piling up.
Kuala Lumpur Kepong is the largest single shareholder in Synthomer and is one of the largest plantation companies in Malaysia. Their business is growing steadily over years, but not an industry which is very welcome by UK or European investors. The market cap is 4 billion £, about the same as the annual revenues.
We’re well positioned to finish above 160 today (Friday)
Howdey
I have got my average down to to 154p SYNT.
Sold 50% of DARK, last night and at 9.00 this morning. I ve done okay considering I hit the buy button, when I wanted to sell last week. Almost bought PFC this morning couldn’t quite hit the buy button. Just sold some WIZZ. Have some funds available, probably wait until tomorrow. Usually some profit taking one Friday
Happy hunting
A
WT, sold out of DARK at 350. Amazing what happens with that share...would never be an LTH in it. Unfortunately MCGs continuing woes are a headache. Although I was out of PFC, the low 27s were too tempting for me yesterday. So I was not 'out out'!
Have some liquidity and would really like to top up here ... just really lacking the faith that it won't simply sit in this pocket until there's a further update later in the year showing management guidance is on track. There's just no volume traded.
No previous name, only other fora, but more in Belgium, been reading here for some time, since i bought synthomer last year when it dropped..... dropped a lot further. Didn't find forums in Belgium, with discussion about Synthomer, so finaly made an account.
146 should be the bottom in this wave down. Don’t hold your breath though
Fellow members
I hope you’re wright, I sold some SYNT at 160p and bought back at 154p.
Hi JW
I out this morning, not out out! Put a limit order to buy DARK. Never seen it filled before so quickly. Where are you at with them.
Out out is a routine from Micky Flanagan. Recommended!
The algo is just running it. Case of just holding and maybe top up on a sharp fall … doubt that will happen but who knows.
WT…assume you are working on DARK this morning?
This share moves all over the place
It doesn’t matter, boy.. What matters here more is that we printed higher high. Obvs we won’t go up in straight line.
P.S. blackspider.. 1 post. What was your previous username?
And below again.....xD
Firm close above 160 today and we’re pretty much out of the woods
In my response earlier I forgot to state that I am not making a recommendation of any kind, just realised my point sounded bearish, which is why I thought it appropriate to point out that I am long despite the challenging situation of the company.
Hi Hopan,
My penny's worth is that Synthomer still needs to stabilise its leverage in a challenging market for its products. As long as there are potential near term covenant breaches and/or debt maturities hanging over companies like these, they will trade like utter dogs. My personal sense is that we should be near the point where the company stabilises, and with a few non-core asset divestments, used to accelerate debt repayments, hopefully they can turn the corner and swiftly claw back some of the lost ground... But, as long as it looks like the creditors might end up having the company by the short and curlies due to covenant breaches, any sustained recovery in the SP feels unlikely.
If you look at the January trading statement they released, they specifically mention the need for resetting the covenants:
"Therefore, for prudence, we are progressing a dialogue with our lending banks to extend the period of temporary covenant relaxation to ensure that we maintain appropriate headroom while trading conditions remain subdued"
A very British way to say they are not out of the woods yet.
Either way, I remain positive and have built a stake here expecting them to make it, GL to all.
Hi WT…did not do anything with PTAL. Bought some CBG @ 290 and eying up more possibly. See that a little like WOSG where the market just crucifies news beyond reality of the situation. Shorters just jump in knowing funds have to move allocations.
Exited PFC as it seems it’s found its spot until there’s news. Just couldn’t break the 30p.
Hoping these chartists are on the money here!
I was down by 96% on the position, but fundamental looks still solid to me, hence doubled the position with a 10% stop loss, this time. I think bottom is in already - and rally is just starting same like 2009. At least I can see the technicals in the chart have lined up. But anything is possible 🤔😁
Hi UTTOM
BRING IT ON.
HOWDEY
PAY pays its dive in a couple of weeks, the planets are aligned for me to buy in the next couple of weeks
Talk me into buying some FCH
Did you take note, about getting a room, or did you look at PTAL they are already up 5%. I’m going to sell them just before x div day
HOWDEY
Did you notice POFCY rose 10% on Friday. I have traded in the same way with PFC now averaged down to 28p. I’m also expecting a big pay day.
VOD are a dilemma for me. It’s not all bad, it is well documented with Germany, Italy and the div is to high, if 2 out of these three are addressed. I could be the catalyst for the SP to improve. Should have bought some for 63p