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Not many shares in free float either. This could get interesting
IMO, not less than 50p.
They cannot get the company cheap if the shareprice is pushed up by PI's buying shares. They will have to make an offer to reflect the higher shareprice. Give it a couple of days and we may see 50p or 60p or more. Still quiet at the moment.
62p on IPO just over 2 years ago. Revenue/profit up at least 100% since then. No dilution since then. Only 26.9 million shares and 11.7 million in free float. Just need people to wake up to the upside here.
We know that but lots of brokers still haven't reinstated it as a tradable share.
It'll only go for less than it's current value if the AIM market and PI's let it. Look at AST recently. That got pushed so high the Buyers pulled out. The management know the fair value hence why the CEO hasn't rushed in with a derisory offer. The market now has a chance to re-value SYQ to somewhere near its true value.
21/04/2016 08:11:20 SYQ 20.70 O 6,000 21/04/2016 08:09:10 SYQ 20.00 O 6,000 21/04/2016 08:07:48 SYQ 20.50 O 20,000 21/04/2016 08:06:44 SYQ 21.01 O 6,500 21/04/2016 08:06:21 SYQ 23.40 O 1,500 21/04/2016 08:06:19 SYQ 23.40 O 17,072 21/04/2016 08:04:27 SYQ 24.00 O 25,000 21/04/2016 08:04:19 SYQ 21.15 O 5,000 21/04/2016 08:03:15 SYQ 23.00 O 6,000 21/04/2016 08:03:00 SYQ 24.90 O 7,000
24p paid
Art good posts. Prob is how much is this worth? Takeover code states highest sp in last 12mths from offer period? So 50p?
No-one here as yet. Maybe most of the dealing websites still have this on suspension.
This is not available to trade yet on Hargreaves Lansdown. It's still suspended there. Luckily I managed to get some on Interactive. Got to get to at least 60p in next few days. D Cotterell paid 66p for his and he's the Independent Director overseeing this.
LOL what a ridiculous post, did you mean that in jest or are you actually serious? Read the accounts again I suggest. They are valued at just £4.8m and are expecting to receive the £11.7m in trade receivables. Turnover was up to £11.61 million (year ended 31 December 2014: £10.67 million) and would have been 15% higher but for the depreciating Ringgit. This has now reversed so expect it to benefit SYQ positively in the H116 results (not the H215). Profit before tax of £1.38m up from £960k in the first six months a year earlier. Very encouraging signs of expansion elsewhere contributing to growth. Receivables expected to be collected. If they are not then they are written down and the Directors know this, so why make an offer beforehand? They would have released the news first, watch it tank before making an offer. No, this looks like they are aware of 'X-amount' of payments collected and want to take the company over on the cheap. I've said for a while this is too cheap and now it looks like an inside takeover is going to see this go for a lot less than it's current value. Good luck getting yours substantially below 18p though haha
It's a lot easier to value a company that is in profit as against most of the loss-making AIM nightmares. At the moment SYQ is trading at 2.212 X P/E. This is ludicrously low. At the time of floatation, just over 2 years ago, the current management valued SYQ at £14.4M at 62p per share with 23M shares. That was at about 15 X P/E as the revenue and profit has more than doubled in the last 2 years. There hasn't been any dilution since with the extra shares (there are now 26.9M shares) issued to pay for an acquisition. Cash or trade receivables don't need to come into the equation for valuation and there is no debt. We just need revenue and profit. Last full year the profit was just under £2M so at say 10 x P/E that would give a valuation of nearly £20M or 74p per share. This year half-yearly profit was £1.38M and the trading statement yesterday said business was good and that "the profit before tax for the year is expected to be materially ahead of market expectations". The definition of "materially" is "significantly" or "substantially" so for the full year profits could be in excess of £3M (or more). £3M at 10XP/E gives £30M or £1.15p per share. The management know what SYQ is worth. The game now is to make sure they pay what the company is worth and not what the AIM market thinks it's worth. Only 11.7M shares in free float. No debt. Trading in profit. "The Directors expect to be able to report further growth in 2016, as the year has got off to an encouraging start." There has been no offer as yet so there is an opportunity for this to rise so a sensible offer is the only option. All just my opinion.
This has surely got go up. CEO interested in taking over and he knows what this is worth. IMO a lot more than current market cap? Customer owe almost 3 times market cap! Personally dont believe that customers will not pay..
4PS -.Can you now? I'd like some of the stuff you're drinking! But if you want to sober up I suggest you read the trading statement. Forget the stuff about revenues up and profit etc. Their trade receivables have been rising alarmingly since mid last year - rocketing actually. They have no cash and they're two biggest customers are not paying them. With a MC of £4.8m and trade receivables at nearly £10m more than the MC the company is now talking of a provision which could wipe out the BS at a stroke. I suggest that if there is an offer it will be substantially below 18p because the company have no assets. Exoect a crash tomorrow morning.
I can see the MM's marking up the SP sharply on opening tomorrow.
We're in an offer period by the CEO - no figures discussed. Back from Monday's suspension. Wouldn't think he'd be wanting to pay top dollar.
I think the facility is a non-starter as it requires cash in the form of fixed deposits to be able to us the facility, and if they need the facility it would be because they don't have any cash..... They were cash generative in H1 2015, but only just. Their cash collection has been poor. I really really hope the suspension relates to an offer and that is an offer the Board consider 'fair' (which has to be a lot better than a 50% premium). I am just concerned.... I wonder when the announcement will be released...
I think the facility is a non-starter as it requires cash in the form of fixed deposits to be able to us the facility, and if they need the facility it would be because they don't have any cash..... They were cash generative in H1 2015, but only just. Their cash collection has been poor. I really really hope the suspension relates to an offer and that is an offer the Board consider 'fair' (which has to be a lot better than a 50% premium). I am just concerned.... I wonder when the announcement will be released...
I think it's wishful thinking that SYQ have run out of money. The business is profitable. The Company ended the period with net cash of £0.58m (H1 2014: £0.45m) and trade receivables of £8.4m (H1 2014: £5.4m). Let's focus on that huge increase in receivables, the company are waiting on some large payments and are quote "now coming to the later stages of the payment plans struck with its primary customer for recovery of 2012 and 2013 billings". - "all trade receivables are now classed as current assets" - so not only has the cash position increased to £580k we are waiting on a large portion of current assets to become cash. "In addition the Company has access to a £3m working capital facility should it ever be required. The Facilities are secured by a fixed and floating debenture over the assets of SyQic Capital together with an assignment of the contact proceeds. In addition, the amounts capable of being drawn down on the facility at anyone time are dependent on certain coverage ratios on amounts placed in a fixed deposit account with the Bank." - It does read like SYQ are required to deposit a certain amount of cash and insure the value of the facility using assets. But how much is that likely to be? Not a huge amount I would imagine and if it gives SYQ access to cheap cash-flow in order to boost growth and maintain the current pace collecting receivables in the short term it looks like a good trade off :)
'The [Bank] Facilities are secured by a fixed and floating debenture over the assets of SyQic Capital together with an assignment of the contact proceeds. In addition, the amounts capable of being drawn down on the facility at anyone time are dependent on certain coverage ratios on amounts placed in a fixed deposit account with the Bank. Doesn't that suggest they need to have cash in a fixed deposit to be able to draw down on the facility?
That should read £3m banking facility.
I doubt that, they have a £3m banking facility.
I have a horrible feeling they have run out of cash.....
what u hope 4 lol...a t/o @ say 25p wd be a lot better than some "news" I cd imagine ..gl