Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Ohhh I forgot a link
https://uk.practicallaw.thomsonreuters.com/4-107-6228?transitionType=Default&contextData=(sc.Default)
Not only that, the shares will be new shares added to the market by Syme.
With the cash raised going between the family office and Syme.. not via a trade..
That’s if they decide to exercise/ exchange the warrants for shares
Man oh man .. extrader..
That post of yours was next to pathetic
Extrader, what are you on lad.
Do you know how warrants even work.
They can exercise the warrants at any time within three years, at” lowest closing VWAP over the ten days immediately preceding the issue of the loan“
The warrant guarantees, the family office arranged through arc, that exercise price for the duration over three years..
They can exchange any percentage of the warrants when they like..
It will always be 30% above the VWAP, from ten days after the loan was completed..
It’s a set price, fixed for 3 years..
I don’t know how to make it Easy for you to understand lol..
Thank you extrader, that will do nicely.
From RNS
https://www.londonstockexchange.com/news-article/SYME/new-loan-facility-closes-agreement-with-negma/15119963
Warrants will be issued for 20% of the £7 million loan value. The warrants will have a term of 3 years and exercise price of 130% of the lowest closing VWAP over the ten days immediately preceding the issue of the loan.
Simultaneously extrader..
Soon the first domino will fall…….
Why is that 32mill last trade on Friday marked Benc.. or benchmark trade…
https://www.londonstockexchange.com/stock/SYME/supply-me-capital-plc/company-page
Answers on a postcard ..
I get it from a commoditises prospective,
Benchmark as their will be change?
We will see, as brains in melt down, (AGAIN) lol
Bob, better men than me have backed this, TJ, JC, TB x2 (lol) EC.
DW with the bonds,
1AF2 with their holding and debt (bonds again)
It’s coming.
And like a row of dominoes, when the first domino falls, it will create a chain reaction..
Maybe
https://www.barclayscorporate.com/insights/international-insights/supply-chain-finance/
Referencing
ecosystem-based approach that’s of benefit to all parties across the supply chain, including the long tail of smaller suppliers.
“Large investment-grade buyers are increasingly realising the importance of not just looking at supply chain finance from a simple point of view of their own balance sheets and working capital generation, but more strategically in terms of the health of their supply chains, and in particular, the availability of systemic funding to those supply chains,” says James Binns, global head of trade and working capital at Barclays.
Just get it done AZ
Thank you for your kind words, appreciated.
We both know, everything is absolutely fine here.
There is always a point in time where research repays you with clarity.
Without a product to market, my focus is on the corporate development of the company, has been for a year.
We are now flying
Take care and good luck
Can you guess so am I … the bonds …the real deal
1 AF2 5.92% plus 12%. Is 17.92% .. not even close to covering the security for the bind of €61 mill
Remember AZ has pledged his shares to cover any short fall if the sp falls and the share price doesn’t cover the bonds…
Question is will 1AF2 get back the 17.99% before the bond, as they can’t use these shares as collateral twice …
They need the sp up up up
Extrader won’t argue as he’s already agreed… good lad .. pmsl
Soooo what’s happened with CLN.. tradEcho transactions.. warrants
Right ….AIMHO …
Negma we’re issued 840 mill shares at something like 0.32p
That is the total dept converted to shares to cover the loan
However,
Negma started selling, dropping the sp, and continued to sell.
These sells at a continual lower sp means the the total shares issued no longer covers the 100% of the debt
So AZ had two options. With a £5mill loan from NEGMA and still £2mill to settle (the balance between the Money Negma generated by selling the shares and the cash value of the loan)
Firstly he could issue more shares to cover another £2mill but this time the price of the shares would be in the 0.2’s.. you can see why they call CLN death spiral loans.
Secondly pay the outstanding sum in cash (hence the Arc arranged loan)
With the balance to FB, but that’s another matter,
So these TradEcho trades are both coming as buys and sell transactions
Basically, Negma selling to MM directly via tradEcho.
MM then passing them onto ii who are buying, again via tradEcho platform.
Now these warrants and additional optional loan
The warrants can be transferred into shares (up to 3 years) once the loan is finalised,
That’s the £5mill loan as the £2 mill is optional.
Since the terms of the warrants is 20% of the possible £7mill, that means money generated will be £1.5 mill. The family office will pay full share price plus 30%, sp being 6 day weighted average
This is why the £2 mill is optional, they may not take it if the warrants are taken up.
If not we have the loan, to take up the full 10% of the fintech bank…
As I said all in my humble/ honest opinion
Take it or leave it, not bothered .. but bought today … tick tock
Quanto,
This may help too
https://www.informdirect.co.uk/company-records/memorandum-and-articles-of-association-explained/
Extrader they can list as much bonds as they like as far as I am concerned as it won’t effect SYMES
Net income as it’s not SYM’s Debt
As for your last paragraph.. fail
“ An obvious protection to make sure your Security interest isn't diluted away, but I'm not sure how that will square with any shares that need to be issued for a CLN...or to pay the 'earnout' balance of TF acquisition.”
From RNS
https://www.lse.co.uk/rns/SYME/new-loan-facility-closes-agreement-with-negma-oly0rtvzt7cxejd.html
Extract.
The remaining outstanding par value of the Convertible Loan Notes not yet converted is £2,106,000 and this residual portion is expected to be repaid in cash, funded by the new short-term loan facility.
Indeed time will tell.
Hugh, works out something like this, (note the 17.99% already secured against a loan so can’t be collateralised twice)
So works out at
37% AZ
2.18 TJAnd JC
1.3% ish Enrico
40.48% .. (note doesn’t include the 17.99%)
Nor the 12% to five HNWI …(which 1 AF2 still have legal entitlement of)
Real holding 58.47%
Possible holding 70.47% (with 12%)
Something like that.
I could show where ii have increased their holding, but will stick to this for now