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Thanks for that information miker444 , I think news is close at hand. I also think we will not be satisfied with the news 100%. More news will come though. SYME have come along way in the last 12 months , what with buying another company to work in symbiosis with Syme , hiring of a plethora of top notch people and advancing on all fronts. I seriously don't think we are being 'played '.
IMHO.
GLA LTH.
Has my Q & A Thread disappeared ?
Q149: Please can you confirm who the 2 of the big 4 accountancy firms are?
A149: The Company does not have the authority to disclose the names. In this regard, we can confirm that, at the date, the Company is working with all of the Big4 accountancy firms which are also introducing new Client companies.
Wouldn't be this one surely !
;)
apunter2
Posts: 4,318
Price: 0.29
No Opinion
RE: Nasdaq RequirementsToday 03:29
Oh extrader, you think I sleep lol.. not for years now,
So let’s look at your posting for a change, the subtleties in the bond announcements where your posts are fails.
Let’s start with this
“So investors will look at TAG/1AF2 financial credibility first... and only then at the underlying security on offer.
TBH, SYME shares as security have several question-marks.....and 1AF2 /TAG financials are a complete unknown... do you seriously believe TAG financials will be forthcoming.”
Do they though, as you see below 1AF2 ltd, which is now a subsidiary of TAG, a merger with 1AF2 srl
The bonds are issued by 1AF2 ltd, with TAG acting as guarantor. It also states, as I posted and the link confirmed, a periodic review to ensure the right level of security is in place.
So sp goes up level of security goes down, and obviously if sp falls a larger proportion of shares are required,
Hence my statement that TAG and 1 AF2 are aligned with PI
It also shows AZ and 1 AF2 have not sold shares, nor are they likely to in the next 2 years as they need to cover the bonds
Referencing ECP RNS
https://www.eight.capital/wp-content/uploads/2021/08/25082021-Purchase-of-EUR40million-Secured-Bonds.pdf
In which it states
“The Bonds were issued to IWEP by 1AF2 Limited, a private company registered in England which is a wholly owned subsidiary of The Avantgarde Group S.p.A. ("TAG"),l
Bonds require periodic review and revaluation of the security package, and provide mechanisms for its modification if required, and additionally include a parent company guarantee by TAG which may be exchanged for a specific asset pledge in the future, subject to the trustee accepting this change on behalf of bondholders. The Company understands that it is the intention of TAG to list the Bonds on a European stock exchange in due course.
Now we have established fact, we can progress to focusing on your statement
Now you state given TAG financials etc, copied and pasted above, it doesn’t need to be TAG financials. Since it is 1AF2 issuing the bond the financials could be their financial reports.
It could even be possible it’s Banca Del Ceresio financials given the information from the link attached below and the statement within.
https://www.lse.co.uk/rns/SYME/holdings-in-company-q8tzlso87otx3i6.html
Eurofinleading Fiduciaria SpA owns 1AF2 srl
Of course it’s a fiduciary service, before you say a word, but the example is clear.
It could be who is behind 1AF2 ltd and srl.
One thing is clear, it is not as plain as you make out. Your posts always contain a fail.
Luckily for me I am not rushed as I normally am during the day.. as I could rip you a new arse ever second of every day as I have done all day today
You will pick holes in my post, but it will be BS and everyone knows it.
Start qualifying your s
Part 2.
fiscal year must be $110 million, minimum.
Standard No. 3: Capitalization With Revenue
Companies can be removed from the cash flow requirement of the second standard if its average market capitalization over the past 12 months is at least $850 million and revenues over the prior fiscal year are at least $90 million.
Standard No. 4: Assets With Equity
Companies can eliminate the cash flow and revenue requirements, and decrease its marketing capitalization requirements to $160 million if their total assets total at least $80 million and their stockholders' equity is at least $55 million.
To stay listed on the Nasdaq, a company must continue to meet the minimum listing requirements or risk being delisted and removed from the Nasdaq exchange.
The Bottom Line
A company has four ways to get listed on the NASDAQ, depending on the underlying fundamentals of the company. If a company does not meet certain criteria, such as the operating income minimum, it has to make it up with larger minimum amounts in another area, like revenue. This helps to improve the quality of companies listed on the exchange.
After a company gets listed on the market, it must maintain certain standards to continue trading. Failure to meet the specifications set out by the stock exchange will result in its delisting. Falling below the minimum required share price, or market capitalization is one of the major factors triggering a delisting. The exact details of delisting depend on the exchange.
Sorry , bit of a long read. Taken from Investopedia.
What Are the Listing Requirements for the NASDAQ?
Major stock exchanges, like the Nasdaq, are exclusive clubs—their reputations rest on the companies they trade. As such, the Nasdaq won't allow just any company to be traded on its exchange. Only companies with a solid history and top-notch management behind them are considered.
The Nasdaq has four sets of listing requirements. Each company must meet at least one of the four requirement sets, as well as the main rules for all companies.(1)
KEY TAKEAWAYS
• Major stock exchanges, like the NASDAQ, are exclusive clubs—their reputations rest on the companies they trade.
• The NASDAQ has four sets of listing requirements.
• Each company must meet at least one of the four requirement sets, as well as the main rules for all companies.
• In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.
• A company has four ways to get listed on the NASDAQ, depending on the underlying fundamentals of the company.
Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly traded shares outstanding upon listing, excluding those held by officers, directors, or any beneficial owners of more than 10% of the company.
The regular bid price of shares of the company's stock at the time of listing must be at least $4.00. However, a company may qualify under a closing price alternative of $3.00 or $2.00 if the company meets varying requirements.
There must be at least three (or four depending on the criteria) market makers for the stock. For companies using the $3 or $2 criteria, only two market makers may be required. Each listing firm is also required to follow NASDAQ corporate governance rules 4350, 4351, and 4360.
Companies must also have at least 450 round lot (i.e., 100 shares or more) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
As of 2020, a company must pay a $25,000 application fee before its stock can even be considered for listing, and it can expect to pay between $150,000 and $295,000 in entry fees if successful.
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.(2)
Standard No. 1: Earnings
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the previous two years at least $2.2 million, and no single year in the prior three years can have a net loss.
Standard No. 2: Capitalization With Cash Flow
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. Also, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous
Good morning all LTH and thank you for the posts.
I'm still new to owning shares and wonder if consolidation will give me less money at the end of the day when I come to sell just a few of my SYME shares. I am a long term holder as the majority of my syme shares ( I now only have syme ) are in my sipp and isa's jut a few in my trading account to cash in as and when.
My concern is if we consolodate at say 2p @ 1000- 1 ( this will roughly give us $3 , Nasdaq requirement) will I benefit?
ATB to all GLTH.
ALL the best for tomorrow Peak.
@Occams, No Mr Zamboni is not dumping his entire holding . Why would he ?
Tradeflow acquisition completed.
10% stake in a bank for funding.
Full BOD of very competent, leaders in their own fields.
1st tranche of IM due anytime.
SYME about to go GLOBAL.
MUPPET.
Just re-read the rns. Well it seems quite positive to me, I especially liked this bit.....with the aim of maximising investment value for SYME' shareholders...
Looking forward to the interim financial statements to end of June 2021 and the AGM. I think both will give more positive news.
ATB LTH.