Member Info for extrader

Seriously ?

.."Until we complete 1st UK client your point is deferred [BY WHOSE AUTHORITY ? AND IT'S NOT 'DEFERRED', MAN, IT'S A 'LIVE', UNADDRESSED ISSUE!]- it’s at that point [AGAIN, SAYS WHO? IF YOU MEAN 'IMO', MAKE THAT CLEAR, PLS] the FRC can revisit their opinion.."

To recap: I believe that the FRC has the right to review...and that it's in SYME's commercial interest to facilitate that a.s.a.p...
That's IMO ;->

Peakhope
"Extrader - the 1st client IM was an Italian based company with bases in Africa and US jurisdictions outside of FRC :).."

I get that an Italian company may be outside FRC's jurisdiction in terms of its right / ability to regulate THAT entity...but that's not - with respect - the point. Read again the comment :

..""The FRC expressed reservations that this [true sale] could be achieved... ...but did not pursue this matter further given the Group is YET to facilitate the first inventory monetarisation transaction."..

At the time it made that comment, the pipeline of IM transactions was most, if not all, overseas. Its observation was limited to the fact that there was NO IM for it to consider., ie it asserted a right to REVIEW, not a right to REGULATE.

There is now, per AZ and per RNS - there is no reason why the FRC should not review the transaction recently concluded, with SYME's and the client's full cooperation and support.

As I've already said, there'd be no public breach of any confidentiality issues ....and commercially both SYME and client (more so SYME) have a lot to gain from seeking such a review.

With the interims due out shortly, this issue - the FRC's purported reservation - isn't going away, now would be a great opportunity for AZ / SYME to get ahead of the news for once, instead of being constantly on the defensive.

Just IMO.

PS I hope - in similar vein - he/SYME will address the still unprovided valuation report issue. He/SYME do themselves no favours by being dilatory/unco-operative on an issue where they've acknowledged they have a duty to comply. It's a very short-sighted way of doing business, especially as there's no obvious upside for behaving in this way.

And whilst we're talking about 'IM' and the nay-sayers doubts whether this has been achieved or not, there's an opportunity to lay this to rest for good :

.."The FRC expressed reservations that this [true sale] could be achieved... ...but did not pursue this matter further given the Group is YET to facilitate the first inventory monetarisation transaction."

IF first IM has been achieved, the FRC should provide a quick 'all clear'. If it doesn't, SYME should insist that it do so asap, since otherwise the FRC will rightly be accused of damaging SYME's good reputation and business prospects.

I hope (Peakhope ?) someone will follow up with AZ, to make sure that he follows up on this timeously?

An RNS (Reach) announcement that SYME had written to the FRC formally requiring it to revisit its opinion - and pointing to the damaging commercial impact SYME was facing, absent clarification - is something all shareholders should welcome.

The client's name only needs to be shared with a governmental agency, the FRC, not the market ...and they should be happy, as 'first adopters', to have the 'cover' of FRC endorsement.

Over to you, Alessandro !
GLA

Glad to see today's RNS 'for the record', however , the English is apalling :

.."The Company confirms that it was made aware of this allegation by, and at their request, is helping the relevant Irish authorities in respect of this allegation..."

Seriously ?

The Times: Rio Tinto and its biggest customer, China Baowu Steel Group, are to invest $2bn in developing a new iron ore mine in Western Australia.

Zanaga not attractive enough ?

Ho hum

They're projecting 4x to 6x s/p appreciation for a number of co's over the next 12 months. No view on Aclara..... I'd want to know what their past track record of predictions is like...or at least some rationale for the latest projection !

ATB

Whilst waiting for news from SYME, here's a gem from DW's latest wheeze, Zamaz .

https://www.londonstockexchange.com/news-article/ZAMZ/successful-listing-a-result-of-good-teamwork/15613393

at least SYME didn't start life funded by CLN's....

.."Who has heard of a company listing with Convertible Loans [aka death spiral financing]?

"The Company has conditionally agreed to issue and Atlas Capital Markets LLC ("Atlas") has conditionally agreed to subscribe for: (i) 35,332,163 new Ordinary Shares issued as fully paid (the "Subscription Shares") (the "Atlas Equity Subscription") at £0.11 per share (equating to £3,692,211 at £0.1045 per share after a 5% discount from the £0.11 per share price (the "Atlas Equity Discount")) (the "Atlas Equity Subscription Price"); and (ii) up to £15,000,000 in principal amount of convertible loan notes ("CLNs") (equating to up to £14,550,000 in principal amount of CLNs after payment of a 3% fee due to Atlas (the "Atlas Transaction Fee")) with up to £2,250,000 (not subject to an Atlas Transaction Fee) of warrants attached ("Warrants"), pursuant to a subscriptionagreement (the "Subscription Agreement") between the Company and Atlas, dated 26 August 2022 (the "Atlas Facility Date") (the "Atlas Facility"). Duringthe period commencing on the Atlas Facility Date and ending at 5.00 p.m. on the third anniversary of such date (i.e., 26 August 2025) (the "Atlas FacilityCommitment Period"), the Company may (but shall not be obliged to) require Atlas to subscribe for CLNs, and the Company would be required to issue CLNsto Atlas in up to five tranches of 300 CLNs at £10,000 in principal amount per CLN (each, a "Tranche"), with each such Tranche comprising £3,000,000 (or£2,910,000 after payment of an Atlas Transaction Fee) in principal amount of CLNs with £450,000 of Warrants attached (being 15% of the value of CLNs in aTranche). On 26 August 2022, the Company issued instruments constituting the CLNs (the "CLN Instrument") and Warrants (the "Warrant Instrument", andtogether with the CLN Instrument and Subscription Agreement, the "Atlas Facility Documents")."

https://www.zamaz.tech/wp-content/uploads/2022/09/Zamaz-Prospectus-DEF.pdf

Winnifroth as ever takes no prisoners :.....".The IPO valued this crock at £77 million but it is in reality worth net cash raised (£2 million) and £125,000 for the underlying business (max) as I explained HERE..."

Something for the weekend, gents.

ATB

.." Let’s see what the 1.6m report comes back with, that will probably get things moving in the right direction?.."

On past form, certainly unlikely to see anything before the 28th or 29th Sept...

May be a case of 'the son-in-law also arises..?'

I'll get my coat.

.."We could do with approaching Nat West to let them know that we have cash readily available to cover their loan if Seek defaults.."

For sure ! I would hope that CF has this covered....

That would be a better use of ORPH's reported cash balance than the share buybacks that some folk have been advocating !

IMO

Interesting that the link provided (thanks !) refers to the subsequently-failed Israeli Phase 3 BiondVax...and hints at the scale of the prize :

.."Stoloff believes FLU-v could generate $10 billion to $20 billion annually over 20 years because it would be a global vaccine for a target population of 7 billion people. Currently, seasonal flu shots generate about $4 billion per year on about 350 million doses, he said. .."

C'mon Cathal !

.."Don’t flatter yourself with that modest holding!!.."

It's not the size of the dog in the fight...

..."2 years ago when IM was a vision it left to 0.85p..."

That would be 'leapt', presumably.

And was on the back of a plethora of 'managed' news releases, as most will realize.

Each to his/her own.

Thanks for this.

PrepBioPharm also gets a mention... " two shots on goal" as someone (JS) might say !

Sorry Trev, you're wrong.

The 'event' prompting the TR-1 is described as a change in the breakdown in (ultimately) AZ's voting rights held via TAG - and may be something to do with the ECP/DW pledge.

The reduction in TAG/AZ's shareholding votes is from 38.9%, 16.75 billion, to 12.74 billion (29.6%) or just over 4 billion shares.

The 600 odd million extra shares after OO aren't material enough a change in denominator to warrant this TR-1 by themselves.

AFAICS

Mood music continues positive - extract from a Mauldin publication, Strategic Portfolio :

.."PricewaterhouseCoopers just released its mid-year report on the healthcare industry. The firm points out that big pharma companies are losing exclusivity on key drugs: “Upcoming patent cliffs will put nearly $180 billion in revenue from the largest pharma companies at risk between 2023 and 2028.”
One solution to this is acquiring companies that are developing promising drugs. The firm says “all of the stars are aligned for there to be a flurry of deals activity.” It expects that to begin in the second half of this year, which would bode well for biotech stocks...."

NAI, DYOR etc etc

AT made some cryptic comment about 'Twiggy' Forrest during one of my calls a year or so back (maybe longer), he's big on ESG and Zanaga's premium grade ore is good (or 'less bad') on the emissions front.

He's now non exec Chair of Fortescue Metals Group, is worth abt AUS $ 27.5 billion and is also keen on countering modern slavery

https://en.wikipedia.org/wiki/Andrew_Forrest

Not sure what his relationship with GLEN (if any) is like, GLEN snapped up his first failed company Anaconda Nickel in 1993.

.."Where did the word corporate come from?.."

From the same place as the word 'bankrupt'.
.."Like so many of our words, the term “bankruptcy” is believed to be Latin in origin. Scholars think that the word is a combination of “bancus” (bench) and “ruptus” (broken). A banker who no longer had any money left to lend would symbolically break his bench in public, signifying that he had failed to keep his business running...."

Why do you ask ?

Here's a more positive interpretation, from LFDKMP that 'chimes' with StrictlyZinc's POV :

.."If I had been an overpromising optimist, and without real sector experience, had been caught out by the timings I had got so badly wrong, what would I do, particularly as those shareholders who were persuaded by my optimism are now up in arms at the relentless erosion of the share price?

Firstly, I would rein myself in, even though I still have faith in the fundamentals of the business model. Then I would recruit a seasoned, measured industry professional, with a track record and presence respected by the industry.

Then I would show, through regular reported business wins and significant investment in key facilities and infrastructure, that notwithstanding the awful share price, the business is delivering and the pipeline is extremely healthy.

When all of this can be demonstrated without contradiction or caveat, I would then present myself to a market "inquisitor". I would hold my hands up, apologise, and acknowledge that I got the prediction/projection bit badly wrong. That is in the past, the future will be different. Going forward, we will deal, report and project on a factual basis.

Here are the facts. Now do you wonder why I have been (and continue to be) optimistic? ;-)..."

Let's see what happens !