Member Info for extrader

The call options in the Prospectus appear to have expiry dates that had passed when AZ exercised them, I used the qualifier 'if exercised/exerciseable' in the case of the put options to cover the possibility that they might be treated /treatable (by mutual consent) in the same way, given SYME's propensity to miss deadlines...

..."I also believe something has been in place prior to RTO and I stick with a deal with Taulia happening in...... Possibly August..."

The only 'unfinished business' that I'm aware of are the put options detailed on p 130 of the Prospectus which, if exercised/exerciseable, would seemingly reverse AZ's acquisition of 100% of TAG, when he exercised the mirror call options.
That all seems far too convoluted a plan, though, even for SYME.

AFAICS

.."Would any country completely destroy its economy, starve its people and cripple its job market to make a neighbour feel better or look good on the international stage or indeed save another country from something similar. Would the UK?.."

Well, there are those who believe that the UK's 2050 green commitments might thusly be described.

;-<

Most of the news being known to management, too : if AZ /1AF2 had delayed the secured loan for a few days, he'd have got a lot more dosh for the collateral he posted.

..""apart from the toxic fallout"..

I know of someone being treated for leukemia who says that the only explanation he's been given by the medics for his illness is that he'd spent a fortnight cycling around Scotland at the time Chernobyl fallout was seeding the rainclouds.

;-<

Mark-k,

They don't have to hold...the point is, the 3 x lenders could have sold the shares on (as they're allowed to, for 'exposure management purposes' - whatever that means) to any potential corporate raider.
Thereby INCREASING takeover risk.
Why ever did AZ agree these lender-friendly/shareholder-unfriendly terms ?

'It's a mystery'.

.."the collateral will be returned to the AvantGarde Group in shares OR CASH (this option has been negotiated in order to avoid any take over risk), at the choice of the borrower..."

If I were AZ /1AF2/TAG- and wanted 'to avoid any takeover risk' - can someone explain why choosing to accept cash (and therefore leaving 5.9 billion shares/then 18% of the Company OUTWITH your control) would be a solution ?

It actually seems to make the possibility of a takeover somewhat more likely....esp if said shares are/were still in the hands of the 3 original lenders.

Haven't said this in a while, but 'It's a mystery'.

PS I see that there was a further RNS 4th Aug 2021 10 days after reporting their initial holding at IPO, when Schroders said they'd gone below 5%....and now they've gone back to their identical, initial holding...

At a substantially lower 'buy in', one has to assume.....;-<

Can some kind person explain yesterday's announcement from Schroders , a TR-1 advising that it held 5.128388% or 25,641,941 shares in POLB, having previously been 'Below reportable threshold' ?

The last TR-1 10 months ago , 23/07/2021, had the same co, Schroders, reporting an increase in its holding to ABOVE the reportable threshold...and that it then held the SAME number of shares as NOW, viz 5.128388% or 25,641,941 shares in POLB.....

AFAICS , there's been no increase/change to warrant this update.

I'd normally give a co the benefit of the doubt and assume just some kind of admin glitch (around the reporting/reportable levels, maybe), the cynic in me is left wondering whether this is a marketing ploy to suggest there's some greater institutional interest in POLB nowadays.....

What do others think ?

Hi CF73,

Appreciate your efforts to rally the troops and glean whatever positive news is available, but referencing an article that talks of an 1,800 Mw power station up and running in 2023 doesn't help matters, IMO.

ATB

From https://www.maritime-executive.com/article/philippine-coast-guard-stakes-out-sovereign-markers-in-s-china-sea

.."In an interview with local media, Philippine Coast Guard commandant Adm. Artemio Abu said that his service has installed navigation and traffic-monitoring buoys near Lawak, West York, Parola and Thitu Islands in the Spratlys. The 30-foot buoys were built in Spain, and in addition to standard beacons, they carry satellite-connected instrumentation for monitoring vessel traffic...."

There's that Spanish connection mentioned in the Indonesian Blue/Green books , for a system unrelated to the Bakamla contract SRT is pursuing....

Ho hum

Are SRT's initiatives in Philippines (and prospectively Indonesia , etc) about to be 'overtaken by events'...or given a boost ?
https://www.firstpost.com/world/explained-quads-plan-to-check-chinas-illegal-fishing-and-the-role-india-will-play-10706981.html

Seems that the Quad may introduce a new level of political urgency into the MDA and IUU fishing issues...but will this necessarily work to SRT's advantage ?

PS I only happen to know this because our most valuable family heirloom is an 1860's ship's chronometer, presented to a forebear captain by the grateful underwriters.
This was for having jury-rigged a storm-damaged rudder (avoiding the need to put into harbour en-route) and getting a tea cargo delivered in a timely manner in England.....

Hi DYOR2,

Not 'jerry rig', please ! Wires slightly crossed :

.."Traditionally, to jury-rig means "to assemble for temporary, emergency use; to improvise," whereas to jerry-build means "to build shoddily, flimsily, and cheaply." The connotations are different, with jury-rig emphasizing the impromptu nature of the construction and jerry-build its inferior nature..."

I don't think HUR will economise on a solution !
ATB

Hi Mark-k,

Thanks for the solid re-cap.

The RNS issued 27 April says .."It now expects to publish these *Accounts no later than 31 May 2022* utilising the FCA' TWO MONTH [my bold] temporary relief from reporting deadlines due to the impact of the Covid-19 pandemic..."

Like many, I've been working on the basis of SYME updating the market NLT 31 May, worth noting though that this is actually another voluntary commitment by AZ : Accounts only have to be released - strictly speaking- by 30th June to remain compliant with the Transparency Directive.....

Let's see what happens.

Bouchos,

The slight problem with all this is that TradeFlow's Funds are successor to an earlier version, managed by the same folk, that didn't succeed commercially, see

(1) NR Capital Pte Limited ("NR CPL") has gone into insolvent liquidation,see
hxxps://www.sgpbusiness.com/get-pdf/eg/5af32281-8a7e-11ec-b068-f48e38c3a128.

(2) This is the fund management company that TomJames and John Collis used to create and run the USD fund [ the Euro fund came later] now managed under the TradeFlowCapital Management Pte ("TFCMP") label, as shown by Tom James's sgp linked-in
hxxps://www.linkedin.com/in/tgjames/details/experience/

CEO & CIO - Commodity Fund Management
NR Capital Pte Ltd·
Full-time Apr 2016 - Aug 2019 · 3 yrs 5 mos
Singapore & London
Fund Management in Commodity Markets.

(3) Although NR CPL was set up in 2016, its first fund wasn't launched until mid 2018, see hxxps://www.gtreview.com/news/asia/startup-trade-finance-fund-nr-capital-partners-with-bolero/, inter alia, from article dated 31 May 2018 :

.."The Singapore-headquartered company – which is set to announce its MAIDEN transactions imminently – offers funding solutions to SMEs in the bulk physical commodity space...
The company took its platform live in January 2018, after two years of research and testing.."

(4)The NR CPL/TFCMP overlap is acknowledged in this legacy document
hxxps://tradeflow.capital/cemp-nr-capital-trade-flow-fund-sp/cempnr/.

which is the first of your links.

As I've said before .."All of which tends to suggest that the management team have had their ups and downs ...and that TradeFlow isn't as far down the track as some may have thought. It looks as though NR CPL failed , for whatever reason, to reach critical mass/profitability.

These facts are consistent with the relatively modest AUM ; funding resources ; and earnings reported to-date.

They'll be useful for context when we get some updated 'hard' numbers on 'new' TradeFlow..."

HTH

For balance : Burnley an lse poster since Nov 2020, castle an lse poster since 2014; neither seem to post on any other co.

.."the 20-40 posts per individual, per day, 7 days a week, bashing [OR RAMPING] of SYME by a small group of posters here. That isn’t just someone providing their opinion it is an orchestrated campaign. Would you agree?..

With the above qualification, yes, I agree.

.."If not invested your opinion means nothing..."

Classic !
(1) I'm not yet invested, but am thinking about it ...what is my opinion (prev. 'worth' nothing) now worth ?
(2) I'm already invested, but thinking about selling ....is my opinion (until now 'worth' something) now worthless ?

It used to be that only people who owned property (outright) had the vote.....

Tools are the artisan’s lifeblood, the IM equivalent is the flow of material a business uses, up to and including end product.

Plenty of Swiss watch craftsmen unexpectedly/ suddenly became poor credit risks with the advent of digital watches.