Member Info for extrader

Hi all

As at 12/19, GLEN reported 1.26 billion shares in Treasury, twice what it was the year before. Which suggests that they feel or felt that the shares are undervalued.

GLEN s/p is £ 2-50 roughly; ZIOC has 300m shares approx.

I can't see 2:1 myself, maybe 1: 2 ?

By virtue of the Promoter sales at IPO, where they recouped a large part of their outlay, I reckon that our principal shareholders have a negligible cost carry.
GLEN's shareholding comes via Xstrata and its investment cost has long since been written down/ off : the value of Zanaga on GLEN's books is likely also negligeable.

At £ 1.25, Elphick's 80m holding would earn him £ 100m.

A 1 GLEN : 2 ZIOC offer would use 150 m , barely 10% of GLEN's shares in Treasury, and value ZIOC @ £ 375m , Zanaga @ £ 750m, a useful reference point for any meaningful discussions about Zanaga spin-off.

IMO

Hi Johnrambo,

.."Clutching at straws boys.."

You must have put as much thought into this contribution as you did in last week's gem :

.."I was looking into the old crystal ball today it told me big things are so the way so it is sonny

I've never filtered before, but there's a first time for everything.
Congrats !

Gets even better !

CF says that facility refurb was paid for by client in a hurry...

https://pbs.twimg.com/media/EtSa4VwWYAME2FH?format=jpg&name=small

Canny move, Cathal !

Hi all,

Just as an FYI, I've been invited back by Imperial as a focus group member for a Zoom hookup looking at 'the ongoing planning for the human challenge study with coronavirus' this Thursday evening.

The context is "the scientific reasons for doing this study in light of recent developments including COVID 19 vaccines......you will have a chance to ask questions and to discuss whether it is still important to do this research in light of the possible risks..."

Will provide any feedback that might be relevant.

These are the rules relating to suspension :
https://www.handbook.fca.org.uk/handbook/LR/5/3.html;

and these are the rules about restoring a suspended listing :
https://www.handbook.fca.org.uk/handbook/LR/5/4.html

SYME has apparently cured the technical breach by producing the accounts and we have been told that they requested restoration last Friday.

5.4.4 describes the circumstances where FCA may not accede to the request.

HTH

I'm not on twitter : could some kind person forward Treacy's twitter and the BioServ capabilities to the Minister(s)....Bethell and Zahawi.
Seems obvious, I know, but still...

If it's on their public twitter feeds , we might get some 'Action this day !' as BoJo's hero used to say.

;->

Hi WoW,

You might want to look at SVE, which AIUI gives indirect exposure to GGP at a discount....which would give you 'optionality'.

NAI, DYOR, IMO etc etc

Hi Glib,

.."Ex and Cali were saying that funders were asking for security before committing .."

Can't speak for calamari, but (a) I didn't say that that was in the RNS and (b) if you go to the Proactive 30/7 recording, you can listen to AZ at about min 2:00 and make your own mind up.

HTH

Thanks, Sportstrader !

Ironically, it may be that ORPH gets recognised by Joe Public more for selling a 'less invasive' 3rd party test than for all the 'original' work it's doing.....

;->

Hi Sportstrader,

Great link, tks !

I had a root around BioServ, which eventually led to a US controlling interest (StoneCalibre LLC) do you happen to know what ORPH's commercial interest in BioServ is ?

TIA

Hi Glib,

2 things :
- StormHarbour is an arranger , not a funder.

- in your C + P of the RNS, you missed out this bit :

.."discussions are in place with a number of Insurance Companies in order to create a financial guarantee in favour of the Inventory Funders through the Platform..."

This seems to suggest that prospective funders (some of them ? all of them ?) are asking/have asked for extra security before they'll commit.

What do you think ?

ATB

The lenders have 17.99% of SYME stock, what's their position ?

THAT would have been a good question to put to AZ for his upcoming interview , rather than the mostly soft-ball , close-ended stuff he's been asked.

IMO

The Fool article mentioned Metro Bank, with 15% short....and seemed to be saying that was an outlier for the UK.

This is a selection of US 'most shorted' as of last Weds, you can see they do things differently there :

Filter : Market cap $500M+, Short % of Float 33%+

Symbol /Name/ Market Cap/Short/ 1 month return
(apols for formatting)
GME GameStop Corp $10,321 261% 634%
LGND Ligand Pharmaceuticals Inc $2,523 106% 48%
DDS Dillard's Inc $2,298 105% 83%
AMCX AMC Networks Inc $2,467 94% 82%
MAC Macerich Co $2,909 88% 79%
BBBY Bed Bath & Beyond Inc $4,469 84% 98%
SKT Tanger Factory Outlet Centers Inc $1,501 71% 55%
PLCE Children's Place Inc $1,017 65% 40%
SPCE Virgin Galactic Holdings Inc $9,854 64% 63%
IRBT iRobot Corp $3,555 63% 47%
FUBO FuboTV Inc $2,967 63% -1%
FIZZ National Beverage Corp $6,040 63% 47%
SRG Seritage Growth Properties $1,036 62% 23%
SPWR SunPower Corp $9,175 57% 81%
SBGI Sinclair Broadcast Group Inc $2,397 55% 4%
SBH Sally Beauty Holdings Inc $1,788 53% 25%

BBY and FUBO seem to be the favoured candidates, apparently there's a 'familiarity/sentiment' angle that is one of the ingredients in the mix, alongside 'fundamentals'.

NAI , DYOR, FYI

Hi moniman,

.." let's not forget he owns 45,965,011 shares which I'm sure his wife has reminded him about..."

Yes...but she has a respectable holding herself , either under her own name (Pamela Iyer) or via Raglan Road.
Either way, CF is a 'motivated' player , as the Americans might say.

;->

"Ex, you really do enjoy kicking the ‘Hornets Nest’ don’t you."

Great trilogy ! and Larsson didn't live long enough to see its success ; - <

Hi marlenabadmonkey,

.."Love learning a new word. .."

My word of the year 2020 was 'monopsony' - it's the opposite of 'monopoly' - one supplier - so 'one buyer'.

And usually just as bad : if there's only one buyer , he (or she) gets to fix the price also ...;-<

A good weekend to all.

Stocko has EV of £ 2.11 billion ie market cap + net debt.

"Perhaps Calamari is extrader is TW. Wouldn't surprise me one bit!"

On the basis of the 'forensic skills' that you've show to-date, I wouldn't be surprised at your not being surprised either.

Were you 'invited' to consider early retirement, by any chance ?

See my earlier post,

First loss security required by prospective funders was the rationale AZ gave in the 30/7 Proactive interview when explaining the 1AF2 pledge of 5.9 billion shares to raise indirect cash.

Obviously that hasn't been enough to get a deal done in the intervening 6 months.

Not on the face of it a vet good way of 'monetising' your unproductive inventory of shares. Especially if you don't get the shares back : 18 % of the Company.

And - as to revenue - the interims show a more cautious stance to its offering, which it now describes as

.."Supply@ME provides an alternative platform focused on inventory monetisation (the innovation is that, for customers the transaction is not, STRICTLY SPEAKING [my caps] , a financing transaction)....

This is hardly categoric or, to my knowledge, how SYME has generally described its 'true sale' concept in the past.

Indeed, as recently as 31/12 , it described it thus :

."Supply@ME enables businesses to generate cashflow, without incurring debt, by monetising their existing stock..."

IIRC, Bill Clinton used the same 'get out' to describe his relationship with Monica....