The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
She's going to think it bloody weird that a load of investors are checking out her LinkedIn profile but.... does seem she's left.
Latest role with SYME has an end date of Jan 2024. LinkedIn has the "Date To" as "Present" while you're still in role, so either she's inadvertently put an end date on her time at SYME (contract role, but doesn't really make sense/would be a very long contract?) or she has now left... Given she can't make a post on LI without turning the comments off for fear of investor backlash, I can't say I blame her.
@GH - OMNI TR1 was significant as they dropped below the 3% disclosure threshold. They are now free to sell their remaining 2.9% without further disclosure (which the SP action would suggest they are doing).
@Luckybob23 - Who did you contact at the FCA? As individual PIs, I agree, we're largely powerless - we buy, we sell, we take our profits, we take our losses. Ordinarily we shrug our shoulders and move on. That's the name of the game.
As a collective, it's very different. Can anyone honestly go back over 3.5 years of RNS' and Proactive interviews and say hand on heart that we haven't been lied to, misled and induced into bad decision-making? Why have the so-called detractors called this so right from the off?
Of course I am. But if scorned investors don't start making a noise (we've already shown our inability to call an EGM despite an outrageous series of overpromising and underperformance), who is going to police those who think they can brazenly shaft investors for personal gain?
At the time of writing, the share price is:
- An alarming 46% down this month, after our big Eureka WL moment.
- 73% down over the last 6 months.
- 54% down over the last year.
- A staggering 97% down since listing.
- And - arguably, the relevant stat - 94% down from the 0.5 levels I'd wager most true long term holders started buying after the August 2020 iMass MOU pump.
The company is now worth 65% of what was paid for TFC (remember those CLNs we all suffered to help fund that failed venture?).
The only people left trying to ramp this are the Johnny-come-latelies who've bought in recently for a quick trade, and I'd wager are likely already getting desperate and on the verge of closing the trade and taking a far smaller loss than the LTH's who are so far underwater they can't bring themselves to sell.
Just how bad do things have to get before the LTHs who are 50, 60, 70% down start making themselves heard? What does the SYME Exec Board have to do to make investors angry?
Thanks ns20 - the "led by" is highly ambiguous, and I guess can be interpreted in different ways. Too use a relatable example for my simple brain, it's a bit like Tesco being described as leading the likes of McVities, Heinz and Unilever, which is obviously wrong. They're either subsidiaries to Carrefour, or they're not. Supply@ME shouldn't be name-dropped companies if there is no direct involvement.
I will update if Carrefour or AZ decide to respond and clear up the confusion.
Please see RNS dated 28th September -
"The thirty Italian Client companies that form the first Inventory Monetisation portfolio will be notified that their target completion date is the end of October. This portfolio comprises corporates of various sizes which form part of supply chains led by the following companies….
….o Carrefour: a French multinational corporation specialised in retail….
…..The first Client companies within the new operating regions of the UK, UAE and US are currently being analysed in partnership with local partners and inventory funders. Specific updates will be provided on each of these operating regions in due course.”
Definitely Carrefour in the business operations update, unless there was a subsequent RNS correcting this blunder?
on the 28th september 2020, syme released a business operations update which included, amongst other things, announcement of the company's first inventory monetisation portfolio. this was in response to numerous investors clamouring to know the identity of some of syme's numerous clients at the time.
this was huge - i vaguely remember childhood trips to france on le shuttle which usually included a stop off at a french hypermarket to pick up my dad's dunhill international, and somewhere in the dark recesses of my brain the name carrefour resonated. around this time, syme were making big noises about their first portfolio which we were told was in the hundreds of millions, and even cheekily tweeted on 20th september 2020 in response to rolls royce's plight to raise funds: "available to support rr!" rolls royce and carrefour? i was already spending my millions, which at this rate would arrive in the form of dividends and i wouldn't even have to sell my holding!
*************, the website belonging to esteemed financial journalist and stock market guru tom winnifrith, noted at the time that carrefour were an unlikely candidate for inventory monetisation, given they had ready access to financing at 2% (instead of 6% as syme's model was/(is?) at the time), and that given the payment terms of their suppliers, were completely unsuitable for inventory financing given they sold much of their produce before they were required to pay their suppliers. despite numerous telephone calls to carrefour, share prophets were regrettably unable to verify that carrefour were indeed a customer of supply@me capital.
were we being lied to in 2020? were supply@me anywhere near ready to complete inventory monetisation for their first portfolio? were all the clients listed in the business operations update of september 2020 actually clients of supply@me, or just random names plucked from thin air? did supply@me ever engage with rolls royce? were carrefour ever a customer of supply@me? have carrefour been patiently waiting for the opportunity to participate in supply@me's white label arrangement?
who knows, but i've dropped carrefour and their ceo alexandre bompard an email, so hopefully the confusion can be cleared up.
That SYME are at least talking to BPM. After 3.5 years here, I'm very mistrusting of anything the company announces.
Defamation apparently (it wasn't). If he considers a politely-worded email defamation, heaven forbid he go on Twitter and search the hashtag #SYME.
More or less at ease than when SYME named ISPB, iMass, Lenovo, Stormharbour or DP World?
"Binding agreement" provides me no comfort whatsoever - especially when the initial agreement is for such a small amount. Given the share price is 50% since the WL "binding agreement" with BPM was announcement, it seems as though the market would agree with this perspective.
I have contacted BPM asking them to endorse the RNS of 3rd Jan, and while BPM has declined to respond as yet, it did prompt a few thinly-veiled albeit nicely-phrased threats via LinkedIn, which would imply at least there is some grain of truth to it....
What's to say? Every initiative ever announced by the company hasn't come to any meaningful fruition, and when you start to do a post-mortem on one's investment, it's depressing. FWIW I disregard the conspiracy theories, and I do think AZ for all he has done means well, but he has absolutely shafted private investors and has overstepped the line in terms of communicating with investors and outrageous promises ahead of significant falls in the share price.
Of most concern:
- Tradeflow. In hindsight, this purchase was a baffling move, and the de-merger an even more baffling one. The seemingly bloated valuation of £31m needs scrutiny in my opinion, as this does not stack up.
- Non-release of news to the market - Captive Bank and Shari'ah as two obvious examples where we've been given indications of something that would happen, only for news flow to go quiet. News should be RNS'ed, whether good or bad, but there seems to have been intentional withholding of bad information at certain times, presumably to support an inflated share price.
- Outrageous statements - "Ready to fly" the most famous and public, but the numerous LinkedIn messages shared on Telegram implicating good news/good investment points etc., only for the share price to fall.
I'm old enough and ugly enough to accept losses in the market, but I'm struggling to accept losses where I've been treated unfairly as an investor because I simply haven't had the relevant facts at hand.
I'd suggest it is time for the genuine LTHs who've been wronged by this company to stand up and make a very loud noise.
Significantly 0.32 (not 0.032) is when the CLNs to pay for Tradeflow were announced and the share price nose dived. I wish I'd had the sense to sell then. How long will our regulatory expert take to get us to 0.0032?
@TheChosenOne24 - I wholeheartedly agree with your sentiment re.: attack the share, not the poster, but you could try and be a bit more discreet about your overt ramping. We all get it, you're here for a trade and have recently bought in, but please remember there are some investors here who bought in at 0.2 or 0.3, so calm the tones as AZ would say.
It's a risky strategy, FWIW I'd say desperate even, but presumably you're hoping for a dead cat bounce before this recedes into the ether.
How do we know they have?
Interesting we didn't get a soundbite from Banco in the RNS, nor any announcement made by Banco. Might they be added to the long list of third parties SYME claim a business relationship with that delivers the total sum of naff all?
£500m inventory to monetise?! There's optimism, and then there's blind naked ramping. That falls firmly in the latter camp.
Most of us LTHs were waiting 3 years for £500 to be monetised, then at the first sign of each initative/funding model the trail goes cold. SYME has had its HE1 moment - it did the big rise before it was trendy - now it needs completed, signed off deals to begin to see a rise. The fact the SYME board have gone into hiding and now ignore investor emails, Collis and James are MIA and AZ still hasn't learned to pen a factual RNS minus a diatribe of waffle doesn't bode well.
Into the 2's would put SYME's market cap at around £18m (if we take the midpoint at 0.0025), so approximately half of the £31m paid for Tradeflow. If we take SYME's continuing holding in TFC as 19%, and assume the £31m valuation was fair, then nearly £6m of that MCAP is based on TFC ownership, leaving the MCAP of SYME at a paltry £12m, below what it was even in early August 2020 at the previous lows before dilution.
Anyone who has held here for longer than 6 months has been well and truly done. Why aren't LTH's angrier about this? Why hasn't an EGM been called? Maybe AZ should update the ticker to #SYMP.
SYME did 1700% in 3 days, so why not?
Because:
- Market trust - AZ has destroyed market confidence in SYME by repeatedly releasing news with no follow-up. There are too many cliff-hangers and open-ended initiatives to list.
- PI holdings - the vast majority of investors in SYME have averages much higher than the current share price. There will be a mass scramble to sell at the first sign of a spike - the +40% days would appear to be behind us.
- The volume of shares in issue has increased dramatically, such that an increase even to 0.10p would give a market cap of £61 million, which would need significant revenue to support.
- It could be argued the WL tie-up with BPM is significant and could drive revenue, however WL % earnings are lower than traditional IM/other models. There are a number of unfinished initiatives, including Shari'ah which to all intents and purposes from the RNS given was ready to go with a willing funder over 2 years ago and has yet to come to fruition, so why should this latest WL announcement be any different?