Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
To me, it’s no coincidence that AZ’s massive conflict of interest with his debt to DW is part of this.
AZ’s exit fee to DW is linked to the share price. It’s in his best interest to have a low share price to pay him off and then deliver everything afterwards (causing a much bigger share price so he can somehow settle the massive 63m debt he owes). The 1af2 accounts were published the other day (coincidence Tom and John have quit shortly afterwards) and the conflict of interest is so blatantly obvious I have no idea how he’s getting away with it.
I won’t be selling my shares because I’m convinced this is what he’s doing and I’ll get my money back eventually, but sadly this is all for the wrong reasons. He’s also doubled up on this by settling the TFC acquisition in shares at 25 times the current share price. So he’s generated cash for SYME out of thin air and PI dilution basically. It’s unbelievable - it’s like it was his plan all along. I genuinely think he’s had this all ready a long time ago but the exit charge would be far too punitive to not have it settled first.
Again, keeping my shares because if he’s been cunning enough to do all this, he’ll be cunning enough to do the opposite when it’s in his best interest. The conflict of interest is staggering and rather absurd. How can it be allowed that a CEO is financially better off by smashing the company to pieces!
Yeah doesn’t say that at all bob. All I took from it is that AB is still flying the flag and it was evidently a decent talking point at the conference (which at the very least is reassuring).
Not expecting much this year, personally. It’s really good to see SYME getting a lot more coverage these days though!
Discussing SYME on LinkedIn post GTR event
https://www.linkedin.com/posts/exporta_manhattan-new-gtrus-activity-7003411854781751296-golE?utm_source=share&utm_medium=member_ios
Is going nuts! Can’t keep up with all the PR over the last few days.
Not to mention the odds of decent revenues have gone up dramatically ever since the company told the market it got rid of 3.5m quids worth of runway, by choice and not necessity.
It still isn’t guaranteed but Friday’s RNS was a strong message to the market. If there are no revenues by March/April (as you say), then the share price will be much lower by that time, and the company would be better off issuing shares to Mercator now (avoiding dilution next year at a more punitive share price whilst incurring more fees under a new arrangement, and keeping the money.
It says to me either we’ve got good money coming imminently or they at least think the share price will be in a much better place next year to make a new share issue more attractive. However, the share price isn’t going anywhere without revenues and the company know that. With that in mind, Friday’s RNS only indicates one thing.
I don’t think it’s a coincidence this all starts happening at the exact same time that DW and AZ seem to have come to some form of agreement but hey ho, we are here now and we look forward, not backward.
This has been massively derisked over the last few months, with IM happening and the financial structure being in a much better place (including traditional loans from a large bank at an attractive time interest rate).
Something must have changed and I for one am feeling very positive.
Haha, brilliant.
You’ve said it countless times on Share Prophets! ‘My letter to the FCA about the fraud Supply@Me’ etc etc
Was just wondering why now is the time to suddenly change your tune - seems a bit too coincidental.
It was a crap buy at .8 - I’ll give you that!
Calamari/Tom. You have a fair point about the investment being more compelling at these share prices and it being overvalued at .8p, but your conviction has always been that this is a fraud/scam. You’ve written about it many times, explicitly saying it’s a fraud. Are you saying you no longer think it is?
Share price levels are irrelevant if you think it’s a con or a scam. Quite the change in heart all of a sudden, interested to know what it is that changed your mind?
Don’t lend £1m to companies at half decent interest rates if they have no chance of revenues.
Nobody can say anything other than this is a vote of confidence.
Jonesrichard’s presence normally precipitates a 90% crash. I do hope this time it’s different!
aPunter - as predicted…
It is no coincidence with the timings in my opinion. Crazy week ahead next week.
Best interview he’s done to date.
Huge improvement. Informative and surprisingly quite concise (for AZ).
A lot of good stuff happening now.
Hughez*
Higher give it a rest man. I’m bullish on SYME but you’re really annoying with the spam.
Yes Peak - the strange and suspicious attack on the company across forums had some merit and effectiveness over the last 2 years (wonder who ultimately benefits from this - perhaps those who know they have to buy shares again at a later date).
Anyway, this period of time is coming to an end and the strategy will have been fulfilled and the mistakes of the past are being rectified. It is changing - should be over soon.
What I particularly liked was the honest explanation of funder decision making and where we are with the delays.
It’s also good to have on record that CB etc all still in play just haven’t fully developed or materialised yet.
There are plenty of interested parties and some great tier 1 institutions named that have been part of discussions at the very least.
A lot to look forward to.
Are getting*
Watched the AGM last night. Was away so couldn’t attend in person unfortunately.
It felt very mature, more sophisticated, and honest. For the first time it feels like shareholders aren’t getting some deserved respect.
Implementing good governance and a strong starting point is the first part of recovering company value and it feel like this has been achieved.
There are some good, capable people working at this company now and it’s our job as shareholders to let them get away with it. No point getting involved in back and forth with people you don’t know on the internet. They have shown themselves to be proper outfit now.
To be honest it wasn’t really a company structured to deliver before, but I think it is now.
Working with Walmart China on food traceability.
Few case studies in this article. On their LinkedIn profile they’ve also worked with BMW and many others.
https://www.prnewswire.com/in/news-releases/far-more-than-walmart-china-how-vechain-leads-blockchain-adoption-in-the-food-industry-around-the-globe-825926512.html
It’s so painfully obvious what AZ is doing. Everything now nicely and perfectly lined up for the end of July.
I will eat my hat if that is merely a coincidence. Exactly two years on from the last major rise, exactly at the point the loan shares will need buying back and the 2 year period is up.
My shares are staying right where they are.
We now have a POC to please the funders, which will allow the rest of the portfolio to be executed whilst he asks the stock loan cos for c. 15% of the company back. It is ludicrous but clear as day now he’s planning a ‘big event’.
Purely speculation.