Member Info for Hartlebury

Parm - think about it, the FCA is not going to confirm that it is investigating anyone. There will be investigations happening all the time and sometimes even the company itself won’t be aware. Some will complete with a private censure and no one outside of the FCA and company will know. Others end in public censure. Many will conclude all is in order. If I was CEO of such a company and FCA disclosed an investigation, immediately followed by a drop in SP or business I would sue them for the damage caused.

I stated that there’s a stage of checking before investigation and that’s where we are likely to still be?

Companies House is not FCA/LSE. If late accounts are filed then a company is fined by CH, does not affect trading of shares.

Interesting...could it be significant that the Middle East was mentioned second (after UK)) in the list of NCYT’s 4 biggest markets in the TU? If I were making a list of biggest customers they would be in size order...

However I don’t think AZ would be volunteering the fact that he is answering FCA queries as this would just give credence to TW and worry shareholders

Chalker I said that, there’s every chance they are still at the checking stage rather than an investigation.

My background with SYME was that I initially invested in September then got spooked by reading this board, by the likes of Ex and Holly but also by the insane ramping posters frankly sounding like a cult. I jumped out feeling like it was too risky for me. Then when funding started to appear more likely and reputable names were being associated with the company I reinvested, although well aware that as a new fintech it was still the riskiest share I owned. My thoughts as to what is happening now...and it’s nothing to do with companies house or AZ choosing when to have the shares restored to trading:

We know that the FCA have allegations of fraud from TW. It would be negligent of the FCA to dismiss these out of hand, they will need to review to see if there is any basis to his allegations.

So FCA has a quick look at the company; there is a complicated web of shareholders/brokers in the RTO, DW, (who doesn’t exactly have a sparkly clean history) at the centre. Accounting treatments have been chopped and changed and the reference dates also changed at last minute. Not saying that any of these things are necessarily a significant problem but the optics aren’t good and are likely to invite/require further checks by FCA. If they are not reassured, then and only then would a formal investigation be launched and only the FCA and the company would be aware, we would NOT be informed.

We have no idea how long the ‘checks’ may take, particularly due to covid slowing it down, so it’s impossible to say that we’ve passed the point where an investigation must be happening but the longer suspension continues the more likely this is. The FCA do not like keeping stocks suspended for any longer than absolutely necessary, there must always be a very good reason for a suspension to be in place.

If there is an investigation and TW is right then this is not coming back and we are screwed...HOWEVER...if it comes back then everyone can take it that TW was talking c*** all along. If I was a shareholder with doubts this would reassure me to hold , if I was someone on the sidelines contemplating investment this would give me comfort to jump in on restoration. So to everyone loudly denying that there is any kind of ‘look’ or ‘investigation’ by FCA I’d say that it isn’t necessarily a bad thing.

In the meantime, whilst the share is suspended let’s all hope that AZ is getting the funding finalised as this really is critical for the business now, they need to get moving. The suspension might turn out to be a gift (thank you TW) of time to do this without the SP dropping due to delays.

Saintropez I think the difference is the control plates, 3 out of the 96 would be controls with 93 samples

I can’t see how picking and choosing stocks would work from SYME pov. There could turn out to be an imbalance in popularity in time which would surely restrict SYME’s ability to continue taking on clients in particular sectors? I would think the funder has to trust in SYME due diligence wrt originations. Will be interesting to hear AZ answer.

Also I’d say most companies file their accounts weeks or even months after release by rns, not at the same time.

It makes sense but I still don’t think that the FCA would concern themselves with a breach of CA rules, their focus is on sufficient information in the market for the sake of investors. It would be good if you are right and they get restored once accounts are filed at CH though, assuming that is soon!

It’s been pointed out before but CH filing has no link with rns of financial statements. The rns should always come before the filing because otherwise you would be releasing psi via a channel other than rns, but the FCA do not check or involve themselves with CH filings.

Sorry, linked twice

More symptoms are to be added to the list to prompt people to seek a test - which will increase PCR testing further

https://apple.news/A9QscfYvQRqmBTtQMka1DMA

https://apple.news/A9QscfYvQRqmBTtQMka1DMA

Happy Birthday Surfie

And your question suggests AZ is controlling suspension to this end - he can’t.

Why? Going through the whole process of fundraising - (spending £1.2 on this btw) and listing to then remove access to further funds if required..?

The benefit is that it buys AZ time to secure funding, avoiding shareholders getting get fed up of waiting and starting to dump shares, however AZ has no control over when the suspension is lifted. He would (or should) have known the suspension would happen when they changed the accounting reference dates and immediately put the co in breach of rule for reporting financial results, but he could not have foreseen suspension continuing once the accounts were released.

No, I don’t think that is the case, any invoices issued in 2020 would be included. What might be the case though is that due to apparent delays with take up of Q machines (which promate should have got moving again), the invoicing that was expected in Nov/Dec will be happening now.

Hopefully yes, but still no deadline.