Member Info for HenryA59

Are you suggesting another court case would be good - wouldn’t this take years to conclude. And then thats uncertainty for too long for shareholders

The real advice would have been the EPA

Sorry but anyone who has used a KC knows you can shop advice - if one doesn’t give you the advice you want to hear go to the next

But its not the EPA and many other KCs would conclude/opine the opposite. So back to square one

SP will continue to slip unless and until we get a trading update which shows a demonstrable increase in sales and a break-even/profit run-rate. For the SP to then properly take-off needs Indian certification - which is taking a ridiculously long time and this slowness is also a concern. An update on progress would be good especially as the CEO expected consent in Q3.

The new investors at 20p must be sweating - I wonder if they are happy with progress and matches their due diligence.

Convertible loan is expiring very soon so some news on how management propose to deal with this would be useful. If this is allowed to convert then it will create significant dilution for the new 20p shareholders, surely its another extension or repayment but a repayment would utilise monies from the placing which were pinned for growth/projects etc not a refinance.

News voids are bad for SP and pressure must be growing on the management team to deliver something given the continual undelivered promises.

Well you were right, an after market RNS. Explains the slip in the SP as people close must have been aware of this as there have obviously been discussions with the EPA to get to this point. Back to square one with the EU.

They need to start delivering on what they say and then the SP will increase

Nearly the end of Q3 so Sym are probably waiting as long as possible to know trading performance before issuing interims. Hopefully we will get some insight into most recent trading and possibly progress with key projects 👍🙏🤞

I agree. Lets hope for an early surprise 👍

Just re-reading the prelims and the chairman’s report says India certification expected Q3 but the CEO’s report says 2025. I wonder if this was sloppy drafting and India is expected sometime prior to year end. The current SP suggests its not imminent as those close to insiders would be placing their bets

The convertible loans need to be repaid by the year end or they will convert at 80% of the average price for October, November and December and based on current SP thats not looking very attractive. So repayment is probably best option here if possible; existing cash from 20p equity raise (would need to be short term as this was probably earmarked for other projects), trading (not long to generate some big ticket sales with cash coming in prior to year end although invoice discounting could be utilised) or SP increases significantly and place shares with a friendly investor.

Its getting tight so expect the pressure to be building within the management team

12 June 2025 - Prelims and Chairman’s Statement: para 3 after bullets.

“Finally, Symphony India is expected to complete its lengthy certification process during Q3 with commercial sales starting by year end 2025. “

But India is slow and bureaucratic so here’s hoping that Indorama have some level of insight to the process and timing.

And Indian certification is within Q3, so hopefully anytime now 🤞

Well the AGM was a bit of a non-event and mainly repeated the Ireland/EU news plus a throw away that orders expected for Q2 have slipped into Q3. Strange that the AGM wasn’t the normal 21 day notice for such little update. I still think India certification was expected and so hopefully is now very close just didn’t happen before the AGM but that is dealing with India and bureaucracy

Or maybe the larger buyer has stopped buying as its getting too close to an announcement with the AGM next week.

And maybe some smaller investors close to any transaction nibbling as no one is going to look into these small purchases

The last two days are giving me a little more confidence that something is due to close prior to the AGM.

I think you also have to assume news at any time as the

Company has been very vocal about the prospect of news flow.

Interestingly, the normal notice period for an AGM is 21 days and looking back the company gave exactly 21 clear days between notice and meeting for 2024 and 2023. This year however it has given 34 days notice - an additional 2 weeks effectively.

Theory

Looking back at the RNSs, there is an RNS dated 11 March re Intertek report stating ZERO microplastics.

I assume this was required by the Indian authorities re their certification application. Assume this was reviewed by the relevant bodies and they required more detailed on the residual. Intertek then get commissioned to do a more detailed assessment. RNS dated 10 April states the findings, which are positive and this gets submitted to the Indian authorities.

Assume this then commenced a 3 month clock for the certification process, this would give an end date around 10/11 July - i.e anytime now.

This is this interesting part - the notice on 18 June with 21 clear days, would give an AGM meeting date of 10 July. i.e Today [ potentially the same date roughly as the possible Indian certification process].

Because its India and things can take longer, they have added an extra buffer of 2 weeks.

The above is just a possible guess but it is strange that the notice period for this years AGM is much longer than the statutory and the company’s normal.

Here’s hoping I am right

Yesterday

Two 300k trades at 13p showing after close, timed at 11am

Just huge spread as MM control volume and pricing