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Gregorio,
Has anyone ever told you, you are very funny man?
I do hope so, because I find you absolutely hilarious.
Key bit for me from the 31st December RNS.
"The Company expects to make these disclosures within the next month once the Inventory Funder confirms its release from the non-disclosure agreement or as required by market disclosure regulations."
Now, we know the first statement has just about elapsed, in the terms of time. We also know there has been large accumulation going on, as per all the late large trades.
" or as required by market disclosure regulations"
Now, the accounts are done and dusted so should/could have unsuspended Friday, if that was the only thing outstanding.
However, I believe there is a TR1 outstanding.
That TR1, I believe, will be in the name on the funder.
As per the regs you couldn't unsuspend without producing this TR1.
All just imo, of course.
Interim accounts tomorrow and trading update, imo.
Maybe more, but that's purely speculative at this stage.
Reopen Monday.
Analyzer,
"The going concern assessment is based on 12 month look forward from 27 Jan 2021 ie on group as it is now and it clearly says in RNS and that states no investment yet achieved. No doubt those facts escaped your attention."
This is indeed correct.
Syme are in exactly the same position regarding funding as they were prior to the suspension.
This is not new news.
The forward look is just that considering the companies current position.
Any progress on that will be notified, by RNS, to investors directly, not stated in a forward look contained within an auditors report.
I really don't know why you would suggest otherwise.
At first it all seems great and very simple, Little Guy vs. Big guy.
Thing is, it effects the whole market, due to money moving into these "boosted" shares to try and get a quick gain.
Lots found they couldn't then sell due to lots of platforms going down. The brokers would have then made a fortune trading between themselves.
Some funds would have closed long positions, in other stocks, to cover the losses on their shorts. These stocks will then, obviously, fall in value sharply due to the sums involved.
Then we have the guys that will lose when the whole lot comes crashing down.
As with all these sorts of things there will be many losers both direct and indirect for sure.
Only thing I will say is that they have plenty of running costs in the bank and products ready for sale.
Therefore, I cannot see any need for a placing in the near to medium term.
Hi Guys,
I posted on here, just yesterday, there's no way the FCA move through their processes so fast.
Even prior to Covid they have procedures, as described above.
It is pure fantasy to suggest TW had anything to do with any suspension.
Been proven many other times to be a consistent liar, this is just another one to add to the list.
From working in the city for many years, I knew a couple of people who worked for the FCA.
Let's put it this way, they are not the fastest guns in the west.
To expect them to even react and contact a company after a day and a half, even pre-Covid is pure fantasy.
Seadoc,
I will add from the Syme RNS:-
"Following the Company's move to the Standard List of the London Stock Exchange, Grant Thornton UK LLP ("GT") declined the invitation to participate in the tender. "
That's all Syme have said.
Notice that there is nothing about "resigning" or anything regarding GTs business strategy.
However, if you research the specialism of GT they concentrate on the sector I mentioned in my post above.
I struggle to see why you have trouble finding, they have even written reports and presentations on their business focus.
I can only conclude that you don't want to find them.
Seadoc,
Suggest you read up a little more on GTs business strategy and focus.
It really is very clear, both at a domestic and international level.
This aligns with anything that Syme has ever said about the matter.
All very simple and straightforward, unless you have another motive for it not to be so, of course.
Seadoc,
"The auditor GT resigned"
This statement is not true is it?
They actually decided not to apply for the tender.
Main reason being is that it is not part of Grant Thorntons business strategy to handle main market businesses.
They handle mid corporates or AIM as they make more money from that type of business.
Last year's one was less fun, AFAIK.
Especially,as the guys who were working on one of the bars and who also lived in the same house all got and undoubtedly passed on Covid....
Two separate things Wolf.
Adherance to Middle East banking regs is the responsibility of the partner.
The Syme product can be made compliant to work with Shari'a clients who, in turn, work with the partner.
It really is remarkably simple.
Correct. Beyond embarrassing.
If anything this proves the flexibility of the product.
The product that is designed to be used by different financial partners worldwide, as per the business plan.
The configuration of said product will allow it to be used by an Islamic partner and be Shari'a compliant.
It's not difficult to understand, apart from, of course, to some disruptive clowns on here.
FFS.
"Look at their accounts, they deal in interest.
Email sent to AAOIFI, will post their reply"
Whose accounts?
As I just said, it's the product that is/can be made compliant to work with Islamic banking.
Very simple, if you have any real underatnding whatsoever.
"So we are in agreement this company is not Shariah compliant, so it cannot Islamically(and logically)
offer something that it claims is compliant. I will be emailing this Shariah Board for clarification."
Good luck with that.
You really haven't got a clue, have you?
The product is compliant for Shari'a use, not the actual company.
It's just the same as HSBC having Shari'a compliant products, it's not HSBC as a company that requires the compliance.
Please try harder in future.
Millfield,
You've gone all cuddly/user friendly, what happened to inspire this change?
Glad to hear you aren't running a spreadex short, I would hate he idea of anyone getting burned, the idea of anyone getting burnt by city spivs makes me also feel sleep uneasily.
You are yet another offering selfless "investment advice" with no position, out of the goodness of your little heart.
My advice is don't bother in the future and let grown ups make their own decisions?
That will take a massive weight off your mind and you too will sleep easier because of it.
HTH.
Brings Syme into line with main market.
I've known they were planning to do this for a while, prior to board agreement.
It's neither good news, or bad news, regardless of what anyone says on here.
Sergey,
Ramp, Deramp, rinse and repeat.
That's how you work.
Agreed Poor.
Personally I'm more interested in the amount and the sector breakdown, for each country, myself.