Member Info for richred_uk

No, not 600m outstanding after the but back, the company has 5.8 ish billion shares in issue. They are allowed to buy back 600m if they can afford it for 200m cash, they will likely end up buying back about 90m shares as that will be what the market price is. They will end up with 5.75 billion shares in issue very roughly.

600m is the maximum that the company can buy back (I'm not an expert, but I guess it's part of their authority granted or the company's articles, as it looks to be 10% of shares in issue). They could only do that with 200m if the share price absolutely collapsed, but it is what They have authority to do. No one expects them to buy back 600m shares for 200m cash, but they legally can if the opportunity was there.

RTOP's auditor resigned 1/7/24 and they still haven't announced a replacement. I guess they might be more efficient if AZ is looking to get an auditor for both companies - 1 search, 2 appointments.

But I really guess he will struggle to find a firm for either company.

Che TG2D to tell everyone that the risk was Syme was about to become too big a company for Crowe to audit and that this will be a great thing. Rather than a decent sized firm assessing the risk of not being paid, or of reputational damage.

What will the exponent be?

Suspension RNS: "The Company intends to apply to the FCA for a restoration of its listing following receipt of $2.5m in funding and publication, expected to be on or shortly before 31 October 2024, of the Company's annual report and accounts for the period ending 30 June 2024."

2 Months to go until the intended application for re-listing, 2 months (give or take) since suspension.

From the suspension RNS:

"the Company is in advanced talks with a new CEO which will be concluded once funding of $1.5m has been received by the Company" - Not seen that happen yet - wonder if the new CEO is still hanging around waiting for the funding or if they have sought gainful employment elsewhere.

From the Auditor resignation RNS:

"The Company is actively working to engage a new auditor to complete the audit for the period ending 30 June 2024."

Not seen this happen yet either and it's kind of key to getting the accounts published by 31/10/24. GFL with that if you haven't engaged new auditors yet.

Just checked with AJ Bell and they are quoting £0.000088 for a tenner's worth online.

No. They don't really engage with traditional FTSE shenanigans like having a set dividend timetable etc so I don't think they will waste time and money on financial engineering. I think they basically see their job to make money and leave the share movements to markets. They don't need access to capital raising for M&A etc, it's just an ownership model.

Oh god we have another one who quotes his own posts from elsewhere and pretends it's a different person

So Fintech Investor is Mr Market. I just wonder when Hughez87 will admit that he is both of them (and other people).

This election got rid of my MP who suffered from having used multiple identities in that past (Grant Shapps, Sebastien Fox, Michael Green, Corrinne Stockheath), would be nice if we could do the same here.

Not sure it's the one that the pump and dump crew wanted people to think was coming though.

Sometimes when companies/ trusts haven't made enough profit in their core business activities, they can designate dividends as interest payments - I most often see this in some of the Renewables Trusts I am in. I suspect in that case, they can offset the interest against their tax which they can't with dividends. I don't know whether such payments get taxed by the recipient against their dividend allowance or their interest allowance if they aren't held in a pension or ISA (mine are in an ISA so it's never come up as an issue). But as Terry posted - this is a 'normal' dividend as far as recipients are concerned so the above is just background.

Buried in the report:

"The fourth quarterly interim dividend for 2024 of 3.0p per share, of which 1.5p is payable as a PID, will be payable on 22 July 2024 to shareholders on the register at the close of business on 14 June 2024. "

Divi date details not yet released. I expect it to be paid in October and ex-div September based on previous years, with last year being a blip.

Yes - it was Crowe, but Crowe has about 1000 employees - I was hoping it wasn't the same audit team.

Https://www.accountingweb.co.uk/business/financial-reporting/crowe-uk-slapped-with-ps144000-audit-fine

I hope the SYME audit wasn't the same team. To be fair it's unlikely, Crowe is a pretty big firm although this line raised a wry smile "The FRC highlighted that Crowe’s most significant audit failing was in respect of carrying value of inventory"

Ohh, and just to be a pedant, the reader infers, the writer implies.

2G2D - either you are being deliberately misleading, or you are incapable of reading a full RNS. The numbers I quoted are in the 2023 Annual report RNS. They are quite a way down, not at the very top.

You have taken what I said and turned it into a 99% switch which is NOT what I said. (Numbers after here are from memory). What I said is that the UK pipeline has decreased by 99% and the Italian Pipleline has increased by 96%. Those numbers are there in the company's own black and white. I have shown you the words and numbers, I have told you where and how to find them, LuckyBob has done the same. You can lead a horse to water ...

You can spin this as a positive for SYME if you like - look at how well the Italian originators are working - a market AZ has close ties to, one where Banco BPM (not Banoco - just a personal irritant) who are interested in WL operate - a great foundation for growth etc etc.

Comment is free - you can think what you like - but facts are sacred (to expand the old quote).

"As for UK pipeline the figures are for companies signing letter of intent."

The entire UK pipeline is £1.8M, and that company has signed an LoI.

For Italy, the pipeline is £318.6M, of which £19.2M has signed an LoI.

For the rest of Europe, the pipeline is £10.3M and that is all covered by an LoI.

There is no 'extra' UK pipeline that hasn't signed an LoI.

"Richred_uk

No mention of UK or Italy!"

Keep scrolling down, it is quite a bit further down. I am not writing paragraphs of made up RNS, it is a direct c&p from the release. Do a text search for "212.1M" or "21 April 2023" and you should find the relevant section.