Member Info for richred_uk

From the same RNS, you missed this bit:

"In Phase One, a proof-of-concept real transaction will be executed by end of July, involving a client company already selected by SYME from its existing Italian portfolio, with the VeChain Foundation serving as provider of its VeChainThor blockchain and NFT investor."

How accurate was that paragraph?

Last Year's Accounts - I have tried to tidy the formatting - apologies if it's hard to read (or go to the RNS 31/5/22 and search for "salaries" :

"The aggregate payroll costs (including directors' remuneration) were as follows:
2021£ 000 2020£ 000
Wages, salaries and other short term employee benefits

1,476 633

Social security costs

166 95

Post-employment benefits

86 1

Redundancy costs

- 16

Total staff costs

1,728 745

The average number of persons employed by the Group (including executive directors) during the year, analysed by category was as follows:
2021No. 2020No.

Executive directors

2 1

Finance, Risk and HR

2 1

Sales and marketing

4 3

Legal

2 2

Operations and Platform development

9 7

Total average number of people employed

19 14

11 Key management personnel

Key management compensation (including directors):
2021£ 000 2020£ 000

Wages, salaries and short-term employee benefits

890 361

Social security costs

60 -

Post-employment benefits

60 -

Total key management compensation

1,010 361

Key management personnel consist of the Company leadership team and the Directors.

No retirement benefits are accruing to Company Directors under a defined contribution scheme (2020: none), however the Chief Executive Officer received cash in lieu of payments to a defined contribution pension scheme of £49,310 during the year (2020: none). This was allowable under his directors employment contract. Of the £49,310, £21,560 that was paid during FY21 but which related to base salary earned in FY20. The remaining £27,750 related to base salary earned in FY21.

The Directors' emoluments are detailed in the Remuneration Report of the Annual Report and Accounts for the year ended 31 December 2021."

Elllltelinv 14/9 16.29 "I am not the one speculating about Venus."

Also Elllltelinv 14/9 11.53 "Venus responsible for the big buys at 20m and 30m."

"Time to provide proof if you think Venus is selling."

# Shares certainly issued to Venus to date = 5.62 Billion (Various RNS's to date)
TVR in SYME = 43,957,698,172 (from this morning's RNS)
%age of Voting Rights if no shares sold and no warrants exercised = 12.79%
Number of TR-1's listing Venus as a holder = 0

"More shares will be issued I'm sure."

They have to be. Per the RNS (27/4) announcing the Venus funding, there is a mandatory draw-down of £3.75M @ £0.0005/ share. Venus have taken 5,620,000,000 shares so far (£2.81M) leaving £940k = 1.88B shares that *have* to be issued under the agreement. Venus will also have had (I am not sure if they have converted any) 2.81B of warrants @ £0.00065/ share from the tranches issued so far, plus another 940M to be issued from the oustanding tranches. Plus 3.25B warrants that were issued at the signing of the agreement.

To be fair, it's not the company's job to know the intricacies of tax regime in every country that PI's could live in, it's the PI's responsibility to do their due diligence and find out how what they are being offered fits with their investment holding structures.

It's potentially quite clever of the company (shafts PI's though) to entice PI's with cheap warrants, that they (PI's)end up with so few of that it's not worth the fees to exercise and then bed and ISA them, so they never exercise the warrants.

World Trade 2021 = $28.5 Trillion (https://unctad.org/news/global-trade-hits-record-high-285-trillion-2021-likely-be-subdued-2022)

10% = $2.85 Trillion

Chances that Syme would achieve that = 0%

Doh I was using a rough current so to co.never the loan note, it's about 120 milliranche tranche price day 80 million at warrant price.

plus half a billion (Give or take) in warrants below the current sp.

Plus 10% fee as a loan note at 10% pa interest. Not sure what price that gets converted into shares at. If it's the same as the warrants that's about another 45 million shares or about 60 million if at the tranche price. Please correct any early morning maths, I didn't have a spreadsheet to hand and was working on year end accounts until 11.30!

£0.15 dividend plus £0.10 market being in sell-off mode today, so without ex-div we'd be down 3% ish, starting to look cheap to me, but so are a few others

Ex-Div

Makes sense for it to be a zero commission platform - the trade was only for 18k shares @ £0.00125 = £22.50, so a tiny outlier

And hit - hope I don't have buyer's remorse in the morning

You'd think it was ex-div today the way the price is dropping (just a few pennies more and my buy order will be hit :) )

1AF2 Ltd - AZ's company IIRC - correct me if I'm wrong:
HBOS Investment Fund Managers Limited
A J Bell Holdings Limited, Asset Management Arm
IG Group Holdings Plc, Asset Management Arm
Barclays Bank PLC, Wealth and Investment Management Division
Pictet & Cie (Europe) S.A., Asset Management Arm
HSBC Global Asset Management (UK) Limited
Jarvis Securities plc, Asset Management Arm
UBS Asset Management - I Suspect that pretty much all of these are Nominee accounts for PI holdings rather than Institutional investments, same with some of the other "Asset Management" holders below 1% - happy to be corrected, and also, this list omits HARTFORD GROWTH FUND LIMITED who own 3.64% according to the RNS 1/8, so the data might be quite out of date.

"where did you get the £50k figure from? "

Read the RNS, roughly 320k raised of which SYME get roughly 270k

"Hedge Fund Bought in
at this level and higher"

No, they likely did not. The reporting threshold was reached 26 July when the SP was about 0.08, it is currently about 0.102. It had not been at this level since mid-late-April (briefly) and consistently before 1 Mar 22. So unless they have been slowly building for a long time, they likely bought in below the current SP, perhaps by about 20%.

"Is that right? Shares you own can be loaned to be shorted?"

If you 'own' them in a nominee account e.g. an ISA (maybe a SIPP - I'd have to check), yes, technically they are registered to the nominee company, not to you. The nominee company can then pocket a fee for lending them out. They will argue that such fees reduce the costs of running the nominee process for you and mean lower fees. No idea if it has happened with this share.

And the market price may not still be £0.0008 when you come to sell them.

I think there's very little existential risk to the company - debt free, own their own manufacturing and distribution chain, own their own IP, very loyal customer base. There are certainly execution risks, but I'd argue that someone like Apple/ Microsoft have probably higher risks to their performance. But then that's the fun of this game, we can both have different views and evidence for them - Mr Market and Mr Bank Account will determine who is right (and the answer may be both if looking for differing outcomes). Right now I am not putting any more in here (way overweight in my portfolio already), but if it gets down to the £60 mark again I might have some more.