RE: Silly Talk25 Jan 2024 10:47
I think today's complete over reaction to the RNS is because people confused GM and AGM, and thought that Roland was raising again before the GM in around 3 weeks time. In fact he's just asking for permission to raise funds if needed after the GM in February 2024 but before the AGM in November 2024.
We need to refocus back on the here and now. I'm thankful this RNS has landed before Roland gets back on the plane for India. Once all the paperwork has been completed / signed off there will be nothing (other than the JV partners not wanted to tell everything) stopping Roland telling us who the partner is and how much they are giving us.
As we know the money from the JV partner comes through once the GoI approve it. It could be at that point when the JV partner hands over the money that SYN have to have in their bank account a minimum amount and thus a placing will happen to reach that level.
SYN raised £1.1m about 6 weeks ago. SYN has money in the bank I'd say.
This is all future planning by Roland, he's a very clever chap in my view, he sold STAR energy for £340 million.
We are days away from the end of the month, 5 trading days including today, we should know more within the next week.
Keep your eyes on SYN's twitter page for any 'off to India' tweets.
There was no need to sell up today and -18% is a complete over reaction.