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EU action
Symphony's legal team has received and reviewed the Defences served by the three Defendants (the Commission, the Parliament and the Council of the European Union ("EU")) to the action it has brought against them in the General Court of the EU. The action is in relation to their decision to adopt Article 5 of the Single Use Plastics Directive 2019/904 ("the Directive").
The Defences did not reveal anything unexpected, and Symphony's legal team remain confident that the EU acted unlawfully in imposing a ban on a material which they call "oxo-degradable plastic" in Article 5 of the Directive. In any event, Symphony does not accept that the ban applies to oxo-BIOdegradable plastics, which are made by incorporating Symphony's d2w masterbatch into ordinary plastic.
Symphony's legal team has accordingly filed Replies to each of the Defences, but a decision by the court is not expected for another 12-18 months.
It might be that the vaccine news is already built into the share price now ! The markets and those in the know are bound to be fully aware that there will be no further revenues from Astra hence the massive drop and obvious concern re future costs and Homology.
Morning Kern
It has been remarkably quiet on the Oxb front as usual. No word on Homology progress but any rise is welcome. Would reinvest if I could be sure of hitting bottom but wouldn’t everyone. My technology and pharma funds ( in fact all my funds) are dropping like a stone and we aren’t officially in a recession yet.
Interesting and scary times ahead.
Major shareholders don’t always get it right. Some have had quite a chequered past . Vulpes and the Diggles have had a few mishaps over the years. For the sp to drop by over two thirds is not a good investment no matter how you try to paint it. Diggle has stepped away as well.
Not sure we are ever going to see any measurable uplift in share price .Back in Sept 21 Symphony's CEO Michael Laurier said "We have been working for some time with customers in Canada, and approval from Health Canada now enables this project to proceed more quickly to commercialisation." I know we aren’t going to get a miracle but 10 months later, nothing! If this is such a great product surely there must be an update? Come on Sym get the finger out and replace the sales team if they aren’t performing.
Nothing better to do so contacted Halifax via their live chat…. “I was wondering if the Halifax were going to correct the book cost for Aviva after the capital return?”
11:24 AM
Halifax replied…
“I do apologise but we cannot do that due to the way the event was processed through our systems.”
Just got to live with it…a bit of honesty goes a long way.
Morning Kern,
The CGT question to the Halifax was for the future as according to their site they have managed to turn a healthy profit into a loss with their new average. It has just complicated matters . The bottom line is the profit is still there just not on their site.
Mainly in banks at the moment with a ‘very’ speculative punt in Mxc and Sym. Quite like the safety of a dividend and a slow moving share price in these uncertain times. Getting cautious in my old age :-)
Hi Kern,
Fancy meeting you here. I also asked about capital gains implications but according to Halifax “ we should keep our own records and not rely on theirs.” Very comforting. I got the feeling that the process confused the computers and staff..
Just had a lengthy conversation with the Halifax concerning my average share price that is showing on their site. ( nothing better to do :-) ).I was told a few days ago that it would be automatically corrected by the 31 May and failing that a manual calculation could be done. It now transpires that the Halifax have taken the decision to leave as is and that shareholders should keep their own records and not rely on theirs. Computer says no! The current value and number of shares are the only correct figures. Spoke to 4 different people and not sure if any understood the issue. Not a major issue but an annoyance.
The AstraZeneca coronavirus vaccine may lead to an increased risk of developing the serious neurological condition Guillain-Barré Syndrome (GBS), which can lead to the rare and terrifying "locked-in" syndrome.
Uptheladder… so many self acclaimed experts on this site at the moment that I have a couple of filters running. 10 messages filtered in the past 24 hours and suspect I have missed nothing of interest. I also bought on the 16th at 394 but could have bought in the 380’s if I hadn’t dithered. Some were having difficulties with their broker sites but not all. Perhaps a case of hard cheese..g.l on your purchase..