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Your continued slating of those who attended the AGM is most unedifying. Those folks took time, expense and effort to attend and those who had the courage to pipe up should be commended. You didn’t.

Just because you don’t agree with statements/questions raised by shareholders doesn’t mean they shouldn’t be applauded.

Someone mentioned about the company being unable to make acquisitions. That opinion shows a naivety on how acquisitions at a listed company level works. The company has limitless funds due to the ability to simply issue new shares as consideration for acquisitions.

In terms of an independent on the board, wouldn’t be an interesting idea to have a shareholder representative on the board? Then the board won’t look so surprised every AGM that their world and myopic view of the company’s situation is questioned.

Maybe one of those who had the confidence and courage to pipe up at the AGM yesterday would be good for starters.

Decent summary.

Thank you to all shareholders who attended, even the ranters, you mean well. It does mean a lot to us “keyboard warriors”.👍😀

Picking up on a point though, A common method of buying other companies is to issue new company shares as “currency” which understandably might not go down well. In the circumstances the main thing I got from the meeting was to focus on revenues, pretty much come what may.

There was that! Think the point was that the company doesn’t have any meaningful revenue and that that shareholders own company, doing cleaning wasn’t it, can generate more money than syme currently.

The huge conflict of interest around recommending someone to loan money against shares was mind blowing. How did az even think that was ok?

Albert desperately trying to keep things in check yet probably underneath seething at how things are going.

The focus has to be on revenue as others have said on here.

…. to actively seek a takeover? There are plenty of companies out there would be delighted for a LSE listing for £12million or a big buy in whilst keeping PIs involved, or even a reverse merger. (stock exchange rules permitting)

It’s clear that the longer the status quo, the greater the dereliction of shareholder value.

There are precedents of the likes of Amazon whose price was on the floor at times over the last 25 years but there was hope there.

With SYME, whilst the concept seems truly groundbreaking, there is a slight concern that none of the larger finance houses have taken up the mantle or had a tickle at a white label deal.

AGM should be fun. Same day, should be up in Birmingham for the NACFB expo with the rest of the SME lending community but, the more of us at the AGM, the better. We truly need to make our feelings known.

What date and where?

Where? Can’t see on the financial calendar.

It’s a decent update. Usual word soup but ChatGPT is our friend when simplifying it. Essentially we should be revenue generating from fees for second half of 23, bit of cash going and frying around the tradeflow disposal, Italian banks are beginning to line up to get involved to offer the service to their client bases as is a uk asset based lender.

Few other bits and bobs but those are the main takeaways for me.

True there is regulation. I’m sure there’ll be another fintech somewhere in the world eyeing up this “unique” asset class though.

It’s been three and half years since those heady days of .85p when we were young and crazy enough to believe we were at the start of something massive.

Attending the AGM should be a given wherever possible.

Whatever we may individually think of the management, it’s far better to show up and see the whites of their eyes so to speak. And even more importantly, to pipe up with questions. Make them uncomfortable if necessary. Don’t by shy about it because if we are, we are essentially letting them off the hook for another year.

It’s not really surprising that the communications both publicly and privately has dried up. They’re probably all out of excuses, answers, responses.

However, I am minded to recall what Ryan giggs once said about sir Alex Ferguson and I paraphrase, “I’ve heard all his teamtalks more than once but it doesn’t stop me performing when called upon.”

We should be prepared to hear the same old stories and “ready to fly” words but with an widening sense of cynicism and scepticism.

With AI etc, any bank can set something like SYME up in a month if they wanted to. First mover advantage is becoming increasingly remote by the day.

Even a bank wanting the intellectual property of SYME would be hard pushed to buy the company out at current valuations and with opaque IP ownership. Better for them to set up their own systems.

Happens to the best of them…just need to be patient and think long term, maybe

https://www.statmuse.com/money/ask?q=what+is+the+all-time+low+price+of+amazon+stock

Could be a case of managing expectations, or to be back off the constant pressure to deliver results. No one to blame except himself though, he pumped us all up with his numerous bullish statements in 20-21. The expectation hasn’t abated since. Let’s see if the more measured approach in the last 18-24 months since the suspension pays dividends, pardon the pun. Noticed on LinkedIn that a staff member got some sort of promotion or sideways move to sales lead, so maybe something is happening.

Who knows. By throwing the possibility out there, it certainly encourages folks to stay in. GLA LTH

Maybe, tepid at best. 😀

Said with such conviction. How can you be sos ure given all the words and delays over the last 40 months or so?

I asked ChatGPT to simplify that word soup and this is what it came up with: AvantGarde Group is a new company working in Italy and abroad, using a system that merges different companies' knowledge to help businesses with digital projects.…..

If we’ve got the technology for these kinds of transactions up and running, and now Illimity have proven the concept as well, some other larger bank might try a takeover of SYME. 40-odd million quid isn’t that much in the bigger scheme of things. Maybe with a slight premium.

As usual, in amongst the word soup of an Az inspired RNS there is some progress here and real benefits.

Rather than the full divorce many were expecting, it’s actually a discreet distancing but holding on with fingertips.

Holding almost a fifth of TF means SYMe gets some upside. We are all agreed the TF guys know their finance onions.

Getting two million quid albeit in shares is interesting too.

Finally, TF will be leasing the SYMe platform for around 300k a year for next 3 years, so revenue as well.

This is only my initial reading of it. This may change once I get in my leather armchair with my quill pen and go through it line by line again with my abacus.

1st question, yes.

2nd question, more than some, nowhere near as many as others, enough to be interested.

Solid post as ever Peaky. In terms of detractors, one has to consider an alternative viewpoint. Just because it’s a challenging question or point doesn’t mean it’s a negative.