Member Info for Theanalyzer

VRS had under 500 million shares before its Jan 2024 placing its now over 2.8 billion.

Classic value trap for shareholders

TwoGoodToDie

Its Banco BPM not Banoco BPM.

SYME haven’t even completed the first €8.5 million deal let alone launched a whole white label deal.

Personally I think Banco BPM might have got cold feet about working with SYME.

I note your latest note invents the idea that ECP might have an ability to get more shares in SYME via its loan to 1AF2 Limited which is just blatant nonsense as SYME isn’t a party to the deal. If such an obligation existed it would be disclosed in accounts of SYME and isn’t.

You won’t admit your wrong though just like when you got confused by

Claiming that loan didn’t exist because no cash had changed hands

1AF2 issuing a €73 million bond and Eight owning €40 million of the principal

TwoGoodToDie

You latest theory is total rubbish.

Eight has never had £5 million in cash let alone £40 million to inject into TAG.

In any case Eight purchased the £40 million principal via a loan from IWEP as both Extrader and I had to explain because you didn’t initially understand the nature of the transaction.

So that leaves IWEP the private entity which made the loan originally and whose accounts clearly state that it transferred listed shares and a debtor in exchange for cash for the loan. I.e no cash is mentioned.

Care to explain how a debt incurred by TAG be settled by SYME, a public entity issuing shares? The cash would go to SYME not TAG.

Peakhope

AZ admitted in RTOP RNS that TAG was experiencing liquidity problems and there are numerous RNS showing TAG not paying cash requests by SYME and TAG. Now we find out that he hasn’t paid Eight.

I know why I think he is short of cash.

NS

In the reverse takeover AZ had a smaller stake.

I think AZ thought that SYME was going to grow in value and wanted a bigger stake so he purchased DWs stake.

It hasn’t and now he finds that he overpaid massively and still hasn’t paid for the shares he purchased.

Ns 20

The potential impact on SYME is that TAG is the provider of SYME working capital facility albeit it is in arrears on payment and owner of around 20% of SYME shares.

TAG being in financial difficulty isn’t good for SYME as it may have to cancel working capital facilities and sell its SYME shares which would hammer the SYME share price.

The 1AF2 bond was provided to DW ‘s IWEP in exchange for his SYME shares held by IWEP back in 2021 as of AZ’s buyout of DW stake. No cash changed hands at that time.

The amount due from TAG in 1AF2 Limited is a receivable due under the TAG guarantee to support value of collateral up to $60 million. Again I suspect that no cash changed hands.

I think that DW won’t get anywhere near the €40 million owed and I think he is in a really tricky spot.

TwoGoodToDie

Mate you really are clueless.

First 8.3 billion shares is around 11. 6% of 71 billion shares issued shares not 20%.

Second if SYME issues shares to raise cash that won’t help TAG pay its own debts because TAG owes SYME money not the other way round.

The debt repayment was envisaged by Eight to be in cash but it might accept assets in specie instead. They are expecting €40 million which when TAG continues not to pay SYME and RTOP the low millions they are owed under working capital loans suggests that TAG has a significant liquidity crises.

Finally you ignored my response clarifying the €73 million and €40 million probably because it showed that you simply don’t know what you are talking about on this topic.

Steady

You have got this back to front.

IAF2 needs to pay loan otherwise it loses 8.3 billion share. TAG incurred debt by buying shares of DW.

TwoGoodToDie

It’s very simple.

The 1AF2 loan principal is €73 million. Eight owns €40 million and IWEP, another White company’s owns the other €32 million of the principal total of €73 million.

Eight acquired its €40 million principal debt from IWEP via a loan from IWEP for same amount. No cash was needed. Eight subsequently swapped the IWEP debt into Eight shares. Again no cash involved.

AZ clearly is just the can down the road because I don’t think he can pay be TAG is strapped for cash.

5 weeks since AZ told RTOP funding was imminent.

Company must be running on fumes.

Peak

If TAG can’t pay full amount then they are insolvent.

It’s up to Eight then to decide what to do.

Peakhope

You completely wrong and missing the key point.

The 1AF2 debt principal is known. Its €73 million as set out in bond listing under 1AF2 on Vienna Stock Exchange which is the as the liability of €73 million recorded in 1AF2 Limited accounts.

Eight only purchased €40 million of the debt, the rest remains with IWEP Limiited.

If TAG was good for the money then Eight would be recording that much closer to €40 million principal that Eight purchased and not less than half that amount. Eight Directors don’t believe they will recover in full I.e TAG isn’t good for the €73 million.

Anyway we should know on Monday what happens.

Savvy

Your are a conspiracy theory obsessive.

The vast majority of TW articles are based on research of SYME and counter party accounts, filings and statements made by SYME and AZ.

TW writes articles when something is announced at SYME which is usually bad news which is the trigger for share price falls.

Next Monday when TAG is supposed to pay Eight €73 million. Should be interesting.

SYME share fall is due to non delivery by SYME over 4 years.

I hope your not overly invested in SYME.

I

TwoGoodToDie

It’s TAG that owes the debt to Eight not SYME.

You know the company that owes SYME money for working capital

Meanwhile despite your endless positivity SYME just hit new 52 low today

Steadyasshegoes

Even Eight don’t think that TAG is good for the money, they wrote their debt down by £14 million despite IWEP giving Eight priority benefit of the entire charge they hold over TAG.

Ecp is Eight Capital Partners.

TAG owes it and IWEP Limited €73 million due for repayment on 21 July.

These aren’t formal half year numbers which will come later.

Growth rate is impressive and at 50% margins it won’t take long to drive to profitability if current trend continues even if admin costs are increased.

DPP prospects look good due to

Strong management team driving growth through existing stores via LFL sales growth and store rollout plan

Plenty of cash post DOM UK cash funding

Strong Polish economy

Presence in Croatia which is a country whose economy looks solid as well better GDP growth than uk

Some people will be doubters until formal funding arrives.

My view is Ethiopian government being onside will ensure that Kefi will be able to resolve any on the ground issues speedily.

TwoGoodToDie

The loan was given in exchange for shares so of course no cash was involved. That doesn’t mean there is no loan.

The loan is recorded via a charge at Companies House signed off by an international law firm, it’s listed on the Vienna Stock Exchange and Eight Capital record part of the loan as their principal asset in their audited accounts and their auditors state how they have tested the value of asset. AZ’s 1AF2 accounts record the liability. Are you saying that DW and AZ are just making the loan up?

I agree that DW finds himself in a very difficult position because shares in SYME and RTOP are worth so little and both companies have net liabilities.