Member Info for Theanalyzer

Yes £245 million, oops

Still a large sum

With almost 6 billion warrants exercise at 0.065 pence and 43 billion shares already in issue

O.5 pence would theoretically value SYME at around £2.45 billion

Sounds like a stretch to me.

AZ sure is dragging his feet for such a small deal with his own self imposed deadline.

Says to me that the SYME systems and processes are still not sorted given customer and finance provider are both apparently signed up.

SYME commission at 3% is only $45,000 to be earned over the period inventory will be monetised.

Not long until interims to see how much cash SYME has burned in first six months of 2022.

Fisgguru
Castle doesn’t seem to read the RNS and other data.

AZ didn’t take up his open offer entitlement as is clearly stated in the Circular.

Now reflects New Chairman and NED photos and bios.

They were appointed on 30 June so it’s taken a mere 7 weeks to update website.

Impressive.

Castle
AZ company said it wasn’t take up its Open Offer entitlement in the Circular just like Venus Capital.

James and Collis holdings and their decision weren’t mentioned

Keithie1 what was your source of data and what date was it run at?

Deacs1970
The offer price was fixed because it was linked to Venus Open Offer price.

Venus effectively under wrote open offer

Peak
I note that Venus Capital is defined as Venus Capital SA in the Circular and other legal documents.

The only time it’s referred to as Venus and it’s powerful ecosystem of investors is by AZ.

Venus doesn’t issue a TR1 because it doesn’t own over 3% of the company, in fact I think it owns none.

Rosie
The Mandatory Offer isn’t a Death Spiral it’s a deeply discounted offer with a free warrant for every two shares).

It’s dilutive for the company especially after £50,000 costs incurred in offer.

A Death Spiral issues shares on a VWAP formula like the second element of the Venus capital offer.

Yesterday people were shouting about 50 million buy but today we have a reversal of 50 million shares dated yesterday at same price.

Looks like rampers are resorting to spoofing big buys.

Looks like someone got bored of waiting for IM RNS.

Whilst there are players willing to sell large chunks at least for most pis, the share price will be held back.

Only 1 and half months now to interim results are released with a proper news update

Elllltelinv

The second optional tranche of the Venus facility which SYME will need to draw to repay Mercator loan and trading losses states that shares will be issued at lower of 0.05 pence per share or 85% of prior 15 days VWAP I.e it’s a death spiral

Venus have already drawn £2,335,000 of mandatory notes so just £1,415,000 of mandatory tranche left before they get into the optional £3.75 million death spiral

Still no TR1 from Venus either

One point bulls overlook when they talk about green shoots with SYME is the horrendous cost of finance that SYME is incurring.

The effective interest rate on the Mercator bonds part of which were still outstanding at year end was 47.5%.

Unless you have huge growth incurring that level of interest cost will destroy your investment return.

AbudhabiTrader
You are falling for the look at big names we are dealing with myth used by a lot of stock promoters.

Intelsat San Paolo onboarded to raise money in Nov 2021 so far raised Nil
DP World Cargoes. Tradeflow are a supply of finance to DP Cargoes. Generated 1 tiny coffee deal and we know that Tradeflow issue is small size of funds not potential customers. They need to grow massively just to breakeven let alone offset SYME and plc losses.
VeChain up to $10 million of IM finance by 31 December to generate $300,000 of fees to be earned over time. First Deal still not yet completed.

Why not list some of the non household names used by SYME
Mercator a death spiral lender to whom they still owe money
Venus Capital the powerful eco system investor that does even had a website
Parzival Partners who valued Tradeflow at £31 million not even a household name in their own Household

Peakhope
David Bull is a non executive so he isn’t involved in running day to day business of SYME.

It looks to me that he has been fired for not delivering anything and Dominic White the majority shareholder of Eight got tired of paying him for achieving very little.

Looks like Venus has been offloading again. Unless one of large holders wants to fess up

I note that Derminator said it was redicoulos in earlier response perhaps it was a simple typo like saying Barrister as opposed than Barista - flat white to go please

Nice to see this bulk annuity deal this morning.

Deal size unspecified but could be over £1 billion based on WH Smith interim accounts and comment that all pension liabilities removed from WH Smith balance sheet.

HL moving IT to cloud will cost money in short time but in medium term it will reduce operational cost and increase speed of processing.

I also suspect that IT system have become a bit dated and need more money spending on them.

Biting the bullet and spending money to update systems and processes is never easy but it’s need to be done otherwise cost inefficiencies and service offering to client doesn’t keep pace with rivals.

Quilter spent £100 million plus to upgrade their systems.

SYME cited Taulia as being in similar business space at AGM

If you look at SAP interim results page 39 you can see some data on Taulia

Purchase price was Euros 700 million

Revenue was Euros 22 million
Loss before tax Euros 16 million

Financing volume seems to have doubled from €1.5 to €2.9 billion since its acquisition by SAP as SAP pushes cross selling across its massive client data base.