Member Info for TrevorBrooking

So TGTD, with all these lucrative markets, what have been the barriers to entry over the last 5 years that Syme are suddenly going to be overcome and how? And please don't tell me a list of suppliers provided by Tekne because that won't wash!

TGTD, they can't do offsheet financing, ie a true sale, thought this had been established. No one in their right mind is going to lose legal title to defence components/end products.

And thereby lies the problem, DB have no interest in Syme's platform

Looks like DB have beaten them to it.....

https://www.reuters.com/business/finance/eu-lending-arm-triples-defence-loan-plan-3-billion-euros-2025-06-11/

Sorry TGTD, that's absolute cobblers. What rate are Syme going to be getting the money for? Add their 3% as claimed by Hughez and it's looking expensive, all your doing is adding on a middlemans costs.

Both, you've gone very quiet on how Syme can actually make money when these cash rich defence contractors can always borrow from their respective gvmts if they really needed to at rates much lower than Syme can offer. Can you share your thoughts on this with us please.

I suspect that Syme will default on the loan note repayments (how are they going to repay them, answers on a postcard please?) and by the terms of the arrangement, all of Syme's IP transfers to Nuburu, leaving Syme shareholders well and truly shafted.

Hughez, you're living in cloud cuckoo land!

First of all, where are Syme going to get €150m from to lend Tekne? If by some miracle that does happen your maths don't stack up. You say that Tekne will reduce their debt interest costs of 6-8% to 3-4% with Syme making 3% on the deal.

So this means that Syme are going to be borrowing at 0-1% rates in order to lend to Tekne at 3-4% and still make 3% on the deal! Please do tell me where to find this lender as I'd like some of that.

Hughez, plenty of other "big" names have come and gone (once they've worked with AZ) over the years, don't expect these will be any different

TGTD

I presume the conversation with Tekne’s customers will go something like this:

AZ – Hey Mr Rossi, thank you for buying one of our military vehicles, would you like our sister company to help finance the deal

Mr R – No, you’re ok thanks, I’ve got plenty of cash in my balance sheet as I’m a defence contractor and we tend to be very profitable and asset rich.

AZ – But I could get you a really great deal. You could even sell it to my company and keep the stock off your balance sheet.

Mr R – I can’t do that, it’s military equipment and my government won’t allow that as it would pass into 3rd party ownership.

AZ – Aah, ok then. What about a stock loan then? I could lend you money at the bank’s rate plus Syme’s 2% margin?

Mr R – If I wanted that I could go direct to the bank and save the 2% couldn’t I?

AZ- Hmmm, you’ve got me there Mr Rossi, tell you what, let’s forget we ever had this conversation.

TGTD, you keep living in your fantasy world. Syme will no doubt get the suspension lifted at some point in the future, but that's largely irrelevant when it doesn't actually do enough business to keep the lights on and in my opinion (and others), never will. AZ has had 5 years to crack this and has failed. He's rinsed Syme & Rtop shareholders of all he can and is moving onto his next group of victims. The sooner you come to realise and accept this the better.

Hughez, why would he walk away? How much was he paid last year? Why walk away from a golden goose that keeps laying? All he has to do is juggle a few loans and shares around a couple of times a year and he get paid a salary most people would be very happy with.

All that is happened is that the can has been kicked down the road a bit further, allowing AZ to continue drawing his salary, being paid by naive Nuburu shareholders cash this time whilst continuing to dilute Syme shareholders.

How about actually doing some business that makes money AZ instead of spending your time issuing confetti shares and juggling intercompany loans, because that's what you're paid to do.

So TGTD, bearing in mind your "robust recapitalised balance sheet" claim, can you work backwards and tell us what creditors won't be paid off?

TGTD, you said only earlier today that Nuburu would have a "robust recapitalised balance sheet" - you must have generated this through AI as you clearly don't understand the meaning of it. What you have indicated is that Nuburu would use the equity raised to pay down the debts owed, thereby improving balance sheet position. Latest information we have is that Tekne has debt of €64M and Nuburu had debt of $38M. So what is it to be?

TGTD, most if not all of that $100m is going on paying off historical creditors in both Nuburu & Tekne. As you said, they will be cleaning up their balance sheets. After acquisition costs I doubt there will be much left.

TGTD, assuming all this pans out as you hope, do you have any evidence that Syme have access to funds to enable inventory monetisation?

I can't remember who it was, but someone tipped this at 2.98p, thank you very much, I owe you one (or two) beers!

Hmmm, sounds like AZ is doing DW a favour with other people's money.....

Whilst not directly related to Syme but may be interlinked in due course, does anyone have any P&L numbers for Tekne? We hear about the order backlog but is the company profitable? And what balance sheet assets/liabilities are being acquired? Would be interesting to know given the relationship with D White. Could either be a brilliant investment or using shareholder funds to do a mate a big favour.