Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It’s a good point. Are there any institutions left on the register with decent sized holdings?
E_Al, yep aware of the founders holding in Indus Gas via Gynia and very aware of the almost total lack of liquidity in this company’s shares over the years. It’s the lack of share trading which makes me think that they are abandoning AIM. AIM is increasingly getting a bad reputation globally so I suspect that Kalsi doesn’t want any more to do with it especially when no one trades the shares.
He may want to relist on a different exchange where there will be enough interested investors.
It’s odd that the company has not come out and said anything in response to its share price falling over 80% in a week. And the trades keep coming in. Other investors know something - this isn’t just a few trades in an illiquid stock collapsing the price in my view.
Time will tell but suspect FCA need to know of any potential dealing on material non public information. Something highly unusual here.
Just my speculation. Share price move has been extreme over last few days and yet there is no evidence of any operational or trading issues.
Saw a very similar pattern with GEEC last year where insiders started to sell ahead of rns of delisting, driving the share price significantly down over a few weeks.
This looks similar to me. But of course I could well be wrong.
What other reason though could there be for sudden massive increase in share volume traded in a stock that hardly ever registers a trade. Very unusual so suspect it’s leaked info on delisting.
Agree that there is no evidence of any business performance issues to date so for me this collapse in share price can only be leaked info of delisting.
Happy to own private companies so will wait until the rns is out and the shares go even lower to pick up a decent holding. Company worth well over a £1 per share in my view so we’re in very deep value territory now.
Unfortunately I suspect it because insiders have got wind of the fact that Indus Gas plans imminently to delist and become a private company. Great Eastern Energy did this also last year - it is another Indian gas production company. The cache of being London listed has completely disappeared for companies like these now and when hardly any shares are traded the cost of the listing far outweighs any benefit.
If I’m right then the share price will be driven down to virtually zero as last remaining shareholders try to get out before it delists. If you can stomach it and are prepared to be a long term shareholder in a private company then you may get a once in a lifetime opportunity to pick up a significant quantity of shares at very heavily discounted valuation.
If delisting does happen it will not be because of operational concerns or imminent bankruptcy etc. just a loss of interest in being London listed. The long term outlook for gas producers in India still looks to be strong with good economic growth and a desire to increase gas to 15% of the energy mix from around 6% today. Indus is in a good position to exploit this backdrop and is sitting on proven gas reserves. But when private you may have to wait a few years for a buy out of the company or a relisting or maybe even a dividend longer term than that.
Of course I might be wrong and it could be something else. But keep a close eye and maybe consider the opportunity to buy very very cheap shares if you can and have the appetite for longer term holding without liquidity. At least if you do that when the news does drop you can act decisively and with a plan.
If this isn’t for you then You might want to sell out now !
Genedrive is not being shorted. To short sell investors need to first borrow the stock. You can track how much stock is out on loan to short sellers via
https://shorttracker.co.uk/company/GB00B1VKB244/
The position is updated daily from the FCA official lists.
No one is forward selling GDR ahead of a possible equity raise at an unknown time in the future otherwise it would show up in short tracker!
Yes you can tell your broker that your shares are not available for stock lending
Yes
Check out Short Tracker
https://shorttracker.co.uk/company/GB00B1VKB244/
No open shorts in Genedrive at the moment.
I’ve had confirmation from the company that the RNS is misstated and the connected persons disclosure should state a stock purchase.
The share price was hovering just above 2p a share by close on March 21st - the day of the transaction. No one without inside information therefore would have bought the shares from Michael Laurier at 3.5p.
So if he did sell then it must have been to either Somerston or to Vincel as the two institutional shareholders who took part in the placing and would have knowledge of the placing pricing prior to the RNS being issued in March 22nd.
It doesn’t make any sense for that transaction to happen with either party as they’re taking part in the placing. Even if it did, it the quantum of shares purchased from Laurier would require a disclosure by the buyer as it would push them through a percentage holding threshold.
I’ve sent an email to SYM to clarify though.
Artji, always good that someone reads to the end of these statements. I had indeed thought that i got to the end when the text stated 'END' for the first time so didnt see this.
Suspect though that this is a typo. The transaction date is given as March 21st and at no point could anyone sell for 3.5p on March 21st. (I dont think that anyone could have sold for 3.5 for weeks). Laurier clearly stated that he bought £105k of stock on the Investor Meet Company call and it is clearly stated in the main text of the announcement that this is new money from him. If indeed he has bought and sold then there would surely be two separate connected persons disclosures of equal amount.
I'll email the company and ask them to clarify and correct the typo and then reissue statement so everyone is clear as this is an important point. Laurier has invested and he has done so because he believes that the short term looks good.
Michael Laurier also buying. When I’ve spoken to him in the past he’s stated that he doesn’t believe in the signalling power of directors stock purchases as there is too much day trading that effectively cancels out this signal. So I read the fact that he is buying now as more an indication that of growing confidence that he will make good money on his investment in the short term.
Can still buy in open market for around 3.2p so can’t see the retail offering getting taken up at this rate.
I’ve been too optimistic (obviously) on the share for so many years now but might as well continue. Quite a lot of detail in the rns on outlook and chance to delve deeper into the details of some of it in the company meeting later. My money still on share price moving up over next 12 months and potentially significantly up if India d2w approvals come in and full reg changes happen in Saudi.
Amazing.
Frustrating to still be reading about seemingly endless delays in regulatory developments and pre commercial trials/testing etc. but this is a good outcome to bridge financing until some of these opportunities begin to land.
Several transformative opportunities so just needs one of these to come through and shares will be meaningfully higher from here.
EU aside, SYM aren’t even selling big quantities of d2w in the Americas!
It’s a very strange RNS . Go tell the customers direct as they won’t be reading RNSs from SYM.
Hold them to account
seeking some kind of reassurance in the absence of any updates from the management team at sym i read back through some old trading updates. the adage jam tomorrow is obviously well used in connection with sym but the scale of non delivery is quite staggering. even chance alone would land at least one of the many big ticket sales growth opportunities.
i still therefore find it hard to believe that a group of people can be this incompetent. here’s an extract from an update a while back on the opportunity for india and d2w…
based on current enquiry and order activity, sales of d2w by symphony india are expected to increase to levels of over £250,000 per month from early 2023. further investment is being made by symphony india to enhance its marketing and sales capability, with five new experienced employees expected to join shortly. this investment is being made now to enable symphony india to strengthen its position in the indian market which it estimates could generate over £10 million in annual sales during the course of 2024.
symphony india has an established high level management team to support a pan-india distribution network. it currently has 16 new hub distributors either in place or in final contact discussions. hub distributors are large, well-connected third-party companies with strong customer connections, and expert technical and sales personnel. if appointments continue on the current trajectory, more than 30 hub-distributors should be in place before the end of h1-2023.
the increase in sales is being driven by the plastic waste management rules 2022 (as amended 6.7.22) which permits government-approved biodegradable plastic products to be exempted from restrictions that would ban most plastic film products unless they are above 50-micron thickness, and 120 microns for carrier bags, (which generally means an increase in cost by more than two to three times). producers and brand owners using certified biodegradable plastic materials will be free from this obligation, thus providing symphony's d2w technology with a competitive advantage in a country with a population of c.1.4 billion.
symphony's d2w technology has been tested by intertek india, a government-approved laboratory, to the astm standard 6954 (an internationally recognised standard for proving biodegradability and non eco-toxicity of plastic products in the open environment), and symphony india is waiting for official approval that producers using d2w technology will be exempt from the regulations. customers are however, already placing orders and activity is increasing as stated above.
£10m of sales from d2w in india alone by the end of this year. be good to get an update on that now that q1 2024 is nearing its end.
grupo bimbo, saudi d2w sales, fire ******ants and insect repellent as well as a host of other d2p applications. for those still invested please contact the management on this and up the pressure to hold them
If they’re all in Australia at the moment then they’ve been asleep while the price has been falling. We might Expect and RNS prepared and ready to go for when UK wakes up tomorrow but who knows
Likely that SYM will update more fully in the next few days. Last weeks announcement would have come as a disappointment so it’s good that they avoid a knee jerk response while emotions might be running high. They’ll consider their position and next steps carefully and update soon. Multiple avenues for growth and no d2w sales in EU at risk from this update (nothing priced in for any potential future EU d2w sales either to my mind).
Plenty of questions for the company to answer on commercial traction from ME, India and Americas regions. Frustratingly close but until we see clear
Evidence of meaningful and scalable progress then the shares unlikely to move a great deal I suspect.
Agree with LAS and would also add that not all about EU court ruling. Sym have positioned well over recent years to be beneficiaries of regs changes in large markets of Saudi Arabia and India. Thankfully management have now adopted the more reasonable stance on communications of timing for the opportunities, which they should have done from the start. They don’t know and can’t predict timing. When the regs do come through both markets have the potential to transform revenues and profits!