The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Many are on here, out of a perverse curiosity to see how this fraud plays out. Some have lost money, some have learnt valuable lessons, some just follow life style businesses and over promotes. .there is a poor sap on X with a Guitar moniker who had fallen for the story and lost a fortune - he even copied my post about Albert and published on it on X. Albert has a lot to answer for.
Now is DW back from his round the world yacht trip funded by the grateful believers.
Couldn’t agree more. Albert is absolutely culpable here and IMHO has committed securities fraud at RTOP. When the placing moneys didn’t arrive and all 15 investors welched on the deal. Subsequently the founder and fellow director welches on the loan agreements to RTOP, only confessing that the floatation funds from Aug 23 were not actually received by TAG. Then withholding this material fact until May24. Albert allowed AZ to mislead the markets, investors and created a false market. I hope the FCA Investegate’s and takes appropriate action.
The RTOP stench will drag down SYME and it’s no wonder no institution will touch this with a barge pole.
Last lot of investors found or introduced to Albert and AZ didn't cough up as per the RTOP RNS. With the delayed issuing of the placement shares at the end of May. Let’s see if the cash actually arrives - there will be another twist of turn for sure and we know AZ and Albert don’t like releasing bad news in a timely fashion.
Uk investment firm…..now which related party is behind this?
Jarv,
No it’s a spoof to make some folks think there will be a short squeeze and start buying again.
If he and TAG wanted SYME stock they would subscribe to a private placement to fund the on going losses.
There is no shortage of shares if you have money
Assuming the placing funds arrive. Which can’t be taken for granted with AZ. I suspect all the funds are allocated to payroll and trade payables.
We also know TAG will be selling SYME shares as the MO was disclosed in the RTOP RNS.
Don’t forget 10% of the raise will go in broker fees.
What’s not to lo
It's to fund losses.
"The New Equity Funding is expected to be used by the Company and Group to satisfy its ongoing working capital requirements and to improve the Company's overall capitalisation"
Now will the money actually arrive?
Sharebel,
We get it—you are desperate holding a huge amount of SYME shares. There is no short squeeze. The warrants alone issued with this placing would cover the SLS requirements at an even lower price, thanks to the pitiful placing price.
With the spoofing end of April RNS failing to generate the excitement, liquidity and volume required for a meaningful placing. AZ has done well to get this raise away at such a high price hence the background selling.
This totally ends the short squeeze ramp story and shows how SLS et al. would close out the position if required.
Now, if AZ were a real cunning fox, TAG would demand the return of the shares and then welch on the deal after the lenders have acquired the shares in the private placing.
The auditors would have required proof their fee would be paid and that sufficient funds were inbound before signing off the audit. This has really gone down to the wire!
In fairness to Analyzer and hypothetically speaking if TAG was successful in purchasing the shares back at a price many multiples of the current SP. Then why on earth has AZ welched on his funding commitments to SYME and RTOP?
If TAG are able to redeem the shares then it begs the questions why it allowed SYMEs cash balance to fall to a a mere £5k and the end of December.
Anyone would think AZ is not serious about the businesses and has ulterior motives not aligned with rewarding retail share holders.
Better late than never. I would love to have been a fly on the wall with the SYME and FCA discussions, but I'm sure we will never know.
The irony is that AZ was a self-proclaimed regulatory expert. When CEOs make that kind of comment, folks expect the highest standards to be adhered to.
Usual vague timescales and numbers - lots of up to € then the reality is in the small print.
How confident are folks that a related party org will actually deliver based on AZs track record of not coughing up when needed. Hopefully the non news will create a liquidity event and TAG will shift a few more shares.
F
The word used on the 29th Feb was Finalised by the end of March. Then, the 5th of April update said they had hoped to complete the contracts in March and that further meetings were planned in April to complete contracts etc, all a bit woolly, to be honest.
I totally agree with you about the lack of PR. I just checked the website, and Nicola's mugshot has been removed (I'm sure she chased it), so there is at least some change. After that last Proactive report, which was pure fiction, I bet even Proactive is wary of AZ and not happy to accept share-based payments from SYME or, as in the case of RTOP, have their invoice assigned to TAG.
How on earth anyone can pretend they know when the deal will be done - seriously!
Just remember the old stock market saying
"buy on rumour, sell on news"
I'm sure AZ's track record of underdelivering and total failure to deliver against all forecasts will continue and after years of anticipation, we all know any announcement on progress will disappoint and fail to provide accurate information. The AGM will be interesting as the whole board needs to be held to account - but we all know they won't be...
SYME shareholders will be disappointed in AZ if he actually honours the $3 for Nuburu - yet couldn’t find the change to fund SYME and RTOP commitments.
I smell a rat - repeat of TradeFlow fiasco or is this AZ’s rinse and repeat in the US shame he doesn’t put the same efforts into delivering against the SYME business plan.
TG2D,
Is there any RNS info on Banoco taking an equity stake in SYME? Or is this your personal hope?
I struggle to see a serious II becoming the first II and investing as SYME would be a by a major headache for any investment committee following due diligence, also MC and liquidity is just to low and not many investment folks would put their c#ck on the block for AZ /SYME.
Seems a bit far fetched based on progress against business plan and published forecasts to date.