||EPS - Basic
||Market Cap (m)
Real-Time news about Syndicate (London Stock Exchange): 0 recent articles
|wskill: For the share price to continue falling as it has someone is dumping and they do not seem to be bothered at what price.I am sure when this seller clears SAM will recover but where will the bottom be we are having lower lows each day.|
|amazon_woman: loverat in 2008 there were 132m shares in issue which equated to a market cap of arounf £26m at the time when the share price was around 20p, just after the fall it fell further. The funds under management then were around 5.8bn. They also had massive debt. Around £16m from the interims in 2008.
Now there are 1,804m shares with a market cap of around £43m FUM of £6.4bn plus £2bn from a recent acquisition so £8.4 bn.
If you compare MC with FUM we are not far out from 2008 but we now have NO debt.
You can't simply compare the figures from each year as you are not comparing like with like. SAM has historically raised funds for acquisitions so the basis for valuing the business change each time.
At 20p we were facing armeggedon and priced to go bust.
At 2.4p with no debt and NOT facing armeggedon we are undervalued. The funds under management are also some 50% higher.
Brief summary and I know the share price went lower etc but I hope that helps.
2008 mc 26m fum 5.8bn at time of market crash and lots of debt
2010 mc 43m fum 8.4bn at time of market recovery No debt
|asa8: can someone tell me why the share price collapsed march 08. was it due to share dillusion regards|
|itchycrack: Perhaps a bid may now be back on the cards?
Probably the best time to do it when the share price is on its knees.
All IMHO of course, DYOR etc.|
|stinto: Is does make you wonder, otherwise that would have killed the share price, so someone seems happy to take them in lerge quantity.|
|noexpert: MM trying to panic us all into selling therfore share price drops and they buy back in at a cheaper price then wait for the good news - i wouldn't worry too much this is still a prime share for a takeover or a rerate|
|nod: I'm not surprised to hear that staff are leaving. As an ex-client I can tell you there was something really rotten inside this company and it was probably orchestrated from the top. I'm sure many staff would have known precisely what was going on and had concerns about it. If they wanted to leave at the time there would have been nowhere to go. Dissaffected staff will leave when the opportunity arises, as the industry picks up.
I made two very substantial withdrawals in late 2007 with payments to two different banks. These should be settled in four days. In each case, SAM held on to my cash for two months. I had numerous correspondence and they took no action to get my funds to me. Clearly, they were deliberately withholding on my cash to help them out of a sticky time. Disgraceful for a bank.
At the same time, their share price was plunging. This indicated that many major shareholders knew the company was rotten.|
|greedy rooster: Subject: Re-organisations
Date: Wed 22nd Apr 2009 13:18:46
Company: Syndicate Asset Management PLC
Syndicate Asset Mgt - Statement re Share Price
RNS Number : 9888Q
Syndicate Asset Management PLC
22 April 2009
Syndicate Asset Management Plc
("SAM" or the "Company" or the "Group")
Statement re Share Price Movement
The Board of Syndicate Asset Management notes the recent movement in its share price and confirms that it has received a number of unsolicited preliminary approaches regarding a possible offer for the Company. The Board confirms that, having discussed the approaches with a significant proportion of the shareholders of the Company, it has rejected the approaches on the basis of the prices indicated, although discussions are ongoing.
The Board also announces the following update to the market. The Board has been in discussions since the end of 2008 with Royal Bank Scotland over the Group's current borrowing structure and the potential to breach its existing banking covenants due to the reduction in the Group's profitability in the second half of its financial year ending 31 March 2009. The Board is currently in discussions with its existing shareholders regarding a fundraising in order to repay some of the Group's borrowings, which, as at 31 March 2009 was approximately £7.8 million. As at 31 March 2009, the Group had a maximum aggregate amount of deferred consideration payable on previous acquisitions of up to approximately £10.4 million over the next 3 years, of which approximately £3.5 million is due to be paid in the next 18 months. Further announcements in respect of discussions with the Company's bankers will be made in due course.
Syndicate Asset Management plc
David Pinckney (Chairman) Tel: 020 7659 8060
Jonathan Freeman (Interim Joint CEO)
Peter Dew (Interim Joint CEO)
Stephen Keys Tel: 020 7397 8900
Relevant Securities in Issue
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Syndicate Asset Management plc confirms that it has 137,579,042 ordinary shares of 0.2 pence each in issue. The International Securities Identification Number for the ordinary shares is GB00B0GR9291.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of the Company, all "dealings" in any "relevant securities" of the Company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of the Company, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Company by the offeror or the offeree company, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel."
This information is provided by RNS
The company news service from the London Stock Exchange|
|nod: Hi zangdook - I ask about residency because I'm not a UK resident and I wondered if Syndicate targeted investors that were overseas on the basis that it is more difficult for us to complain to the authorities or to make contact with persons in a similar situation. We would not have known of the similarities in our cases had I not posted my story on here.
Yes, it was early October when I tried to sell but was asked for more identification, even though I held my funds since 1988 or thereabouts. They received my instructions to sell on 10th October and it was 20th October before my sale contracts (two contracts) were issued. The funds should have been received within 4 days. It was 24 December before I received all the funds.
Like you, I know the full details of my transactions and Syndicate's subsequent actions and communications. I have absolutely no doubt that their delays were not due to incompetence. The evidence of this is in their communications.
Hi Loverat - I will indeed report back if I find more. However, I think the authorities will have bigger fish in these troubled waters.
I'm a PBB member on advfn - have been since beta testing days, ten years ago or thereabouts. I'm not writing of my experience to deramp Syndicate - my comments will have no difference on the SAM share price and I don't care about it as I would never buy a share in SAM. If I were a customer of Syndicate I would be very concerned - but thankfully I'm not.|
|nod: Loverat - you are trying to make excuses for Syndicate's behaviour - possibly because you are a shareholder.
The reality is Syndicate deliberately held on to my cash and have never sent me their explanation, which they said they would over 6 weeks ago. I contacted them many times to the point of frustration and stress.
zangdook appears to have had the same experience. I will be asking around other boards.
Early in October, after SAM share price collapsed, I had considered buying some shares as there appeared to be nothing wrong with the company (other than the share price collapse). When they deliberately gave me the runaround it became clear to me that there was something seriously wrong with this company. Of that I have absolutely no doubt whatsoever. It was not incompetence, it was deliberate.|
Syndicate Asset Management share price data is direct from the London Stock Exchange