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Syqic Share Discussion Threads
Showing 1126 to 1147 of 1150 messages
|Count me in too.|
|Count me in Mike|
|On the cards,massive dilution via share issue,underwritten by Jamal and his best mate.Shareholders committee has been formed,anyone interested ?|
|Another Allenby fraud goes belly up.
Special thanks to David Cotterell for his outstanding performance as an "independent " director looking after the interests of shareholders.|
|chrisdgb 21 Dec '16 - 14:03 - 1090: Bust announcement after 4.30 then.
Looks like chrisdgb has finally given up the ghost and seen the light !
chrisdgb9 Nov '16 - 1064: Hopefully an offer is reasonably close
Masurenguy9 Nov '16 - 1065: This is totally unlikely to ever relist. If an offer is ultimately made it will be for pennies - probably circa to 2.5p per share, which is equivalent to the outstanding £650K loan made by Hassim. Otherwise it will just go into administration. Either way, there will be no return for external shareholders.
chrisdgb9 Nov '16 - 1066: I think you missed the zero, as in 20p per share.
Masurenguy9 Nov '16 - 1067: LOL - it must be nice living in your head with Peter Rabbit and the Tooth Fairy!
chrisdgb 14 Nov '16 - 1077: Despite the knocking from certain people, maybe a fundraising is the best idea, the overdue payments now have a clear roadmap of monthly payments for the rest of this year and into 2017. This is a business suspended on less than 2x eps. Yes, the bid falling away is disappointing but I want to fight for it.
Always a bitter pill to swallow when you have just become cannon fodder for principals who have been paying themselves big salaries while the business heads for a delisting leaving external shareholders high and dry. It has happened to all of us at some time or another in the past but the important thing is to learn from these situations so that you don't get caught by them again in the future.
I really hope that remaining shareholders did not lose too much and that you have a better year in 2017 which enables you to more than recover the losses you've incurred here.|
|Bust announcement after 4.30 then.............|
|Just attended AGM by phone. Farcical and shambolic come to mind. Thanks Allenby for bringing yet another heap of dung to the market.|
|I think one question is to ask Jamal how he justifies his salary of £235000 pa whilst driving the company off a cliff.|
|I will be unable to attend although I would like to as I'd like to see the whites of their eyes & hear how they intend to re-float this sinking ship. I will explore the possibility of a phone in as you suggest.
I still cannot work out what is being planned here despite much head-scratching. The latest statemnt said..
'the Company is proposing resolutions to seek additional authority from Shareholders to support further issues of Ordinary Shares for cash of up to 40 million shares for so long as the Company's shares remain admitted to trading on AIM'.
As Jamal holds such a high percentage of the shares, is there really anybody else to convince (Utilco ?). Also, with only about 10 working days before quote is expected to be cancelled the statement makes little sense. The 'further isssues' implies more than one share issue, but if the share quote is suspended how can this happen ? I suppose once the AIM quote is lost they can do want ever they want.
Also, not sure that restoring the quote will achieve anything, Jamal clearly can't be trusted so most shareholders will just run for the exit at any price.
Maybe there is already a re-financing deal on the table that just needs a rubber stamp after shareholder approval.
I can only believe Jamal's end-game is to take it private, one way or the other and I expect PIs to be left with little or nothing in the process.
But we live in hope .....
|I missed the roadmap reference as well.
Although any use of the word 'roadmap' pretty much puts the scuppers on it imo ;-)
Its in my list of 'sell' triggers, along with 'challenging', 'strategic review' and the rest.
(I'd put my bets on someone having exercised a roadmap to riches here at shareholders expense though.)|
|AGM set for 21st December, could get tight on the timing..!|
|Appreciate your thoughts, some of the most sensible posted on here...|
|chrisdgb, difficult to know given the lack of transparency over the receivables.
I guess if I was Cotterell I'd be trying to raise enough to enable the company to be described as 'a going concern' & hopefully remove the suspension. That wouldn't take much, a few million I suppose & he might be able to organise that before the end of december. Of course that would only be a stay of execution.
Can't really see anybody putting any serious money into this unless acounts clarified and of coure we now know the CEO is not to be trusted. Could get a punitive loan/share dilution from a predatory VC company I suppose.
Looks like the CEO has completely out-flanked the rest of the board & shareholders, doesn't say much for the Chair's abilities does it. Think they should have put us out of our misery & accepted the low ball offer, whatever that was.
|Any views on how much cash we think they need to raise..??|
|chrisdgb - 1077:"the overdue payments now have a clear roadmap of monthly payments for the rest of this year and into 2017"
I obviously missed that! What I read in the last RNS was as follows
"The financial statements for the year ended 31 December 2015 contained a qualified audit opinion as the Company's auditors were unable to obtain sufficient audit evidence to assess the recoverability of the Company's trade debtors. Additionally, the audit opinion for the year ended 31 December 2015 included an emphasis of matter as the Company's ability to continue as a going concern is dependent, inter alia, on the collection of trade receivables and its ability to raise additional funding. As a consequence, the Company's shares remain suspended from trading on AIM."
yump: "This will be likely be delisted on 28th Dec. No evidence to suggest that anything else will happen. Also its very dodgy that nobody seems able to assess the likelihood of the receivables being received."
A much more realistic view and this still appears to be the most likely outcome.|
|This will be likely be delisted on 28th. Dec. No evidence to suggest that anything else will happen. Also its very dodgy that nobody seems to be able to assess the likelihood of the receivables being received. Which makes you wonder exactly who really owes them and at what actual level, because they are supposed to be large telecoms operators. How invisible can they be ? Syqic supposedly managed to do plenty of business with them. So did they just write I-owe-u's on a bit of paper and Hassim said 'OK' that's fine.
The whole thing stinks.|
|Despite the knocking from certain people, maybe a fundraising is the best idea, the overdue payments now have a clear roadmap of monthly payments for the rest of this year and into 2017..
This is a business suspended on less than 2x eps........
Yes, the bid falling away is disappointing but I want to fight for it...|
|or it goes bust and the directors pick it up for a song out of administration....happens far too often....why bid 10,20,30p when you can pay next to nothing....hope that doesn't happen and that it gets reinstated etc......DYOR and IMO...shame NEDs could not agree a price. Barmy given its position..|
|Incidentally an AGM is long overdue.|
|What would be nice would be to have a frank statement from the independent directors about the level of the bids and where we go from here. There seems to be a strong case for appointing forensic accountants. The current auditors have a very mixed track record elsewhere. Above all the secrecy around what is going on needs to be lifted.|
|Jamal isn't going to buy the company. So what happens next ?Hopefully a lifting of the suspension and shares start trading again.|