||EPS - Basic
||Market Cap (m)
Syqic Share Discussion Threads
Showing 1076 to 1097 of 1100 messages
|Well, I know I have been accused of being too optimistic, but only a 2 week extension, suggests we will know our fate soon..........!!!|
|Dreading another deadline tomorrow....................|
|yump - the company would automatically have been delisted at the end of June if it had not already been suspended. AIM rules require publication of audited annual results no later than 6 months from the F/Y end date. As this was 31/12/15 the deadline for the results to comply with this requirement was 30/06/16, which was 16 weeks ago. This also means that the existing suspension cannot be lifted, and so the shares cannot be readmitted for trading, without the prior or concurrent publication of the 2015 audited results
In my view the two most likely outcomes are:
1) A token offer at some point by Bidco - remember the company apparently owes Hassim circa £650K or the equivalent of 2.5p per share - so this could either constitute the total takeout price which would offset the entire debt - or constitute a large proportion of any agreed final price with any residual financial balance going to secured creditors.
2) No offer is made and the company goes into administration.
Either way I cannot see that there is likely to be any return for existing shareholders.|
|And that will.of course come in the middle of the Christmas holidays,when nobody is looking.|
|All they need to do is wait 6 months, then they'll have to delist. Then free to disappear into the ether. Actually much less than 6 months now.|
|Well, it was at the suspension price because we knew there would be provisions, I guess the question now, is how much..? I note only a 3 week extension this time...|
|Another deadline this week............come on guys|
|RNS out. Seems to be preparing us for how good Jamal is to take the company off us ...
Loans by a director to the Company
As previously announced the Company has for some time had a high level of outstanding debtors and the Company's management team has been working to reduce this amount, but with slow progress. The Board of SyQic believes the debtors are largely recoverable but the low frequency of payments has put pressure on the Company's working capital position.
As a consequence, since June 2014 SyQic has received a number of loans and other financial support (together the "financial support") from Jamal Hassim, the Company's CEO. The financial support provided to the Company, that has accumulated since June 2014 until the end of August 2016, is made up as follows:
Salary not drawn by Mr Hassim GBP195.0k
Amounts lent to the Company by Mr Hassim GBP302.9k
Expenses paid on behalf of the Company by Mr Hassim GBP114.0k
Total financial support GBP611.9k
All the financial support is unsecured, interest free and does not have a set repayment date. Mr Hassim is expected to continue to forego his salary for the time being and may provide additional similar financial support in the future as necessary.
In addition, the loan of MYR300,000 (being approximately GBP55,000) provided by Mr Hassim to the Company as per an agreement dated 12 November 2013 (and as set out in the Company's Admission Document dated 29 November 2013) remains outstanding. This loan is unsecured, interest free and does not have a set repayment date.
The provision of the financial support by Mr Hassim to the Company constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The Board of SyQic save for Mr Hassim, having consulted with the Company's nominated adviser, Allenby Capital Limited, consider that the terms of the financial support provided by Mr Hassim are fair and reasonable insofar as the Company's shareholders are concerned.|
|Just frustrated to be still stuck in these, if only I had been clever enough to sell on a 'spike'.......|
|"masurenguy is like a rubbernecker at an rtc"
As a former investor here I have a genuine interest in the outcome. Meanwhile, you just continue to make ridiculous claims and when challenged you are totally unable to substantiate them. Instead you just resort to personal sniping.|
|masurenguy is like a rubbernecker at an rtc.............|
|its the accounts that need sorting and publishing!|
|I think we may have some clue about the level of a bid,if any,from the recent transaction at 18p|
|I have spoken to the Takeover Panel. Their rules on postponements were originally introduced to protect offeree companies. I pointed out that,in this case, the offeror and offeree sides were represented by the same parties since the original board were colleagues of the CEO. It was the shareholders that needed protection and their interests are being damaged by unlimited postponements.I was told this would be circulated.I expect to contact the FCA next week .|
|'Frustrating', a bit of an under statement, I'd say.
I'd like to think the takeover panel are acting professionally & needing to see something substantial indicating there is light at the end of the tunnel getting closer at each deferral - but who knows ?
This must be hugely frustrating & distracting to the employees etc trying to run the business, hope the uncertainty is not eroding what value may remain here (if any).
Wish I'd listened to those on here who flagged up the ever increasing receivables - note to self about rose - tinted glasses, I think !
My guess is there are two likely outcomes:
1). The receivables get paid & we all smile.
2). The accounts eventually get published with a huge chunk written off. The co. comes back from suspension & the share price gets trashed. Bidco then pounce at a low price & we all have a moan about lack of governance on AIM.
Take your pick.
|"the language has been gradually improving"
What!!!!............can you explain that comment since the "language" has been exactly the same in every one of the bid extension announcements ! Meanwhile, they still have not produced audited accounts for the year ending 31/12/15 nor can they provide a date when they will do so.
"but I remain hopeful" Lol - you must be one of Camelot's most loyal punters !|
|Whilst frustrating, the language has been gradually improving, clearly lots to deliver but I remain hopeful..!?|
|We know where this is going don't we.
Driven into serious problems by non-payment and then taken over by some unrecognisable names for 1p a share, while any recognisable names do one quietly and get another board appointment at 100K a year in a small and innocent company, where they can bring their vast 'experience' to bear.
Shame I can't bet on it - perhaps Billy Hills would take it on...|
|Another deadline approaches, e mailed the company for any comment, heard nothing........|
|What is particularly infuriating is that the MYR is now 5.15 to the £ against about 6 in Feb when the "receivables' were almost £15m so they should now be of the order of £18 m, or almost 60p a share.To say nothing of a substantial increase in profits,whatever that is worth.|
|Another delay.....I am not up with the rules on this. How many delays are they allowed to have (or how long may be the correct question) ?Trading update wouldn't go amiss.|
|This is moving from a shambles to a complete farce. What's next ? Aanother delay, resignation of advisors or auditors - just a big black hole with regards news flow.
On the accounts do we have stalemate ? The Auditors, I'm guessing, will not sign off without a write off of some of the receivables. The CEO obviously believes they are recoverable although history would indicate otherwise.
On the buy-out or whatever we want to call it, CEO obviously can't make this happen. I don't suppose anybody wants to stump up any money without published accounts.
What about the rest of the board of directors, particularly Cotterell the Chairman - shouldn't we expect a bit more from them.
Not optimistic here, have pretty much written my holding off. I hope not but looks like another company headed to the AIM dustbin.