Syqic Share Discussion Threads

[mikeja] 18/4/2016 14:17

Hopefully suspension will be restored tomorrow.

[mikeh30] 18/4/2016 14:02

Look at the chaos in AST when the board admitted a bid was on the table. Price went nuts, the bid was pulled etc. If there is a bid on the table much better to suspend.

[fft] 18/4/2016 14:02

mikeja,

did he give any indication as to how long the 'temporary suspension' might last for ? 1 day, days, weeks ?

[mikeja] 18/4/2016 13:56

Talked to Allenby who vouchsafed nothing but did not sound too suicidal to my ear.Incidentally,yump,shares are normally suspended if the board have received a bid and I have no idea why an EGM would be needed.

[fft] 18/4/2016 13:44

My bet is that (given its the time of year for this) the auditors are unhappy with something in last years accounts and want them restated and the issue fixed in this accounts as well. cash ? revenue recognition ? dodgy invoices ? write offs ? Who knows. Management have probably kicked back and the auditors threatened to resign, so they have suspended the shares whilst working out what to do.

Its not going to be pretty though.

BTW, Be more than happy to be shown to be wrong !

[yump] 18/4/2016 13:34

Shares aren't normally suspended if there's a bid and a takeover of the company doesn't just happen without an EGM or something similar.

My guess is either a large acquisition, as they seem unable to make a profit and get paid, so that's the usual course of action. Do a big takeover and muddy the waters with a 'global dominance' type announcement.

Or bust.

So this is the last of my overseas mini-punts to be written off. No more. Ever. Fortunately not much of the portfolio. Overseas growth markets - Pah ! you can keep them.

[mikeh30] 18/4/2016 13:11

"In addition the Company has access to a GBP3m working capital facility should it ever be required"So hopefully not run out of cash.Could be takeover or acquisition news?

[mikeja] 18/4/2016 12:33

Certainly didn't expect that rapid a reaction !!!

[mikeja] 18/4/2016 12:29

Apparently suspension should not be too long. Which sounds more hopeful than not.

[androyd] 18/4/2016 11:47

It's a temporary suspension so that hopefully rules out option 3!

[red_shed2000] 18/4/2016 11:41

Let's pray for option 1!

[fft] 18/4/2016 11:37

Mikeja, That scared them so much they have suspended the shares !! Options - 1. Taken over. 2. Revenue has not been received 3. Contracts cancelled - company bust. Any others ?

[mikeja] 18/4/2016 07:23

Sent Allenby an email suggesting a trading update is well overdue and reminding them that any downturn has to be reported. They have passed it to board,hopefully we will get some guidance this week.

[mikeja] 02/4/2016 07:21

MYR closed at 5.54.

[mikeja] 22/3/2016 15:03

The year end figure was about 6.30 I think. If it stays around here there should be a gain of £700k.

[aishah] 22/3/2016 12:54

yes, was 6.72 back in Sept. I'm adding as and when I can.

[mikeja] 22/3/2016 12:36

MYR is now at 5.71,looks like a big exchange gain this year.

[aishah] 11/3/2016 14:41

I've been adding recently during this overhang. p/e of around 2.2 on Allenby's fcst

[nick rubens] 29/2/2016 11:23

What's the big worry here?

Trade receivables not going to be paid? That's like having a business that never really gets paid?

[androyd] 25/2/2016 18:52

Big sell on Tuesday, 810k!

[mikeja] 28/1/2016 10:46

The MYR is continuing to surge, Now 6.03 to the £ as against 6.35 at the year end.Given that SYQ is owed around £8m,it looks increasingly likely there will be a strong fx credit for the current year.

[mikeja] 21/1/2016 11:29

If they were going to do that they would have done so when price was sub 20p

[rambutan2] 20/1/2016 05:03

Utilico can be quite an activist manager. SYQ is much smaller than they'd normally be investing in. So why? Perhaps they're waiting to step in with funding - at a dilutive cost to everyone else of course. Just a ponder...

[masurenguy] 19/1/2016 16:34

Utilico appear bullish, increasing their stake several times in December. They now hold over 9%.