Symphony Environmental T... Share Discussion Threads

[anne69] 19/7/2019 23:40

Thanks Philjeans

[glavey] 19/7/2019 17:08

What's the difference between this and a placing with a sweetener?

[anne69] 19/7/2019 16:49

Wow, just picked this up. This was a 60% premium to current share price. Do you know who Indorama are?

[philjeans] 19/7/2019 16:22

Clearly the significance of this missed by the wider market.

Smart money coming in here on Monday!

[philjeans] 19/7/2019 12:59

So; a very wealthy Singaporean family have bought a big stake here, at a premium price of 12.5 p and want a lot more later at 20p and 25p !!

Excellent news - -obviously see opportunities across Asia allied to their own textile businesses.

Take-over potential here in short order.

[philjeans] 19/7/2019 12:56

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony" or the "Company")
Equity subscription raising GBP1.93 million,
Grant of 10 million warrants and
Total Voting Rights
Symphony Environmental Technologies Plc (AIM: SYM), a global specialist in making plastic more suitable for the global environment, is pleased to announce an equity subscription for 15,456,900 new ordinary shares of 1p each in the Company ("Ordinary Shares") by Vincel Investment Holdings Limited ("Vincel"), at a price of 12.5p per Ordinary Share ("Subscription Price")(the "Subscription"). Gross proceeds from the Subscription are GBP1.93 million.
In addition, 10 million warrants have been granted to Vincel (the "Warrants") as follows:

No. warrants Vesting period Exercise price
granted
26 July 2019 to 25 July
5,000,000 2020 20p
------------------------ ---------------
26 July 2019 to 25 July
5,000,000 2021 25p
------------------------ ---------------

The issue and allotment of new Ordinary Shares pursuant to the exercise of the Warrants are also conditional upon shareholder approval at a General Meeting to be held within three months of the exercise date.
Upon completion of the Subscription, Vincel will be interested in 9.1 percent of the enlarged issued share capital of the Company. Vincel is owned by Mrs Shruti Lohia, daughter of Mr S P Lohia. Mr Lohia is the Chairman of Indorama Corporation, Singapore.
The proceeds of the Subscription will be used for ongoing working capital purposes and Symphony's continuing development and investment in a range of core complementary technologies.
Due to Vincel's holding in Symphony upon completion of the Subscription, together with the potential further Ordinary Shares due upon exercise of the Warrants, the Subscription and grant of Warrants are considered to be a related party transaction in accordance with the AIM Rules for Companies.
Accordingly, the board of directors of the Company consider, having consulted with the Company's nominated adviser, that the terms of the Subscription, and the grant of Warrants to Vincel, are fair and reasonable insofar as the Company's shareholders are concerned.
The Subscription is conditional upon admission of the new Ordinary Shares to trading on AIM which is expected to commence on 26 July 2019 ("Admission").
The new Ordinary Shares issued pursuant to the Subscription as well as the Ordinary Shares to be issued upon the exercise of the Warrants will rank in full for all dividends or other distributions hereafter declared, made or paid on the ordinary share capital of the Company and will rank pari passu in all other respects with all other Ordinary Shares in issue.
Total Voting Rights
Following Admission on 26 July 2019, the total issued share capital of the Company will be 170,026,277 Ordinary Shares. The Company does not hold any shares in treasury and therefore the total number of voting rights in Symphony is 170,026,277.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Enquiries

[buywell2] 13/6/2019 10:41

Plastic is not needed today


The world managed without it for thousands of years


It is polluting the planet and killing wildlife as well as humans


The average WEEKLY consumption of an adult is now equivalent to eating a credit card

[gripfit] 11/6/2019 13:02

Rather a big purchase that ?? 185000

[robertnash2] 08/6/2019 12:53

SET has no unique patented technology which ultimately will be their downfall as new bioplastics are coming to market. Oxo-Biodegradable plastics are fast becoming unpopular, in many cases they do not do what they claim. The new breed of Bioplastics are becoming more common place imho.
Check out the following website hxxps://bioplasticsnews.com/2019/06/08/navigating-the-fast-changing-landscape-of-bioplastics-and-biomaterials/

[robertnash2] 02/6/2019 15:24

Well put Neilrr, surely it is time the OAPs are put out to pasture!

[robertnash2] 01/6/2019 17:57

2002 to 2018 £11,523,000 average pa £680,000. The BoDs took between 2009 and 2015 £6,070,000 average pa £867,000 not bad for company that has shown losses in most years.

[robertnash2] 01/6/2019 10:38

A small Australian company OxoPak Pty Limited has received approval for the nation's first certified trademark for oxo-biodegradable plastic products. Congraulations John James (ex Symphony) of Wells Plastics. Unlike Symphony Wells design and manufacture their own additives giving the company a great advantage

[neilrr] 31/5/2019 10:34

Jailbird a live link.



SYM is a lifestyle company established to enrich the Board & their families. Whether their products work or not, indeed whether they can sell them or not, is immaterial as long as fresh waves of naive well meaning greeny mugs jump aboard at regular intervals. It is a very cynical business model.

Some time ago someone (I think it was Robert but may be wrong) calculated that the BoDs have been paid every penny & more that SYM has ever realised as a profit.

And no, they do not degrade at anything like the way SYM would have you believe.

[jailbird] 30/5/2019 22:37

Interesting Do biodegradable bags really degrade? - Mashablehttps://apple.news/AtKKHMzLpTnyXePcvUoJd3g

[swiss paul] 28/5/2019 19:36

wow that was sometime at the trough - wonder what his pension will be like - oh hang on can we not give him a job as a NED? Dont want to see him on the bread line

[neilrr] 27/5/2019 10:25

Fixed that for you.

Peter Susman QC has published his SYM paid for findings and unsurprisingly the bought & paid for case for d2w is tarted up as compelling to attract a new tranche of mug money.

HTH.

Hats off to Michael Laurier for keeping one of the most pointless lifestyle companies on AIM going for the better part of 20 years.

Since SYM have never been able to sell any meaningful quantities of their unpatented, unloved & unwanted product I can't see any reason whatsoever for any change in their prospects.

Possibly some good news coming out of the Brexit kerfuffle, am I mistaken or has that seasoned trougher Nirj Deva lost his seat as an MEP?

[jsforum] 25/5/2019 20:11

There is a distinction between oxo-degradable and Symphony's Oxo Biodegradable d2w products.Peter Susman QC has published his findings that the case for d2w is compelling

[bbmsionlypostafter] 25/5/2019 00:55

This has baseless ramp written all over it.

[gripfit] 24/5/2019 22:36

This has 20 p written all over it imho

[gripfit] 24/5/2019 22:35

Yep,, a penny and a half a week will do me