Symphony Environmental T... Share Discussion Threads

[anne69] 24/4/2014 17:16

Interesting that again another 2.5m shares traded at 9.5p.

Ax

[anne69] 24/4/2014 09:57

Interesting trade yesterday at 16.00 - 2.5m shares at 9.5p. This showed on ADVFN after close but not on google finance.

Ax

[bbd2] 18/4/2014 11:25

Interesting:

hxxp://www.plasticsnews.com/article/20140407/NEWS/140409938/biodegradable-additives-supplier-opens-research-lab-in-mexico#.U0hp23L_vq4.twitter

[bbd2] 18/4/2014 11:20

You never know with SYM. Google Treasury Shares for a full explanation of what they can be used for.

In reality, I suspect the rise is due to this:

"In particular we have been notified of a new contract award through one of our distributors for d2w from a major supermarket group. The volumes indicated, but not yet verified, are significant. The delivery program starts from April, with full roll-out before the 2014 year-end. This follows more than two years of development work which demonstrates the length of time it can take to close a major sale opportunity."

or perhaps the new product being developed with JJ is ready for revealing.

[myview] 18/4/2014 09:34

bbd2 - are you suggesting that SYM might buy back some of their own shares? If so, where do you see the funds coming from - are they not extremely short of cash if they can justify paying 2% per month for just £150k?
Can you explain what you mean when you say it would be an indicator of sector activity.

[bbd2] 17/4/2014 15:03

I see Cantor reiterated its buy last week with a target of 17p.

I wonder if we shall see some Treasury shares being purchased in the near future. The authority was given in 2010 and would be a key indicator of sector activity.

[mattjos] 17/4/2014 14:47

whatever it is, cantor are soaking up the selling after pushing it up fast. There looks to be a determined buyer today - on what would normally be a dead quiet day

[bbd2] 17/4/2014 14:29

gnmartin -ouch. Have done it myself a number of times and sold too early, most notably with QXL !

I wonder if a big contract award has been leaked or has the sector consolidation started at last.

[mattjos] 17/4/2014 14:04

poftie, neil & boring co have given up the ghost, thereby signalling the floor was in :-)

[chrisgail] 17/4/2014 13:52

Up 26% any ideas why?

[mattjos] 17/4/2014 11:52

poftie ... distinct lack of vision you exhibit

[robertnash2] 14/4/2014 16:39

I am somewhat surprised at the CEO's comments,"SRT has no revenues to date and incurred expenditure of GBP0.81 million for the year, resulting in an EBITDA loss of the same amount (2012 expenditure and EBITDA loss: GBP0.27 million". No sales and as far as I can see no IP. A very sad state of affairs after the RuPERT Project showed so many possibilities. The figures quoted bearing in mind those of previus years in my honest opinion I find hard to comprehend?

[gnnmartin] 14/4/2014 12:30

No mention in the annual report of the K-show success. I suspect that at trade shows most of the business is done later: I doubt if many orders are placed on the spot. So the 'record number of orders taken during the show' may not be all that significant, except as (hopefully) an indication of rising interest.

I note that the annual report (page 10 'Outlook') says 'our sales outlets continue to expand in number and volume'. I can't see what 'volume' means in that context: it doesn't mean revenues, because although this year's revenues were well above 2012's, they were below those of 2011 and 2010. The outlook does say that a new contract with 'significant' indicated but not yet verified volumes will be kicking in by this year end, but I'm getting almost a cynical as neilrr. No details of the deal with Janssen in the annual report (or elsewhere). Just a statement (on page 15) that "After two years of collaboration, Symphony and Janssens have developed a new system for giving plastic products anti-fungal and other anti-microbial properties." No statement that Janssen are going to market it (as opposed to write it off, or let SYM market it and pay royalties to Janssen).

Receivables have more than doubled to £1.16m whereas revenues only rose 45%, which is a little worrying, but at 16% of revenues that is still far from as bad as 2 years ago when receivables were 44% of revenues. It was the drive to cut down on the late (never?) payers that knocked revenues back last year. At first glance one might conclude that revenues have nearly recovered without receivables climbing back to the level at end 2011, but receivables which in reality are bad debts can accumulate over time if management don't want to face that reality.

This loan at 2% per month, outrageous as it is, is in fact simply a device for paying the Lauriers an extra £36,000 a year, with the added advantages that there is no NHI contribution associated with this extra money, and the income is Mrs. Laurier's rather than Michael's. As such it is more a matter for HMRC than for shareholders. Shareholders need 'only' be concerned with the total of directors' salaries.

Symphony do an excellent job of promoting auto-degrading plastics, but I have no faith that the shareholders will ever benefit from this, and much as I support the aims of the company, I have lost patience with the lack of clarity bordering on outright deception. I've sold my last 20,000, and I will try to be strong minded enough to ignore what happens from now on.

[robertnash2] 14/4/2014 07:16

At least the board did not go to Wonga.com

[neilrr] 13/4/2014 20:11

Does anyone have contacts within the media, in the press or at Private Eye?

They love stuff like this.

[robertnash2] 13/4/2014 19:56

Leopards do not lose their spots..........this board is proving it time and time again. It is totally unacceptable that Mrs Laurier earns 2% per month. Most probably her husbands money unless she won the Lottery. How can the board approve such interest charges? Diva, Stephen and Laurier should be ashamed of themselves as they obviously cannot raise funds from normal banks, I will give funds matching Mrs Lauriers at 1.85% per month. Anyone want to join me?

[poftie] 13/4/2014 18:22

Neilrr, the one that makes me smile is as follows:Mattjos - 21 Feb 2014 - 10:23 - 4375 of 4426 - 2chart is looking good on a longer term basis now. would not be surprised to see this back at 17p+ this year & over 30p next year. I'll take that.He'll take 17p -- hilarious!!!!!

[neilrr] 12/4/2014 10:59

Did anyone ever find out what SYM were talking about in their 28.10.13 Trade Show Update RNS when they said:

"This year's K-Show proved to be the best so far for Symphony, with a record attendance at its stand and a record value of orders placed during the show."

Were they referring to the number of expense account drinks they necked or the number of pizzas they had delivered to their very expensive stand?

I remember some on here placed great stock in that pronouncement & were expecting great things to be revealed in the Final Results.

[gnnmartin] 11/4/2014 18:14

Looking in in spite of selling up (well, I sold almost everything, but kept the 20,000 certificated shares: I used to try to keep some shares in certificated form, but my broker has made it ridiculously expensive to deal certificates). Having virtually sold up I did not look at the accounts very closely, and I thought that Robert Nash must be talking about the past when he talked about a loan to Mrs Laurier at 2% per month. But no, they've done it again: it is outrageous! That's an APR of almost 27%!

Having very little financial interest I can't work up the effort to fight this. I shall probably sell my last 20,000, but if I don't get around to doing that I shall vote against the accounts. At the very least the need to take on this usurious loan should be spelled out in the chairman's statement.

Last time Mrs. L. lent money (on the same terms) the loan was almost the last to be paid off: cheaper debt was cleared first.

You really do have to look quite hard to notice this outrageous loan. The chairman's and the CEO's statements both sound very upbeat with no mention of the need to borrow. Just a little mention in notes 19 and 23 stating the existence of and terms of the loan, without comment. And they have the gall to write "The Group seeks to reduce its exposure to interest rate risk where possible" (note 3). They reduce the exposure to interest rate risk by taking a loan at a fixed APR of 27%.

I'm left spluttering!
Nigel Martin

[robertnash2] 11/4/2014 16:41

It seems that so many Bloggers are quite rightly fed up with this incompetent board headed up by Deva, Stephen and Laurier so why don't the shareholders turn up at the AGM and let (as Neilrr would say) this sh-t management give some answers. Off on holiday but will follow with interest.

[poftie] 10/4/2014 13:13

Just received the Report and Accounts.
What a total disgrace on so many levels to be paying the wife of the MD 2% interest per month - and to an 'unconnected' individual 12% per annum. Aside from the utterly shocking corporate governance aspects, it will surely make anyone wonder a) how desperately short of cash SYM must be and b) why no commercial lender will lend them what they must need.
And so the plunder continues....It's no surprise that the pigs themselves are not going to volunteer to leave the trough.

[robertnash2] 09/4/2014 15:35

neilrr sounds like an advert!