Synthomer Share Discussion Threads

[philanderer] 30/7/2019 16:05

Yes, I added 10% at 307p too.

edit: Interims next tuesday.

[gilesy] 30/7/2019 12:20

bought more today at 3.09
good long term hold

[philanderer] 30/7/2019 10:42

RNS:

Following the announcement made earlier today by the Company regarding the number of valid acceptances received under the 1 for 4 rights issue announced by the Company on 3 July 2019 (the "Rights Issue"), the Company announces that Barclays Bank PLC, Canaccord Genuity Limited, HSBC Bank plc and Citigroup Global Markets Limited (the "Underwriters"), as agents for the Company, have procured subscribers for the remaining 5,529,577 New Synthomer Shares for which valid acceptances were not received and 967 New Synthomer Shares representing fractional entitlements by 11.00 am on 29 July 2019 (representing approximately 6.5 per cent. of the New Synthomer Shares) at a price of 302.9 pence per New Synthomer Share.

[riostroy] 30/7/2019 10:41

A falling stone

[philanderer] 30/7/2019 09:25

(Alliance News) - Chemicals business Synthomer PLC on Tuesday said it has received 93% acceptances for a previously announced rights issue, part of a major acquisition.

Synthomer announced the rights issue, worth GBP204 million, at the start of July, following the USD824 million acquisition of fellow specialty chemicals firm OMNOVA Solutions Inc.

The 4-for-1 rights issue, priced at 240 pence a share, was accepted by 79.4 million of Synthomer shares, 93% of those under the offer. The underwriters, Barclays Bank PLC, Canaccord Genuity Ltd, HSBC Bank PLC, and Citigroup Global Markets Ltd, have until 1700 BST on Wednesday to find subscribers for the remaining shares.

If they do not, the underwriters will take them up themselves.

[philanderer] 30/7/2019 08:39

94% rights take up...It is expected that dealings in the New Synthomer Shares, fully paid, will commence on the London Stock Exchange's main market for listed securities from 8:00 am on 30 July 2019.

[philanderer] 26/7/2019 16:54

Stack of nil-paid rights sold by non-exec this week. Could be to finance purchase of new ones.

[philanderer] 16/7/2019 13:49

I'm with Selftrade and received an email yesterday saying how much would be deducted from my account if I wanted to take up my Rights. Deadline is 29th july for money to be taken out.

Epic for nil paid is SYNN.L


HTTPS://finance.yahoo.com/quote/SYNN.L?p=SYNN.L&.tsrc=fin-srch

[jaws1] 16/7/2019 13:49

Had to phone IGindex today to take up rights

[zobey] 15/7/2019 18:29

Bought in on 5/7/19. Haven't received anything about rights issue. What should I have got by now? I thought I would be able to sell the rights today. What would I get if I didn't take up issue? Seems to be very little info around.

[philanderer] 11/7/2019 09:16

Still plenty selling before SYNT goes xr monday .. nearly 300k printed so far this morning.

[philanderer] 10/7/2019 17:03

It is expected that Admission will become effective and that dealings in the New Synthomer Shares (nil paid) will commence by 8:00 am on 15 July 2019 and in the New Synthomer Shares (fully paid) by 8:00 am on 30 July 2019.

The latest time and date for acceptance and payment in full for the New Synthomer Shares by holders of the Nil Paid Rights is expected to be 11:00 am on 29 July 2019.


HTTPS://www.synthomer.com/fileadmin/files/ir/omnova_acquisition/Ghost%20-%20Prospectus%20%28FINAL%2010%20July%202019%29.PDF

[philanderer] 10/7/2019 16:57

Well there's definitely a big seller(s) about today.. 800,000 shares traded.

[pottsypotts] 10/7/2019 14:42

Thinking at today's price of 3.60 a share, rights issue 1 @ 2.40 for 4 owned= £3.36 a share?

[philanderer] 10/7/2019 11:29

Nobody believing that article by the look of it ;-)

Chart support looks to be 350p then back 3 years to 308p

[philanderer] 10/7/2019 00:03

Synthomer: An Attractive Bull Case Following Omnova Acquisition


HTTPS://seekingalpha.com/article/4274128-synthomer-attractive-bull-case-following-omnova-acquisition

[philanderer] 09/7/2019 08:15

BASF Profit Warning Drags Down Shares of Rival Chemical Makers



HTTPS://www.bloomberg.com/news/articles/2019-07-08/basf-cuts-2019-outlook-citing-trade-conflict-industrial-output?cmpid=BBD070919_MKTEU&utm_medium=email&;utm_source=newsletter&utm_term=190709&utm_campaign=marketseurope

[philanderer] 08/7/2019 23:07

Moody's Affirms Synthomer's Ba2 Rating But Cuts Outlook To Negative (Alliance News)

(Alliance News) - Moody's Investors Service on Monday affirmed the Ba2 corporate family rating of Synthomer PLC, but changed its outlook to negative from stable.

"Synthomer's announced acquisition of OMNOVA Solutions Inc is a good strategic fit and improves the company's scale and geographic diversification. However, the acquisition will result in Synthomer's leverage exceeding our guidance for the Ba2 rating and we expect that the company's leverage will remain elevated until 2021," said Sven Reinke, a senior vice president & lead analyst for Synthomer.

The affirmation of the Ba2 rating takes into account Synthomer's continued commitment to lowering net leverage and the company's strong historic track record of integrating acquired


HTTP://www.morningstar.co.uk/uk/news/AN_1562604109531092100/moodys-affirms-synthomers-ba2-rating-but-cuts-outlook-to-negative.aspx

[philanderer] 05/7/2019 09:05

Nice dividend into the account this morning :-)

[philanderer] 04/7/2019 18:57

Good follow through today. Rights issue should go well. I'll be taking up all mine.

[philanderer] 03/7/2019 18:47

'Synthomer set for global expansion after American acquisition'


HTTPS://www.sharesmagazine.co.uk/news/shares/synthomer-set-for-global-expansion-after-american-acquisition

[philanderer] 03/7/2019 13:19

...or maybe not ;-)


Anyway, Peel Hunt reiterates 'buy'

[philanderer] 03/7/2019 11:18

This morning's analyst and investor presentation looks to have gone well :-)

[pottsypotts] 03/7/2019 08:44

1 for 4 shares you already own at £2.40 market recovered in a positive fashion already today, have people decided it's not a bad move? Or those sneaky MM playing games again