Synthomer Share Discussion Threads

[justiceforthemany] 07/9/2023 09:20

WORST CEO IN HISTORY?
No punishment is too harsh.

[reddirish] 07/9/2023 09:04

For every existing share you own, you have the right to buy up to six further newly issued shares at a price of just under 10p. Subsequently, all those existing and new shares (including any that have not been taken up: that's the reference to fully underwritten) will be consolidated at a ratio of 20 to 1. My guess is that it won't be fully subscribed, so the consolidated price is likely to fall while the underwriters are unloading any overhang. If it is the first time you have faced a rights issue it can be a bit hard getting your head around, especially with the addition of a consolidation, but it is as others have said it's fairly basic stuff.

[muzmanoz] 07/9/2023 08:58

Theoretical ex rights price of 17.1p Surprised share price is still at this level. surprised share price is still at this level.

Rights issue is at an 83% discount to yesterdays close.

[wigwammer] 07/9/2023 08:48

Well the current chair, Caroline Johnstone, is still there. And she has overseen the whole mess up, from overpaying for big acquisitions to rights issues near the all time lows.

[meijiman] 07/9/2023 08:32

Yes it is now fairly clear that the previous management was utterly incompetent. KLK is supportive but don't suppose they had much choice really.

[bubloo] 07/9/2023 08:23

worth 38 pence with current share price.

[muzmanoz] 07/9/2023 08:04

12p at best

[nomolos1] 07/9/2023 07:49

Simple red flag is the longer the result waffle, the worse the performance. Rights Issue has been an obvious step the market whiffed for over a year - trading looks better for the coatings division this year. Not for windows and orphans this one.

[scepticalinvestor] 07/9/2023 07:41

This is basic stuff chum. Perhaps you shld stick to the geegees?

[bigbigdave] 07/9/2023 07:37

Article in post 1352 is poorly timed!

[farrugia] 07/9/2023 07:33

not sure i understand this?

Proposed 6 for 1 Rights Issue of 140,200,818 New Ordinary Shares at 197 pence per New Ordinary Share

and

Proposed Capital Reorganisation of 1 New Ordinary Share of 1 pence nominal value for every 20 Existing Ordinary Shares of 10 pence nominal value

when the current price is 60.80p?

[scepticalinvestor] 07/9/2023 07:29

So rights issue equivalent to what 32p p/share? OuchGl shareholders

[reddirish] 07/9/2023 07:22

Nasty. A rights issue equivalent to more than the current market capitalisation, so asking shareholders to double up our investments. Rock and a hard place here: there won't be much of a market for these when London opens. Set to be my worst ever investment by far. Will I subscribe? To be determined . I'm going to remember this one!

[nomolos1] 31/8/2023 20:01

Covid's now irrelevant for SYN - a one off hit. So much NBR capacity now online globally and it was only approx 25% of the business. Turn your attention to the eurozone coatings and chemical sector for hopes of recovery. Interims will be interesting.

[srichardson8] 31/8/2023 09:30

The surge in Covid cases comes as estimated numbers jumped by almost 200,000 last month, from 606,656 predicted cases on 4 July to 785,980 on 27 July, according to The Zoe Health Study, which estimates figures for UK Covid infections.
INDEPENDENT 31/8

[scepticalinvestor] 23/8/2023 12:50

Covid is over ladies. No need for gloves anymore. Sorry !

[tayle] 23/8/2023 12:42

What is the new breakout 13p ?