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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Syqic | SYQ | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 15.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 15.50 | 15.50 |
| Top Posts |
|---|
Posted at 16/9/2016 12:43 by masurenguy "masurenguy is like a rubbernecker at an rtc"As a former investor here I have a genuine interest in the outcome. Meanwhile, you just continue to make ridiculous claims and when challenged you are totally unable to substantiate them. Instead you just resort to personal sniping. |
Posted at 28/6/2016 13:16 by masurenguy "you must be delighted you are 'out' and the rest of us 'remain'"That says more about you than it does about me. I'm pleased to be out but I don't take "delight" in the misfortunes of other genuine investors because we have all had bad experiences at one time or another in the past. I only make an exception for the mindless cheerleader or stockbashing trolls who infest threads and are usually just sad and lonely people seeking attention. I've provided my interpretation of events here based upon facts and a rational viewpoint and I've also clearly explained why I exited SYQ in April. Everyone must make their own judgement calls in every situation and an informed debate assists in this process. Where SYQ is concerned we will all have to wait a little longer for the denouement but if they go into administration, or if Bidco buys them up for peanuts, I will feel sympathy for those remaining who lost here. After all I was a past investor and had originally seen potential here, exiting only when I perceived that they had run out of road (and cash). |
Posted at 21/6/2016 08:51 by masurenguy chrisdgb - 21 Jun'16 - 999: I cannot understand why you continue to offer such clueless speculationIf my posts are "just clueless speculation" then why don't you provide some "clued up insight" coupled with an intelligent contrarian view to challenge the facts and subsequent interpretation in my posts #934, 945, 953 and 985. So far you have completely failed to do this - instead you just attack me rather than address the actual data and issues that relate to the company. I comment upon the facts and give my interpretation on the information published by the company. Your posts are just meaningless remarks, often containing nonsensical claims like those in #989 below, and they also ignore reality. You're just a cheerleader for SYQ rather than a discerning investor! chrisdgb - 9 Jun'16 - 989: Remember from the last trading update that they are ahead of expectations.....I also thought the view was that one of the debtors had actually improved their payments in the last year, hence the feeling no provision was required............ chrisdgb - 8 Jun'16 - 988: Hadn't noticed but we made it to the Daily Mail market report today, highlighting that 1 year ago the shares were 47.6p......... chrisdgb - 7 Jun'16 - 984: The company remain in bid talks, what a crazy share price reaction....!! |
Posted at 07/6/2016 08:36 by masurenguy After 7 weeks there is still no indication of any acceptable potential deal on the table and the continued rescheduling of a deadline date does not augur well where shareholders are concerned.There has also been no news of any significant receivables collection since their trading update in April " The results from the management accounts for the year ended 31 December 2015 are before any provision against the amounts owed by the Company's principal trading partners. At 31 December 2015 the Company had outstanding trade receivables of £11.7 million (half year ended 30 June 2015: £8.4 million) and collections from the Company's primary customer had been less than previously anticipated by the Board. At 29 February 2016 trade debtors totalled £14.2 million. As part of the audit of the Company for the year to 31 December 2015, the Directors will be discussing with the Company's Statutory Auditor whether there should be a provision for impairment against the trade receivables, which could negatively affect the profit before tax for the year. In the Company's Annual Report for the year to 31 December 2014, the Statutory Auditor raised concerns as an 'emphasis of matter' in respect of the Company's credit exposure to SyQic's two largest customers. The Directors were of the opinion, at the time, that the debts were fully recoverable and thus no provision for impairment was required." Therefore nothing has changed since my view expressed at that time and the lack of any subsequent positive updates on payments suggest that finances might even have deteriorated further. Masurenguy - 21 Apr 2016 - 934: Just a small part of my portfolio but I took advantage of the spike at the open and sold my stake. It's a business with good potential but the trading update demonstrated that the increasing debtor position is deteriorating and not improving as expected. That is the key factor as far as I am concerned since the previously agreed repayment/collection schedule is obviously not being maintained. Since the two prime customers are overseas companies who account for over 90% of the business, there is little that they can do to recover receivables if they are delayed or not paid. These two debtors alone account for the annual sales of the whole business - circa £11.7m - and total debtors - circa £14.1m - account for 120% of the annual turnover. The business is viable if it can significantly write down, or even write off, the legacy debts but the existing company would only be in a position to do that if they could raise significant new working capital from existing, or new, investors. I doubt that the existing entity could do that so it raises questions about the future financial viability of the existing business especially if these receivables are going to be subject to bad debt provisions in this years accounts. A potential CEO led private equity buyout could potentially buy the business at a bargain price on the basis that even a low price would be better than the likelihood of virtually nothing from any potential insolvency and the price paid would effectively constitute a debtor write-down on the legacy business that Bidco would acquire. They could then focus upon exploiting the existing potential via Fortumo and other payment aggregators to overcome the receivables issue, which is blighting the current business. There are far too many financial risks going forward where the present quoted entity is concerned and if some sort of discounted deal is not concluded with the existing potential bidder then a possible insolvency or a third party acquisition at a distressed price could eventually follow, unless they can suddenly obtain a payment of several million from their existing debtors. The history here does not suggest that this is a likely proposition. It seems to me that the likeliest outcome could be a loball offer from Bidco (maybe a few pence per share) as the only potential alternative to insolvency since without a significant reduction in receivables they must be close to running out of cash to fund continuing operations. chrisdgb - 984: The company remain in bid talks, what a crazy share price reaction....!! The price reaction reflects the above reality and I'm just surprised that it hasn't fallen even further on this news. With uncollected receivables that exceed annual sales and a potentially dire cash position, are you really expecting some kind of offer at a premium price? |
Posted at 25/4/2016 09:31 by bad gateway I take quite a lot of comfort from that list myself. After jamal theres still 50 percent of the shares held by the larger investor. Whilst its true what you say about the "ready buyer" its also true that these types of investors are less likely to be mugged of their shares by an opportunistic ceo's bid than the average p.i.Not long til we know the (potential)offer price now. |
Posted at 21/4/2016 08:55 by masurenguy Just a small part of my portfolio but I took advantage of the spike at the open and sold my stake. It's a business with good potential but the trading update demonstrated that the increasing debtor position is deteriorating and not improving as expected. That is the key factor as far as I am concerned since the previously agreed repayment/collection schedule is obviously not being maintained.Since the two prime customers are overseas companies who account for over 90% of the business, there is little that they can do to recover receivables if they are delayed or not paid. These two debtors alone account for the annual sales of the whole business - circa £11.7m - and total debtors - circa £14.1m - account for 120% of the annual turnover. The business is viable if it can significantly write down, or even write off, the legacy debts but the existing company would only be in a position to do that if they could raise significant new working capital from existing, or new, investors. I doubt that the existing entity could do that so it raises questions about the future financial viability of the existing business especially if these receivables are going to be subject to bad debt provisions in this years accounts. Even though an investor like Utilico have more than doubled their stake in SYQ over the past 12 months, this is still a very small part of their portfolio so a write-down on their investment will not be such a big deal for them. A potential CEO led private equity buyout could potentially buy the business at a bargain price on the basis that even a low price would be better than the likelihood of virtually nothing from any potential insolvency and the price paid would effectively constitute a debtor write-down on the legacy business that Bidco would acquire. They could then focus upon exploiting the existing potential via Fortumo and other payment aggregators to overcome the receivables issue, which is blighting the current business. There are far too many financial risks going forward where the present quoted entity is concerned and if some sort of discounted deal is not concluded with the existing potential bidder then a possible insolvency or a third party acquisition at a distressed price could eventually follow, unless they can suddenly obtain a payment of several million from their existing debtors. The history here does not suggest that this is a likely proposition. Good luck to those who continue to hold. |
Posted at 18/4/2016 16:47 by yump Perhaps one of the companies who pay so slowly that it generates doubts in Syqic's investor base about their cashflow, leading to a very subdued share price, will make an opportunistic bid. But I'm sure nothing like that goes on in the world ;-) |
Posted at 18/4/2016 14:50 by yump It is not obligatory for a company to suspend shares if bid for. I've held loads. Cadbury's for instance - the first bid triggered hedge fund trading on the market.If there is a bid, the company can suspend shares if they want to though. I imagine there must be a limit on how long investors have to wait for an announcement if that is the case, but I don't know. The EGM point was that they cannot already have been taken over, without an announcement and then some sort of official meeting. |
Posted at 30/11/2015 19:49 by masurenguy Utilico are the second largest shareholder in SYQ and also the largest institutional investor. |
Posted at 19/10/2015 07:07 by jojaken Hello Mikeja,I presume you are referring to me as the person curiously popping up on this board. Well, yes, I had been quiet, not absent, awhile, and yes I did sell out as I became disenchanted with the way the company was being governed. However, I have followed Syqic for over a year as the business model had, and could have again, tremendous potential. (Just look at what some rivals have done) My problem is that the management have consistently over promised and under achieved. (Just look back over Allenby’s reports on the company). I don’t believe management have necessarily wanted to deceive investors, but they have been over confident in their own abilities to grow the company without help. Between six months and a year ago, it was already clear that the balance sheet was becoming a problem so I spoke to Allenby about being interested in any fund raising. I was very ‘curious’ That was then and now is now. Personally I would like to be invested now, but just can’t justify it. Don’t get me wrong I wish no ill will to other investors, I haven’t shorted the stock, nor will I. What needs to change is either an increase in cashflow or an increase in cash holdings vis-a-vis receivables to safely take the company to such a time. There is good reason why companies, such as Rakuten or Softbank, haven’t bought up Syqic. Without strength in the balance sheet, they know they could be in a very strong position if they bide their time. If the company were to improve it’s balance sheet, it could grow much more quickly and from a position of strength. If I can see a sustainable change in either, I will be putting my money back, even at much higher prices than today. For I believe the company has the potential to valued in similar terms to Viki. It is just up to the management to be more realistic of their abilities. I wish you luck Mikeja with your investment in Syqic and I hope I can join you again soon. |
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