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SYQ Syqic

15.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Syqic LSE:SYQ London Ordinary Share JE00BF5S6G17 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 15.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Syqic Share Discussion Threads

Showing 1051 to 1072 of 1200 messages
Chat Pages: 48  47  46  45  44  43  42  41  40  39  38  37  Older
DateSubjectAuthorDiscuss
21/6/2016
07:19
Would tend to agree with masurenguy here now. Believe myself they're hoping the market will give up expecting the debt to be unrecoverable so they can buy it up after the results and begin proceedings to get the cash back once they're a private co.
Seems to be the way things are going with all these delays.
Another Allenby success story then.

bad gateway
21/6/2016
07:16
I cannot understand why you continue to offer such clueless speculation when you don't even have a position....post somewhere else, I am sure people will be fascinated...
chrisdgb
21/6/2016
07:12
Au contraire - Mr Reality!
masurenguy
21/6/2016
06:08
Yet a further delay to the date for the submission of any potential offer by Bidco. Interesting to note that the deadline has now been extended to a date that is circa 2 weeks after the year end results are published before the end of this month. This suggests Bidco could be anticipating the shareprice is more likely to fall following those results, especially if writedowns or provisions are made against the outstanding receivables. They would hardly be motivated to wait until after the results were published if they expected them to contain positive news which might cause the shareprice to rise.

RNS Number : 7494B
SyQic PLC
21 June 2016

Extension to deadline in accordance with Rule 2.6(c) of the Code

Following a request from the Independent Board of Directors of SyQic, the Panel has consented to an extension of the deadline to 5.00 p.m. on 12 July 2016, by which time Bidco must either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer for the Company. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code. A further announcement will be made when appropriate. This announcement has been made with the agreement and approval of Bidco.

The Company expects to release its final results for the year ended 31 December 2015 before the end of June 2016.

masurenguy
17/6/2016
14:34
Anyone know who they are, could this be interesting news..??
chrisdgb
17/6/2016
13:37
Quite interesting that Everbrite bought 1 million shares. Perhaps they are not so bearish as the share price suggests.
mikeja
13/6/2016
07:20
Hoping for some clarity this week..
chrisdgb
09/6/2016
09:22
Why are you posting nonsense about their trading situation here?
masurenguy
09/6/2016
09:20
From your post on 21st April:

Just a small part of my portfolio but I took advantage of the spike at the open and sold my stake.


Why are you still interested in being so negative..??? move on

chrisdgb
09/6/2016
09:15
"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............??"

What! So how come the receivables have increased by £5.8m (69%) over the past 8 months to £14.2m? Don't you ever read the company trading updates?

"At 31 December 2015 the Company had outstanding trade receivables of £11.7m (half year ended 30 June 2015: £8.4m) and collections from the Company's primary customer had been less than previously anticipated by the Board. At 29 February 2016 trade debtors totalled £14.2m."April TU

"Remember from the last trading update that they are ahead of expectations."

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." April TU

masurenguy
09/6/2016
08:56
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
08/6/2016
08:03
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
08/6/2016
07:25
Wonder when we will get the results..??
chrisdgb
07/6/2016
07:45
Poor letmelose bought at 20.88p

I am taking notes letmelose



marc antony 3 Jun'16 - 14:47 - 981 of 986 0 0 edit

Letmepass are you pleased with yourself? you have suckered a punter in with 50K

letmepass 3 Jun'16 - 15:42 - 982 of 986 0 0

People cannot wait more than one day... Watch and learn.

marc antony
07/6/2016
07:36
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?

masurenguy
07/6/2016
07:11
The company remain in bid talks, what a crazy share price reaction....!!
chrisdgb
05/6/2016
18:32
I think I'll be all over this tomorrow. Someone bought £180k worth at 18p, surely that's someone in the know. Reckon the deal is done! Company worth at least £14m with current profits. 3x bagger at current Mcap.
hirikan
03/6/2016
14:42
People cannot wait more than one day... Watch and learn..
letmepass
03/6/2016
13:47
Letmepass are you pleased with yourself? you have suckered a punter in with 50K
marc antony
03/6/2016
13:08
Everyone getting falia suckered not as if Falia did not get impale on Tuesday with BOOM BOOM BANG BANG on TEN
marc antony
03/6/2016
13:08
Even getting falia suckered in not as if Falia did not get impale on Tuesday with BOOM BOOM BANG BANG on TEN.

BBBB pushed and offloaded while falia got impaled. Classic

marc antony
03/6/2016
13:05
21.21% up with 18% spread.

How many PI got suckered in Letmepass ramp?

marc antony
Chat Pages: 48  47  46  45  44  43  42  41  40  39  38  37  Older

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