Sondrel – another AIM IPO Roll-Call of Shame confirmed as listing cancellation passed

Sondrel Holdings (SND) commences an announcement today with that, “Further to the announcement on 22 July 2024, Sondrel (AIM: SND), a leading provider of ultra-complex chips for leading global technology brands, announces that all four resolutions, as set out in the notice of General Meeting published on 22 July 2024, put to shareholders at the company's General Meeting today, were duly passed on a poll”. That 22nd July announcement was a Notice of General Meeting, “Proposed cancellation of Admission”…

Sondrel – proposed AIM cancellation, an AIM IPO Roll-Call of Shame…

Sondrel (SND) has announced that it is today to distribute a circular proposing AIM cancellation and that each of the directors is to vote or procure votes in favour of the cancellation totalling approximately 72.45% of the company's issued ordinary share capital. With 75% approval needed, the vote looks set to succeed and, although the company notes that it “has made arrangements for the Matched Bargain Facility to assist shareholders to trade in the ordinary shares to be put in place from the day of cancellation if the resolution is passed”, what of the shares currently more than 15% lower in response at 2.75p?

Sondrel (#SND) – proposed AIM cancellation General Meeting circular

Sondrel – full-year results, how ‘solid’ really is the financial foundation?

Describing itself as “a leading provider of ultra-complex chips for leading global technology brands”, Sondrel (SND) has announced full-year results including noting “many opportunities that are available in the market” and “the completion of the recent fundraise and the support of Rox will ensure that the business is stabilised and put on a growth footing in the future based on a more solid foundation”. So what of a current more than 19% lower share price response to 4.25p?

Sondrel – shares subscription including to fund “transformation plan”, but what is the plan and how well funded is it still?…

Describing itself as “a leading provider of ultra-complex chips for leading global technology brands”, Sondrel (SND) has announced that “it has conditionally raised gross proceeds of £5,625,400 pursuant to a subscription by ROX Equity Partners… at the issue price of 10 pence per new ordinary share. Furthermore… upon completion of the fundraising, the principal sums of the ROX loan agreements will convert into 28,746,000 new ordinary shares”. What of shares in Sondrel currently responding more than 57% higher despite this all stated to follow already “the company's notification of 28 March”?

Sondrel – argues requires “transformation” away from AIM listing… having listed less than 18 months ago!

Previously on semiconductor company Sondrel (SND), on 6th March I wrote “pleased to announce” convertible loan agreement, but only because the alternative was insolvency?, concluding with the shares at 10p still avoid/sell. What of now a “Further Convertible Loan and Amended Exclusivity Agreement” announcement from the company… and the shares slumping currently to 3.5p?!

Sondrel – “pleased to announce” convertible loan agreement, but only because the alternative was insolvency?

Sondrel (SND) states that it is “pleased to announce that it has entered into a £874,600 secured 15% convertible loan agreement”. With though the shares currently at 10p, compared to above 60p as recently as August last year and a 55p per share AIM listing only in October 2022, how ‘pleasing’ is the agreement really?

Sondrel (#SND) – convertible loan agreement, further fundraise still needed

Sondrel – bailout funding discussions “now at a very advanced stage”, though they need to be more than that very soon…

Semiconductor company Sondrel (SND) has announced that discussions for it to be provided with a £0.9 million convertible loan note “are now at a very advanced stage”. What of this and the further details of it from a most recent close 9.75p share price?

Sondrel (#SND) – “proposed £0.9 million secured 15% convertible loan note… at a very advanced stage”

Sondrel – “New Contract Win and Corporate Update”… now it’s cash crunch in just a couple of days!

A “New Contract Win and Corporate Update”-titled announcement today from Sondrel (SND), which describes itself as “a leading provider of ultra-complex chips for leading global technology brands”. It emphasises the contract win has “a total estimated value of US$23 million”, so very good news from a prior below £10 million market capitalisation with the shares just above 11p?

Sondrel (#SND) – emphasises new contract win, but finance “discussions” are with it now requiring additional capital in next couple of days!

Sondrel – a highly convenient time for a ramptastic news “exclusive”!

With its shares reaching more than 150% higher early this morning, Sondrel (SND) has issued a “Statement re Share Price Movement” noting “the movement in its share price and recent press speculation”. What of this and a current up to around 14p share price?

Sondrel – “pleased to confirm that it has received £1.5 million of payments”. But how long is that to last?…

Describing itself as “a leading provider of ultra-complex chips for leading global technology brands”, Sondrel (SND) “is pleased to confirm that it has received £1.5 million of payments in relation to the material turnkey ASIC (Application Specific Integrated Circuit) engagement with its automotive Tier 1 supplier in January 2024” and that “significant new ASIC business opportunities are in final negotiation for project start in early 2024 and indications remain encouraging that European and US market demand for Sondrel's turnkey ASIC services is strong”. So what of a share price currently up to 5.5p in response, though still down from 16p as recently as November and above 60p in August!?

Sondrel – director resignation, what part of the share price down from 55p listing in 2022 to below 5p is “the valuable contribution” he is thanked for?!

Semiconductor company Sondrel (SND) has announced that “Gordon Orr has resigned as Non-Executive Director of the company with effect from 5 January 2024”. What of this, he thanked “for the valuable contribution he has made since the group's flotation” and a current 5.75p share price?

Sondrel (#SND) – NED Gordon Orr resigns with immediate effect ‘to narrow directorship commitments’

Sondrel – a ‘no-one watching’ period “Trading Update” and at a ‘no-one watching’ o’clock. Uh oh!

A ‘no-one watching’ period between Christmas and the new year and a ‘no-one watching’ o’clock, 2:52pm, “Trading Update” announcement from Sondrel (SND). Uh oh!…

Sondrel – AIM Awards 2023 shortlisted for ‘Best Newcomer’ and ‘Best Technology’, so a shares sale further share price slump (natch)…

Since its September-announced results for the first half of the 2023 calendar year, fabless semiconductor company Sondrel (SND) has issued “Delivery of prototypes for three ASIC projects”, “Founding member of Arm Total Design ecosystem” and “Production Order” announcements… so a propitious time now for Siemens Industry Software to sell its shareholding in the company?

Sondrel (#SND) – Siemens sells its shares at 6p each

Sondrel – interims include “will have sufficient funds… for a period of at least 12 months”. Will it though?…

‘Fabless semiconductor company providing turnkey services in the design and delivery of 'application specific integrated circuits' and 'system on chips'’ Sondrel (SND) states that it “is pleased to announce its results for the half year to 30 June 2023” and headlines these “Strong financial and operational progress; positive medium-term outlook”. So what of a share price currently further down to below 14p?