UK 07:06 Thursday, 15 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Before the RNS announcement on 27 April, Supply@ME Capital (SYME) already had 37.4 billion shares in issue. This note sets outs out just how many shares could be issuable under this new death spiral arrangement assuming that the optional tranches get issued at the 0.05 pence per shares (whereas under the VWAP formulae the issue price could be even lower and thus even more dilutive.
The question being asked on the LSE Asylum, as well as Twitter, was: who was the big buyer of Supply@ME Capital’s (SYME) worthless shares, at the close of business on Friday? On 22 April, at around 16.50 pm, there were, according to LSE Asylum’s share trade indicator, three 90 million buys, at £71,410 each, and a monster 285 million buys for £228,000, at 16.35 million. In total, these buys amount to over £440,000.
You read about a new “Capital Enhancement Plan”, and it sounds like good news. But no. This is Orwell speak, and it is, in fact, a series of disastrous announcements from the fraud, Supply@ME Capital (SYME). Even Helen Keller and Ray Charles can see the writing on this wall - although, natch, some posters on the LSE Asylum still know better.
The fraud, Supply@ME Capital (SYME), promises its – dismal – calendar 2021 results will be out by Friday. Given that it is insolvent, I wonder how the reporting accountants will sign off on the document. Time will tell. Meanwhile, Supply seems to have problems updating its Companies House records on a timely basis. For instance:
We have previously noted why Ms Susanne Chishti is unworthy of Non-Exec Director of the year. But even low-grade corporate rats know when the game is up. The shock March 4 resignation of the one credible figure at Supply, its ex-chairman Jim Coyle, after just a few months at the helm, should have been a warning. Now, it appears that Chishti walked with immediate effect last Thursday.
If you look on the website, BondAdvisor-Report-FHIM-Trade-Finance-Bond.pdf (bondexchange.com.au), there is a document seeking to raise $40 million for a US dollar fund, which had equity of $40 million (page 19) and launched on 4 August 2021. Although not named as the subscale, loss-making asset manager, Tradeflow - owned by the almost insolvent fraud, Supply@ME Capital (SYME) - the subsequently proposed bond issue, detailed below, clarifies that it was indeed Tradeflow.
Maths test - complete the sequence: 0.204, 0.135, 0.12, 0.11407, 0.10, 0.056, x – what is x for Supply (SYME)?
The Mercator death spiral, can be repaid in cash or at Supply@ME Capital’s (SYME) option by being swapped into a convertible loan note. The total repayable is now £7.7 million repayable in 12 monthly instalments from inception. To date Supply has made 3 full repayments and one partial repayment as set out below:
Next month, April 2022, auditors will have to decide of they can sign off on the accounts of the fraud Supply@ME Capital (SYME). There will be the usual restatements (aka admissions of past lies) but the big issue is, ceteris paribus, whether this company is deemed technically insolvent and can get a sign off at all. A reminder of the maths before today’s, pathetic, spoofing is exposed.
Heck: today’s news is an RNS Reach, that is to say financially insignificant. But when your entire shareholder base makes a garden worm look like the late Bamber Gascoigne in the intelligence department ,that matters little, Supply@ME Capital (SYME) shares are up by 6% on the news.
Supply@ME Capital (SYME) shares are up by more than 50% at time of writing this article at 0.1025p with the rumour mill implying huge revenues were just around the corner at Tradeflow Capital. The announcement that Tradeflow had cumulatively financed over $1 billion of commodity trade up from $750 million the previous quarter was what seems to have promoted the buying frenzy.
The only weakness in the bear case against Supply@ME Capital (SYME) , the only thing that made me doubt, if not for long, that it was a slam dunk fraud was its October appointed chairman Jim Coyle who had a creditable CV and looked utterly kosher. Today he quit with immediate effect. Chairman do not walk out after just a smidgeon over four months unless there is something horribly wrong.
Non-Executive Directors can play a crucial role in corporate governance in providing constructive challenge to Executive Directors and ensure that they are operating in a compliant fashion. In terms of the manifest unsuitability of Supply NED’s to monitor the making of a cup of coffee let alone overseeing a PLC, I have previously highlighted the failings of David Bull at PCF Group (PCF) infamy but this time the spotlight falls on Ms Susan Chishti and her Non-Executive Directorship of JLG Group Plc where she has been a director since 1 February 2016.
When Mr Leo Malkin of Crowe UK performs his audit of the fraud Supply@ME Capital (SYME) he will be required to perform an audit of the accounting for the acquisition of sub scale asset manager Tradeflow Capital including the valuation of the assets and liabilities acquired and the fees paid to its advisers. I have helpfully set out below some questions he should be asking. If he doesn’t I shall be asking the FRC to investigate his conduct. I have flagged this matter up with the FRC already.
