The story that I first covered back in June HERE came to its all too predictable end yesterday with the announcement of the forthcoming cancellation of SyQic (SYQ) from AIM. Nevertheless, it is still worth spending a bit of time reflecting on the turn of events so that one can recognise the red flags in the future and avoid a similar investment disaster in the future.
Shareholders must be SyQ as a parrot and wish they’d never got involved in this can of worms as a flurry of RNS’s this week move the sorry saga at SyQic (SYQ) towards a close. It’s not looking good for those locked in to this suspended share.
I first commented on SyQic (SYQ) back in June (HERE) following a strange trading update and the emergence of a takeover bid from the CEO. It subsequently went into suspension having failed to get its results out and, following yet another extension to the takeover process on Friday, it warrants further comment.
Cynical Bear has already covered the stinking pus filled boil that is the bid for SyQic (SYQ) by its own CEO Jamal Hassim. Today it just got even smellier with the suspension of the shares.
I have been following the story of SyQic (SYQ) closely ever since a double whammy of late night RNS’s on 20 April with a bizarre trading update and a takeover approach from the CEO. I fear it could go horribly wrong.
Featuring shares in AFC Energy (AFC), Altona Energy (ANR), Management Resource Solutions (MRS), Proxama (PROX) and Syqic (SYQ) setting share price targets for all five stocks.
