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Supply’s discounted bailout placing, is the money really there? A broker writes

By Tom Winnifrith | Thursday 16 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Yesterday the fraud Supply@ME Capital (SYME) announced a discounted placing raising £1.5525 million (i.e. as much as it could get) at just 0.01725p.It is still technically insolvent to the tune of almost £3million and today’s revelations of massive prospectus fraud at its sister company Regtech Open (RTOP) prompt a reader from the City to ask if Supply will actually get the dosh.
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