SYME attracting a lot of attention this morning on the back of a strong finish on Friday when it was up 64% on the day. The first IM is now expected this week, alongside a TR-1 substantial holding disclosure this morning from Omni Partners as people feel that institutional interest is a strong indicator. It is unclear what the current situation is, but a 5bn share share loan agreement also expired on Friday and there may be some buying pressure stemming from the lender needing to acquire shares to return these shares – this is unconfirmed however
The detail of the first IM and whether this leads to a snowball effect of further transactions will remain the acid test of long term investment, but our first ‘bagger’ on short term sentiment from our initial posting at 0.0007p
