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Syndicate Asset Management

  • BY: Andrew Hore |
  • POSTED: 31/07/2009 |

RBS has waived a payment due from Syndicate Asset Management in return for a larger one in September.

The investment management company was due to repay 2m of debt to Royal Bank of Scotland on 31 July and it is now required to repay 3.3m by 23 September 2009.

In May 2009, SAM raised 3.1m at 1p a share. At 2.7p a share, SAM is valued at 17.5m. The shares have lost nearly 97% of their value over the past year.

SAM had 5.9bn under management in May 2009. The company needs to report its figures to March 2009 by the end of September. Last year the full year figures were published on 5 August. 

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