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I've heard a few people talking about there being other news due this week? Is this a definite and if so, what are we expecting?
Read micky1 's post at 15:45
Will do. Cheers
Guys, we have a MONUMENTAL RNS today. This is simply incredible news for our company.
Now, from here please stop going on about future RNSs and bombarding Alessandro with emails. He is very busy probably and RNSs will come in due course. Stop being impatient.
Just going through my notes and though I’d post this to remind everyone why we are invested with Supply@MeCapital.
AZ has advised and confirmed some in the RNS’s that they have
1 Stormharbour Securitisation
2 EU Deals(current and income already in) Figures to be announced.
3 Middle East Deals(pilot)
4 UK Deals(pilot)
5 Finlombarda and new investor tie in with the Italian Banks.
USA (pilot) and other geographical areas
Read the RNS's for updated news from SYME. A lot of old articles with 2023 targets that were beaten in 6 months.
SYME are on for 600 clients by the year end.
Below is the timeline.
And after that is a collection of press and research articles I've been keeping.
RNSs will be announced shortly to the market confirming everything which has been stated above above and as AZ advised “everything that has been announced will happen”
* 2014 — Business originally founded as part of the AvantGarde Group. ?
* 2016 — First pilot project, inventory monetisation for an electronic goods ?distribution company ?
* 2017 – 2018 — Second pilot project, for a major Italian meat processing ?enterprise ?
* 2018 — Supply@ME established as a separate entity within the AvantGarde ?Group via a NewCo structure ?
* 2019 — Partnership formed with SIA SpA to extend the technology ?platform and completion of the new legal structure focused on a scalable ?securitisation framework ?
* March 2020 — Supply@ME attains a UK stock market listing via reverse ?takeover deal with ABAL Group.
* April 2020 — Supply@ME engages StormHarbour Securities LLP to manage the distribution and placing of securitisation notes.
* May 2020 - Initiation of research by Proactive
* July 2020 - Directors increase holdings
* July 2020 - Senior Management appointment of Stuart Nelson, former S&P senior director
* July 2020 - Trading update, 2023 target beaten. 97 companies and 273 companies on self funding. 16 Funding Investors found. Multiple banks in talks, UK pilot launching.
* July 2020 - directors loans shares as collateral.
* Aug 2020 - MOU signed with iMass LLC Abu Dhabi
* Aug 2020 - Directors increase holdings
* Aug 2020 - 4 hubs - London, Abu Dubai, USA & Europe announced in interview, UK Multi billion £ companies approach SYME
* Sept 2020 - Signs deal with EPIC with target of 250 companies for 2021.
* Sept 2020 - Institutions take stakes in equity via 1AF2 and want exclusivity for the securitisation issuances.
* Sept 2020 - Demand from Investment funds, private equity and multilateral financial institutions supporting businesses that are promoting post COVID growth
* Sept 2020 -UK Pilot complete negotiating a funding term sheet
* Sept 2020 - Agreement with 2 Italian Banks, One interested in long term partnership
* Sept 2020 - Finlombarda tender to service local SME
* Sept 2020 - A Shari'a assessment on the Supply@ME Platform provided by an internal specialised department of a global bank has been positively completed. This Bank
* Bonus RNS Sept 2020 (today)
Following this significant upgrade to funding, through its "banking as a service" strategic partner, SYME will be able to accelerate the funding initiatives previously announced as follows:
- the Bank partnership will fast-forward the funding of inventory monetisation for those client companies which do not form part of the initial StormHarbour €300m portfolio
- it will deliver additional inventory funding in the UK working together with its UK capital markets partner on the first portfolio of UK Client companies
- it will enable improvements to the self-funding agreements being negotiated with two Italian banks, to create more synergies and integrations with SYME's new partner Bank
- the Company can now analyse new financing structures using direct borrowing lines from the Bank to monetise inventory (and consequently increase monetisation to above €8bn), whereby securitisation notes could be structured in tranches (a senior lower risk tranche for institutional investors, and, a junior first-loss higher risk tranche for the Bank)
Alessandro Zamboni, SYME CEO, commented "This strategic Bank partnership is a significant addition to the Company's existing funding initiatives. Our objective has always been to form partnerships that would enable us to exceed our funding targets, and this agreement achieves that at one stroke. Our business model is highly scalable, subject to access to capital, and to client companies. With this new Bank partnership and the other on-track initiatives, we now have capital and client companies.
"We are moving into an economic environment where recapitalisation of companies and other forms of capital injection, such as inventory monetisation, will need to be considered. SYME provides a service that is comparable to an equity recapitalisation with better funding costs and the absence of any equity dilution. Our new Bank partnership will mean that we have two important key barriers to entry protecting us in this untapped inventory monetisation market: a unique capability to analyse and monitor inventory, and a competitive cost of funding through which to monetise it. We're delighted with this big step forward and are enthusiastic to push ahead with the next phase of SYME."
The New Wheel ??