The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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"The Company has entered into an agreement ("Term Sheet") with the Italian Banking Group and the Fintech Bank which envisages:
1. the signing of a commercial agreement to manage both the origination of new Client companies and a multi-annual inventory funding plan; and
2. the execution of a first inventory monetisation transaction involving a portfolio of Italian Client Companies.
Simultaneously to the successful completion of the arrangements above, Supply@ME will acquire up to 10% of the Fintech Bank, a level which is below the threshold requiring regulatory approval. An additional 10% of the Fintech Bank may be acquired at the option of the Company within the following two years which would require an authorisation process through the Central Bank. In April 2021, the Fintech Bank was valued, by a Big4[1] firm, at between €34m - €50.6m."
We buy our 10% stake at the same time as the clients are monetised. Remember the clients have to pay the fee upfront, not further down the line.
Havoc3852 - there could be an issue (but to me that insinuates that we will be using the revenue from the first IM to fund some or all of the acquisition)
If no funding approved how can we buy Captive bank if no revenue as IM not approved?
TinTin... ""When this share collapses I’ll miss this chat for the entertainment.""
Papua New Guinea has a better chance of topping the Olympic medal table..
than Syme does of collapsing!!!
So the entertainment will continue....
;-))
GLA
"Simultaneously to the successful completion of the arrangements above, Supply@ME will acquire up to 10% of the Fintech Bank" - Not clear but to me that insinuates that we will be using the revenue from the first IM to fund some or all of the aquisition
Peakhope thanks for your kindly reply
Regards to the captive bank, I'm assuming SYME would purchase the bank using the recent loan funding?
1. If funders don’t come in - no it’s not game over - that’s why there’s an urgency to get the captive bank deal done - we will be self funding through our own captive bank.
2. Greensill probably hasn’t helped with funders - that said it could just be a matter of a contractual nature - I’m convinced it will happen by 30th sept but could be before and then and only then we will learn of the issues if the were/are any.
3. It’s a bone of contention - I believe poc has been achieved in the trials AZ has confirmed this in an email - it could be a conflict of interest if syme was to fund the 1st tranche as that’s not we do - but in all honesty I can’t answer that. - but I know a man who can - AZ - it could also be that we are so close to IM that there is no need !!
Best wishes all LTH
Peakhope, good post!
(Yes at the moment it’s still risky due to the lack of funders putting their money in ) Assume worst case scenario:
1. funders don't go ahead with funding, is it game over?
2. Why is there such a delay and why are funders been reluctant to approve the funding?
3. Why doesn't AZ or SYME fund a small tranche just to prove the concept?
Thanks
I’m not defending AZ or anyone for that matter - Tradeflow was not even on the radar 3 months ago but AZ ,TJ and JC had been in discussions before Xmas - the truth is new business start off on one route and often change direction as and when opportunities present themselves - 15 months is nothing in the scheme of things - there will be so much we do not know down to market sensitive info that AZ cannot divulge - it’s about trust - understanding the complex business model and understanding the direction we are heading in - I’m not a total ramper and yes at the moment it’s still risky due to the lack of funders putting their money in which I have stated on numerous occasions - this is the sticking point but it remains the only hurdle left to jump - AZ is addressing this and 30th Sept is the long stop deadline !!
When the 1st or multiple IMs are complete and you look at your investment and compare it to 18months invested you will be very happy IMO - but in order for this to happen you need to be patient!!
Best wishes all LTH
And when it doesn’t collapse but goes north - what then ?
??????. I thought it was Christmas. Maybe we all belong in an asylum! Probably get more sense from one. When this share collapses I’ll miss this chat for the entertainment.
Toli, how old are you? Saying that it is half term!
Bought these at 27.40 sure it will come good...
Coiled spring can pop any time from here...
Very Tight spread 0.2610 -0.2620 once we break 0.2660 could bounce at moment BUYS will be shown in RED
The retrace from the lows has already started upwards and onwards