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@Angusscott
Just dampen expectations a wee bit, just see it as positive. Just incase it's not Monday.
'Well at least it’s coming back maybe Monday I would think'.
hey angus good to see you , we all have bad days , here to chat if you feel like it
Well at least it’s coming back maybe Monday I would think
Thanks Danny I’ll have a good read of it all later.
Nice to be able to have a civilised conversation.
@Dannyaus1
Good posts.
One more then I must work haha.
From bebeez article above.
Abal had to acquire Supply@Me srl. As it was not deemed a buisness as such. The cost was as below.
Hence the write off.
From bebeez article linked prior.
Meanwhile, Abal in late September 2019 entered into an agreement to acquire the entire capital of Supply@Me for 224.478 million pounds, announcing that it would have paid the acquisition with the proceeds of a new listing,
Bebeez article covering the AQUISITION
https://bebeez.it/en/2020/03/18/italys-fintech-scaleup-supplyme-will-list-london-march-23-with-227-5-mln-pound-market-cap/
Bebeez article covering the client portfolio as of 2019.. I.e prior to RTO.
https://bebeez.it/2020/07/29/la-fintech-supplyme-capital-pronta-chiudere-la-cartolarizzazione-del-programma-complessivo-970-mln-euro/
From above ^.
The British operator in question is StormHarbour Securities LLP , to which the company entrusted the placement of the abs last April (see the press release here ) and which is currently negotiating with 16 institutional investors interested in joining the first tranche of the securitization, which concerns the inventory of 40 companies reported to Supply @Me by its commercial partners (fintech, banks, professional firms, etc.), in what is defined by the company as an open funding approach. In total to date already originate corporate clients and waiting for the inventory Monetization service stood at 97 (compared with 66 to 31 December 2019) and the securitization program will cover within 12 months, the entire portfolio of Supply @me , which at the end of 2019 boasted contracts for 970 million euros .
Your first point on the selling of shares I dont think is accurate. You said yourself that TAG holds 38.9% there is the 17.99% loan shares which are to be returned to 1Af2.
4B of DW shares were taken by 1Af2.
Then the 5x HNWI took another 12%.
That's a significant amount still held by the concert party.
If bringing the HNWI onboard helps the company going forward then fair deuce.
The write off was due to Supply@me srl not being deemed a buisness at the time. So the 224m was the cost of the AQUISITION of Supply@Me srl by Abal.
Which then formed as Supply@Me plc via the RTO
Hence it has been written off.
It covers this in the prospectus and the circular entitled ("The Aquistion")
Is 224M a fair value for Supply@Me at the time. You can argue that point & I would say fair enough. Think it tanked on listing as the listing date was pretty much the start of the covid selloff .
At Time of RTO The company had a portfolio of potential clients to be IM at the time close to totalling 1B. a partnership with SIA established from 2018. A working platform that has had been tested with pilots ran prior to RTO etc. (Think they tested it on Livestock and something else that slips my mind)
The writeoff has already been announced via RNS & will likely give tax benefits going forward. so theres not alot to worry about there from my point of view.
We can nit pick and argue semantics all day long but it's not gonna make any difference. It all comes down to whether or not AZ can deliver (eventually).. I'm in no rush, it can go down before it goes up and I will buy some more as I think he will pull it off.
Hence my investment here.
Sick of the bulls / bears squabbling like children.. wish everyone could just discuss things like adults.
Yeah fair play mate it’s a massive point of interest and not one that should be dismissed lightly. I hadn’t given too much credence to it myself before, if fact I pretty much ignored it. But in the current situation we are in and the RTO and what has happened to the shareholding since is concerning. We all know directors having skin the the game is a positive thing, so logically when they are reducing their holdings it’s concerning.
Also not to say anything fraudulent is going on because the whole point of a public market is you are free to buy and sell shares (to state the obvious). It the RTO, combined with the subsequent writing off of the valuation (although that may well be a technical aspect to be with the substance of the company at the time) and shift of the account dates followed by the breach that in the face of it do not look good. So you can see why they are taking a good look.
I don’t know much about how often these terminals get updated but the one in the research doc clearly doesn’t account for the reshuffle outlined in the Dec RNS.
Fair point above wolf.. my workings were just going off what can be seen on register
The interim accounts clearly state ‘New TAG’ own 38.9%.
That’s from the company so why would I/we have reason to think the answer is something else?
There are no longer any other parties considered ‘related’.
Morning Wolf. What is your view of Danny’s summary below (thank you for posting Danny)
Tex
Hi Tex - the only problem is this data doesn’t include the events of the re-organisation RNS when Orchestra sold to TAG and 1AF2 merged into TAG at the end of December.
Plus some of the other names mentioned in the other thread are no longer considered related parties in the interim accounts.
Interesting share register screen shots from the 13th Jan. this is the most recent view I have seen pre suspension.
Worth studying given the other threads.
Just something for everyone to get stuck into, take a break from the BB and get familiar with the company you are involved in. Everything is here to see. Thanks for the kind folk that update it when needed. Its a fantastic document.
https://docs.google.com/document/u/0/d/1Vow9H-ySvXCVmWAkSi2pzMJBjLR_pY_rMFGAvQ7vKN4/mobilebasic