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Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation© service to manufacturing and trading companies, is pleased to announce that it has entered into an agreement with Lenovo Financial Services META LLC ("LFS")[1].
The SYME Platform will be positioned as an alternative solution to compliment LFS's existing vendor programme offerings to their network of customers in the Middle East, Turkey and Africa region (excluding South Africa) ("META").
The purpose of the co-operation agreement, made with the strategic support of iMASS, is to deliver a dedicated inventory monetisation programme to LFS's customers which may also allow them to evaluate the opportunity to adopt the upcoming Shari'a version of the Platform.
Commenting on the new alliance, Supply@ME Capital plc Chief Executive, Alessandro Zamboni said: "The signing of this agreement is an important milestone in the Company's development within the wider META geography and is further proof of the scalability of SYME's business model; it also re-affirms the importance of the Platform in supporting the working capital needs of Companies and their supply chain partners, helping to optimise days in inventory[2] even given the current unprecedented global economic challenges.
"This agreement moves SYME a step closer towards its goal of becoming a global inventory monetisation provider. Our partner, LFS, is recognised as market leader in its industry and provides expertise across a qualified network in the META region, a strong base to foster our inventory monetisation Platform. We are delighted to be working closely with them".
John Knibbs, Managing Director of LFS, added: "This agreement demonstrates our commitment to providing our customers the widest vendor funding experience possible and we believe that it will allow us to enhance our existing offerings to meet the ever-changing needs of our customers without placing debt on their balance sheet".
.." if the margins are too tight for funders - guess what - the margins will be just right for our own captive bank - issue solved .."
Banks - even 'captive ' ones, perhaps especially 'captive' ones - have to apply Central Bank determined prudential lending criteria, typically max 50% loan to value.
That's the circle that SYME has to square.
IMO
cheers Peak!
StormHarbour Securities LLP ("SH")
Following this revised funding strategy and taking into account the growth of the portfolio shown below, SH is continuing to roll out its securitisation placing programme as per the RNS of 20 April 2020.
Alessandro Zamboni, Chief Executive, commented, "2020 saw the groundwork laid for a number of business initiatives which have either been implemented or are close to fruition. We have also strengthened the board and senior management team with the appointment of a Chief Financial Officer and several highly experienced individuals to key positions. Despite challenging market conditions, SYME progresses towards the completion of its first inventory monetisation transactions. The proposed acquisition of the complimentary inventory "in-transit" business is continuing and, on a successful close would bring Supply@ME closer to its goal of being a leading global inventory monetisation platform. We aim for the positive revenue impact from several of our business streams to be reflected in the Company's next Interim Statement".
Alessandro Zamboni, SYME CEO, commented:
"I am delighted to announce this agreement as a cornerstone of our inventory funding strategy. We can now begin to structure the monetisation of the first group of Italian client companies. This is a key initiative for Supply@ME and we expect that it will serve as the basis for an ongoing and scalable inventory funding programme for Client companies, starting in Italy. We believe that this will also provide further confidence to investors who have been awaiting the news of our first monetisation.
We expect the agreement will create additional value for the Company, given the opportunity to invest directly in a Fintech Bank whose portfolio will grow as Supply@ME completes further rounds of monetisation. This transaction reinforces the positioning of SYME as an innovative fintech business, via non-credit transactions, aimed at assisting with the working capital needs of SMEs and large corporates."
Much progress has been made contrary to narrative beliefs !!
Following the announcement of 3 November 2020, the Company, with the support of the Shariah Funding Specialist and iMASS, has received the following communication:
"an official pronouncement has been released by Sheikh Dr. Mohamed Elgari and Sheikh Yusuf Talal DeLorenzo in their capacity as members of the Shariah scholar board (the "Sharia Scholar Board") in relation to the inventory monetisation service.
"The functional and the legal structure of the Inventory Monetisaton Investment ("Inventory Monetisation Structure") has been presented to the Shariah Scholar Board.
"The Shariah Scholar Board, following a review in compliance with the AAOIFI Shariah standards, hereby approves the Inventory Monetisation Structure as acceptable within the principles of Shariah."
SYME Chief Executive, Alessandro Zamboni said:
SIT BACK AND RELAX WE ARE NEARLY THERE he also said ;
"I am very pleased to announce the completion of the acquisition of TradeFlow Capital and the upcoming appointments of Tom and John as Executive Directors of Supply@ME. The acquisition will establish Supply@ME as the market leader in inventory monetisation and will generate a number of highly attractive synergy benefits for the Company in terms of funding and customer origination. By joining together, we now have an enhanced platform with an offering for the supply chain sector which is unparalleled. We are also assembling an exceptionally strong Board with the depth and breadth of experience necessary to maintain our momentum and we will continue to strengthen this team as opportunities present."
For accountancy treatment to be accepted as a true sale - the client companies have to receive upto 90% of the value of the goods to be monetised - if the margins are too tight for funders - guess what - the margins will be just right for our own captive bank - issue solved !!!
Oh look someone didn’t like one of my posts - it’s gone missing - but my ability to repost is still here !!
No change to fundamentals, plenty of recent positive newsflow and pipeline developments.
Hold or top-up at these prices imo.
Wait for the news when syme starts to monetise real estate - off plan building developments that don’t need to be tracked - funding already exists for construction developments but it’s very expensive !!
Watch how syme/Tradeflow diversify across all industries on a global scale - we are in at the start of something very big !!!
The banks recommended customers to syme and Tradeflow - the banks would like to help clients companies but they do not have the staff ,infrastructure and technology to track/monitor the goods - banks are closing branches - syme are expanding and opening offices globally ,
AZ has been very well behaved and not tweeted or given any “ ready to fly” speeches - his silence speaks volume AZ will deliver and LTH will be rewarded - polite request - all genuine LTH please try to refrain from engaging with the trolls - it’s what they crave for !!
Best wishes all LTH
Just to be clear I'm saying the confession is fake not all the things it claims happens.
We will never really know what drives those types of people. But it is everywhere
Thing with that doc is that whole" I'm a paid deramper " confession has been doing the rounds for 15 years.
It's just made up. Not that I think it doesn't happen but people are using it to suit their narrative on many boards and just inserting names they don't like.
I had a good look into it when one of the names I recognised as a good poster was named.
Like i say I don't doubt people have all sorts of sinister motives but you've got to be careful what you believe.
Personally I think its more likely Market makers helping to create markets and make a lot of money with trades and obviously shorters.
But that's just my opinion.
It's interesting doc that they like on every other share turn up on red days and mostly disappear on blue ones.
Havoc3852 better to be realistic than these pie in the sky multiples
Jsmith I believe it was me who said 0.50p on first IM might spike above this but I believe it would settle around this area until further figures are announced.
A sure sign that something is on its way is the amount of trolls over the last few days - they know it’s coming and so do we !!
Nobody knows what the price may be on first IM mrsmith.
To many factors.
Hopefully though it will be a driving force in changing sentiment and rebuilding confidence.
I would like to say it will shut a lot of folks up but it won't.
They will be posting FUD no matter what happens
Lots of buying over a 1p if it’s good news
0.50 max if IM complete someone stated last here
Agreed Angus 1.2p on Friday sounds resonable if AZ delivers this week. If not, we don't have long to wait.
That's a good dream but what do you think will drive this to new heights on Friday?
I’m going for a 1.2 close on Friday