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I would say that it's possible that they are scaling up for the RTO or it might just be them expanding their business. Us PI's can only speculate and cross our fingers!!
Does this mean anything?
Looks like they've now added London as one of their sites on Linked In and they now have 19 employees active in the company - They have taken on additional staff (over 5) hTTps://www.linkedin.com/company/the-avantgarde-group-spa About us Cross-border (Milan, London) “fintech hub” with three active business lines: 1. Regulatory – Technology (“RegTech”) and Supervisory and Technology ("SupTech"?) through RegTech Open Project - Subsidiary Company 2. Asset-Based Fintech (focusing on Inventory "monetization"?; through Supply@ME - Subsidiary Company) 3. Insurtech (focusing on Internet of Things and proximity insurance through Darwinsurance - Subsidiary Company) Website hxxp://www.theavantgardegroup.it Specialties Innovation, Fintech, Regulatory, Insurance, Digital transformation, Working capital optimisation, Blockchain, Internet of Things, Artificial Intelligence
It is not looking good. IMO if we don't hear anything next week then its over
What does this mean the RTO is not going through?
28 days notice of EGM required and shareholder approval needed for the fund raise.. Not happy
Only 4 weeks left to RTO or delist.
The Agreement is conditional on a number of matters, including completion of the proposed placing, shareholders' approval and completion of all necessary regulatory permissions, and the admission of the entire issued and to be issued (in respect of the Acquisition and the proposed placing) ordinary share capital of the Company to the Official List (standard segment) of the UK Listing Authority (the "Standard List") and to trading on the Main Market of London Stock Exchange Plc, for which application is expected to be made in due course. There can be no assurance that all or any of the conditions to the Agreement will be satisfied and accordingly there can be no assurance that the Agreement will complete in accordance with its terms or at all.
That date is for AIM, but they're not intending to come back to AIM, so it doesn't mean anything now.
The company has until February 5th to complete a successful RTO.
Tiny bit of a mention here. Mainly about SIA.
https://ibsintelligence.com/ibs-journal/ibs-news/sias-board-of-directors-announces-federico-lovadina-as-chairman/
looks like we need to wait a bit longer
Whats the latest news here, anyone???
The Agreement, which was entered into on 26 September 2019, provides for the Company to acquire the entire issued and to be issued share capital of Supply@ME from the sellers for a consideration to be settled entirely by the issue of new ordinary shares in the Company. These new ordinary shares will be issued at a price of 0.6756 pence per share, being the volume weighted average price of an Abal ordinary share over the 5 business days preceding the date on which its shares were suspended from trading on AIM. No cash or other consideration will be payable by the Company.
This just means that things are moving in the background, hopefully soon we shall have some really good news.
Hi Folks, I've a modest holding and appreciate the updates and comments provided, but I'm completely lost. Anyone care to speculate on a timescale for relisting? Thanks
This could be huge if it gets approved, exciting times ahead
The European Situation
In Europe, the funding gap is not as stark compared to less-developed regions. A continued loose monetary environment with rock-bottom interest rates, coupled with lower demand from some of the weaker European economies such as Italy and Spain, have combined to reduce the funding gap gradually.
Nonetheless, although relatively low, the European SME funding gap (which includes but is not limited to trade finance) still stands at about 3% of GDP – roughly $440 billion. This is still higher than in the US at 2%. Further, European SMEs are also more dependent on conventional banks for growth. About 70% of their external financing needs are provided by conventional banks, as opposed to only 40% in the US. Thus, although the funding gap is low and improving, the consequences of the said gap on SMEs’ growth prospects are higher in Europe compared to elsewhere.
Spotlight: 4 Non-Bank Players Taking on Europe’s Inventory Financing Market
Keeping in mind the background of Europe’s trade finance gap as well as the opportunities and challenges for non-bank companies looking to increase market share in Europe’s inventory financing space, here are four non-bank players making waves in Europe’s inventory financing market.
Supply@ME: Supply@ME is a platform for connecting companies looking for inventory financing with investors looking for an alternative and higher-yield investing opportunities. A subsidiary of the Italian financial services company the AvantGarde Group, Supply@ME uses the latest in cutting-edge technology – including ERP integration, blockchain smart contracts, and Internet of Things (IoT) – to analyze and monitor a company’s inventory, present the information in a consistent & understandable manner to potential investors, and manage residual risk.
TraxPay: While many FinTech players seek to directly challenge the banks’ entrenched dominance in the supply chain financing market, TraxPay offers a more collaborative solution. Its platform connects with buyers’ ERP systems, allowing suppliers to view much more detailed information than they would be able to on a standard invoice. TraxPay lets buyers offer their suppliers dynamic discounting and conditional payments (secured by blockchain smart contracts) to improve their liquidity and working capital management. TraxPay also partners directly with banks, offering them higher clarity into suppliers’ businesses, allowing them to offer additional financing solutions – including inventory financing.
Demica: An established non-bank player in the working capital solutions space, Demica’s primary clientele comprises large corporates doing over $250 million in annual revenue. Because of the size of its customers, Demica offers a more bespoke service complete with advisory, which is more reminiscent of a private placement rather than a public auction. On top of that, the company also licenses its platform to third parties, including banks and other financial institutions.
$1.5 trillion – that’s the value of the global trade finance gap, which is the difference between businesses’ demand for trade finance and the amount lenders are willing to supply. The primary casualties of this disparity: small and medium enterprises (SMEs). According to surveys by the Asian Development Bank, SMEs face rejection rates as high as 45%. By comparison, multinationals have their trade finance applications denied a mere 17% of the time.
This is not a new problem, but it is a stubborn one – the funding gap has remained at around the $1.5-trillion mark for several years now, although it has come down slightly from its all-time high of $1.6 trillion in 2016. And the implications of this problem are dire, especially for SMEs – without the requisite funding, how can they grow their business?
Inventory Financing: Helping SMEs Grow
To combat such dampened growth prospects for SMEs, one aspect of trade finance stands out: inventory financing. The most common trade finance solution currently is by far factoring & reverse factoring, which is based on the financing of accounts receivables and payables. In inventory financing, companies can obtain financing to purchase inventory – the financing is then secured and appraised against the liquidation of the value of the acquired inventory.
Inventory financing is thus much more growth-oriented. Since buying and selling additional inventory will directly increase revenue, inventory financing is explicitly linked to a company’s growth. Especially when still in the growth stages, SMEs do not have sufficient assets that can be used to secure a direct loan. But with inventory financing, as long as the lenders are convinced that the additional inventory will be sold, they will be willing to extend financing. For product-oriented SMEs feeling stuck in the growth phase, inventory financing can prove to be an invaluable tool.
Furthermore, inventory financing is still relatively less common when compared to the more traditional trade finance models of invoice and receivables factoring. As such, they present a sizable growth opportunity for FinTech companies looking to break into the trade finance market.
FinTech Companies Helping Plug the Gap
Conventional banks remain the main suppliers of trade finance products. But their stringent capital, compliance, and risk requirements limit the amount of trade financing they can provide, meaning the funding gap remains large and persistent. This presents a clear opportunity for the burgeoning FinTech industry.
The business models of these companies vary, from being simple trade finance lenders (whether from their own balance sheets or crowdsourced from third parties) to providing sophisticated analytics and information to the traditional banks on trade finance prospects.
Inventory financing is another focus area for them, as it is a less-crowded market comparatively. In this space, FinTech companies and other non-bank players are looking to enhanc
https://gomedici.com/inventory-financing-growth-of-european-non-bank-players
Clear as mud! Hopefully we won’t have much longer to wait for some positive news!
That's FPG's strategy. It doesn't affect us since supply@me is a subsidiary of TAG and TAG isn't listing. I note that earlier rns' suggested that TAG would be listing, but looks like they've postponed that until next year, as it's not mentioned in this latest rns. A rather complicated strategy worked out by Dominic White I guess.
Good find Ace. I have been wondering for a while now what this means for us shareholders as this statement concerns me "liquidate or redeem the shares". Does this happen at the current share price or maybe a higher target price?
Supply@me is mentioned in Eight Capital announcement.
https://www.investegate.co.uk/eight-capital-ptnrs---ecp-/rns/conversion-of-receivable/201911041348441900S/
One of FPG's indirect investees, Supply Me, is in advanced stages of listing on a London stock market.
I assume some sort of RNS will be released here to say what's the new listing.
I assume some sort of RNS will be released here to say what's the new listing.