Less Ads, More Data, More Tools Register for FREE

Supply@Me says new Italian legislation strengthens proposition

Thu, 15th Jun 2023 15:52

(Alliance News) - Supply@Me Capital PLC on Thursday noted that new Italian legistlation has come into effect, introducing "security interest" to the country.

The London-based fintech platform said the new legislation will provide Italian banks with greater opportunities to adopt its Supply@Me platform for use under white label agreements.

The regulation allows businesses to create a security on a moveable asset without the need to grant permission to the creditor.

Chief Executive Alessandro Zamboni said: "The Pegno Non Possessorio legislation provides greater security for funders seeking to monetise or finance inventories in Italy. Its long-awaited implementation allows for much needed working capital solutions for businesses. It also strengthens our proposition as inventory scientists, particularly for traditional funders."

"Supply@ME has anticipated the legislation coming into effect for some time and we are the first player in the market to leverage it for an inventory monetisation transaction."

Supply@Me shares were down 0.7% at 0.14 pence each in London on Thursday afternoon.

By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Related Shares

More News
21 May 2024 19:38

Supply@Me Capital progresses p-Chip partnership with new memorandum

(Alliance News) - Supply@Me Capital PLC on Tuesday celebrated progress towards a strategic alliance with p-Chip Corp, after signing a memorandum of un...

16 May 2024 21:22

TRADING UPDATES: DSW eyes lower profit than expected; Mpac optimistic

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

1 May 2024 18:38

Supply@Me Capital annual loss narrows; revenue jumps

(Alliance News) - Supply@Me Capital PLC on Wednesday reported a narrowed annual loss and higher revenue.

29 Apr 2024 14:59

IN BRIEF: SYME unveils EUR135 million inventory monetisation programme

Supply@Me Capital PLC - London-based fintech firm providing inventory monetisation solutions - Signs agreement with Societe Financiere Europeenne SA, ...

5 Apr 2024 19:27

EARNINGS AND TRADING: Savannah waiting for government approval of deal

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.