RE: Another article..6 Oct 2020 22:05
For reference extrader
Since the lawyer website announcement, dated 1st October
https://www.ilnordestquotidiano.it/2020/10/01/il-ceo-e-fondatore-alessandro-zamboni-torna-a-detenere-il-100-di-the-avantgarde-group/
Translation
The Sinopoli & Partners firm assisted A1F2 S.r.l., headed by the entrepreneur Alessandro Zamboni, CEO and founder of The AvantGarde Group S.p.A., in the purchase of 100% of the share capital. Among the sellers, IWEP LTD, a company incorporated under English law, was assisted by Tonucci & Partners.
The total value of the transaction is approximately 91 million euros.
Today I sent an email to AZ asking if there is any credibility to the story and should I expect an announcement via a full TR1
I got an immediate but somewhat strange reply
e press release is true and it refers to the option call exercise already posted through RNS on 7 July 2020.
Regadrs
7th July RNS
Supply@ME Capital plc announces that it has been informed by the Chief Executive, Mr. Alessandro Zamboni, that he has exercised the call options ("Call Options") detailed in the Company's Prospectus (Part VI Section 4) and Whitewash Circular (Part III Section 4.6), both dated 4 March 2020, to acquire 100,000 ordinary shares in The AvantGarde Group SpA ("TAG") from members of the concert party. TAG is the main shareholder of SYME and owns two other companies in the Fintech sector.
Settlement of the Call Options will be in cash and SYME shares owned by TAG. The consideration element of the transaction in SYME shares has been calculated at an average of 0.48 pence per share, being the historic valuation agreed by the concert parties shortly after the reverse take-over. As a result of this transaction, the direct ownership of SYME shares by concert party members will change as outlined below, however there will be no net change to the concert party's total holding.