Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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.
How I see current holders with current bloomberg as of 25/02/21
Within NEW TAG (Includes 1Af2 due to merger)
Orchestra Group 25.97% from (bloomberg)
Avant-garde Group SPA% 11.12 (bloomberg)
Totaling 37.09%
basically the total announced on 24th DEC less the option
Eurofinleading Fiduciaria Spa 5.92% external of TAG
5x HNWI 12%
these could be held within any of the various different brokerage accounts and below TR1 Theshold
i.e HL 12.68% latest change + 3.9B
i.e Interactive Investor %5.75 latest change + 1.7B
i.e Halifax 3.97% latest change + 1.2B
Dominic White 2.98%
Loan Shares 17.99% (do not show on register)
CONCLUSION
TAG 37.09%
LOAN SHARES 17.99%
HNWI 12%
DW 2.92%
EUROFIN 5.92% (external of TAG)
TOTAL 57.93% excludes loan shares
TOTAL 75.92% includes loan shares
The team backing this have alot more at stake than any of us, AZ holding via Orchestra currently worth £45 million...
thats reason enough to make it work..
we are just along for the ride. so sit back and relax. dont feed into all the nonsense and just let it play out.
The Company, as outlined in its business plan, is exploring potential joint business alliances with Internet-of-things vendors such that it can begin to develop a unique "Internet of Inventory" tracking and monitoring product to enhance its offer.
In October 2020, the Company engaged with a specialised headhunter to source and appoint a permanent CFO. A short list of three highly qualified candidates hase been selected and each candidate has been interviewed.A final decision is pending.
Furthermore, discussions are in place with a number of Insurance Companies in order to create
· a dedicated inventory insurance product aimed at generating a new revenue stream for the Company.
The Company is now working with several Banks across the jurisdiction it is now ready to serve (Italy, UK, UAE) in order to design an integrated service model, and is also considering the upcoming key role of the Captive Bank as anchor Inventory funder.
Client Company origination
The portfolio of Client Companies continues to grow and now includes mid-cap and large-cap businesses from Italy, the UK and MENA regions.
31.12.20
Gross origination - 2.13bn
Number of client companies -165
(1 "Gross origination" includes all client companies that have signed an NDA, a term sheet, or are in or have completed the onboarding process)
UK
The Company is working to make the UK a key hub for its Inventory Monetisation service as well as a "pivot" location for cross-border monetisation operations (ideal for large corporates with inventory in a number of global locations). The UK operating subsidiary, Supply@Me Ltd, has recently been established.
As announced on 30 November 2020, Supply@ME has signed agreements with two "eco-system partners" SIA Group (www.sia-group.co.uk) and ALTIMAPA Capital (www.altimapa.com). In addition, given the international expansion of the Company,
it has agreed an on-going collaboration with one of the "Big Four" professional services groups that is active in the development of International Financial Reporting Standards (IFRS) relating to the multi-jurisdictional themes of Inventory Monetisation.
In relation to the Inventory Monetisation programme for UK companies, Supply@ME:
· has agreed a Heads of Terms with a global asset manager for an Inventory funding facility with a potential value up to €500m. The Platform is arranging a first portfolio of UK corporates, and
· is negotiating a memorandum of understanding with a specialised trade finance fund to benefit from synergies relating to UK Client Company origination.
MENA regions
The Company announced on 20 January 2021 that the approval of the Shariah compliant version of the Platform had been successfully completed.
Furthermore, the Company is continuing its dialogue with government parties in the region with the objective of offering the Inventory Monetisation process to certain of their sector holding companies as an add-on to their existing digital warehouse solutions.
The Company intends to establish a wholly owned subsidiary in the UAE from which local operations will be managed.
US
The Company and The Trade Advisory are progressing with the development of a first pilot Inventory Monetisation operation within the retail sector and are evaluating an opportunity to deliver an innovative inventory "in transit" monetisation model.
Supply@ME is evaluating potential operating partnerships with international freight forwarding companies that could achieve this outcome.
The Company considers its partnership with SIA (https://www.sia.eu/en) as a strategic asset, particularly considering the recent merger between SIA and NEXI that will create a €15 billion- payment giant and the largest blockchain service provider in Europe (source: fintechfutures.com).
https://find-and-update.company-information.service.gov.uk/company/13151712/filing-history
Link to companies house. Check the appointments for the UK sub.
Link to bebeez article that covers the azimut / epic deal. Note the mentions of Quadrivio and industry 4.0
https://bebeez.it/2021/02/10/azimut-compra-il-ramo-dazienda-fintech-di-epic-e-avvia-azimut-direct/
Have posted below in English as Is written in italian.
(Not full article) doesnt fit.
The Azimut Group and Epic sim jointly launch Azimut Direct , a platform that aims to support the growth and development of Italian SMEs, through a joint advisory, structuring and placement of alternative finance instruments with institutional investors and qualified individuals.
In detail, the operation will be conducted through the establishment of the newco Azimut Direct to which the fintech business unit will be conferred and the structuring of alternative finance activities for Epic's SMEs and of which Azimut will hold 50.1% while 49, 9% will be owned by Epic. The completion of the transaction, which will be subject to the approval of the supervisory authorities, is expected in the first half of 2021 (see the press release here ).
Founded and led by CEO Andrea Crovetto (former top banker of Citibank, Intesa Sanpaolo and UniCredit and former general manager of Banca Finnat), Epic is the real economy marketplace, specializing in minibonds, direct lending, private equity and club deals . Since the beginning of operations, it has raised a total of over 220 million euros for 82 SMEs. In addition to Crovetto, Epic's partners are, among others: Guido Ferrarini (jurist, former president of EuroTlx) and his son Sergio (formerly Bain Capital, currently director of Inflexion Private Equity), Andrea Moneta (senior executive Accenture and former banker of Unicredit), Valerio De Molli (who leads the Ambrosetti group), Roberto Crapelli(managing partner of the Quadrivio Group's Italy 4.0 fund, former president and CEO of Roland Berger Italia), Antonio Chicca (formerly Nomura and currently a member of the executive board of Epic), Massimo Bianchi (Chief Business Officer of Simest) and Digital Magics .
Epic's fintech platform favors the meeting between Italian SMEs and a selected audience of institutional and qualified private investors. Through its fintech platform, Epic acts as an independent intermediary between companies and investors and offers, in a transparent and low-cost way, to the former to find capital for their medium / long-term growth projects, to the latter a new asset class to optimize the return on your portfolio.
The newco will in effect be a marketplace for the real economy at the service of Italian SMEs to meet extraordinary finance needs, which will operate in the field of credit brokerage and securities-based crowdfunding reserved for qualified investors.
Theres plenty to be excited about. The people on here spouting there nonsense day in day out probably have overly aggressive short positions via spreadbetting agency's and are worried about the margin calls they are gonna get if all of this news comes to pass before relisting. (Ouch)
At 180M market cap AZ holding is worth roughly 40-50M. He is aligned with us investors and this has been many years in the making. so just sit back and relax and ignore all the trolls on here trying to get you to panic.
Azimut, headquartered in Milan, Italy, is a publicly traded, global, independent investment manager with $67 billion in assets under management.
That's was at 2/11/2020.
https://www.prnewswire.com/news-releases/global-independent-asset-manager-azimut-makes-strategic-investment-in-sanctuary-wealth-301164812.html
Apologies in last post I had posted AUM for azimut holdings not azimut group. My mistake.
I asked people to connect the dots for themselves as I dont want to make assumptions / give trolls ammunition.
I will not be responding or bickering with any of the trolls on here. I'll just post my thoughts and leave. Just trying to provide interesting bits of information. hopefully some genuine investors / people can appreciate that.
I find Azimut a perfect fit for the potential funder. We know that the stormharbour portfolio was predominatly composed of italian companys so would make sense to use an italian based funder like Azimut Group.
Also based in Milan as are Supply@Me.
This is how I see It. A case of occams razor.
Supply@me partnered with EPIC & Quadrivio group. To provide italian SMEs with funding while creating a new asset class.
Epic has a partnership with Supply@Me & a partnership with Quadrivio (roland Berger) and just had majority bought out by Azimut group.
Both are intending to supply Italian SMEs with funding while supporting the Italian economy there interests are aligned as are there connections. Synergy / ecosystem.
Seems a good fit to me.
Important to remember this is just the first major step for Syme.
There are currently two Open-Funding structures being marketed.
The first Open-Funding structure is an inventory-backed securitisation note programme, arranged and distributed by StormHarbour Securities LLP.
This is the one I suspect Azimut could be involved with. Its speculation but we are investors, that's what we do..
The second Open-Funding structure is a Shariah compliant investment product. This widens the potential investor base for the inventory monetisation platform to include the Islamic Finance Industry.
The Sharia funding specialist is one of Europes largest banking groups.
(From RNS)
The platform signed off the day before suspension as being sharia compliant.
Funding isnt going to be an issue I just dont think these large corporations move at the pace AZ expects them to. We are currently in a pandemic and a lockdown as are Italy.
Captive bank, 8B funding expected Q1.
Self funding model - was initally 2x italian banks. As per last RNS - The Company is now working with several Banks across the jurisdiction it is now ready to serve (Italy, UK, UAE) in order to design an integrated service model, expected Q1.
UK hub is currently being established.
(If you check companies house you can see the UK ltd company being setup. Looks busy behind the scenes. Appointment of Stuart Nelson now Joining Stefano Cavalleri.
I will lay it out but you connect the dots.
Supply@Me has a deal with the fintech Epic sim.
Supply@Me has a partnership with Quadrivio (industry 4.0 fund)
Epic has a partnership with Quadrivio / industry 4.0 (via Roland Berger)
Azimut just bought out the majority of Epic. ( 50.1%)
Azimut / Epic aim to supply italian SMEs with funding and as per this article talk of a new "asset class"
https://www.crowdfundingbuzz.it/azimut-ed-epic-lanciano-azimut-direct-per-portare-la-finanza-alternativa-nelle-pmi-italiane/
Syme plans to provide italian SMEs with funding also and has created a new asset class.
Azimut fits the description of the funder for Stormharbour. 1980s and investment portfolio valued at 70B.
Azimut Holding SpA is an independent company that deals with consulting and asset management. At 30 August 2018, the assets under administration amounted to 52 billion euros.
*Note that the above was 2018 so assuming growth since then.
Azimut Foundation
January 22, 1988 in Milan.
AZ tweeting a direct link to the Epic Sim Azimut deal, I would consider very out of character if not directly involved.
Over to you
An article I found in italian regarding the epic / azimut deal. Check out they mention offering a new asset class. Also mentions quadrivio & industry 4.0 being a partner of Epics.
as is Supply@me.
EPIC is the real economy marketplace, specializing in minibonds, direct lending, private equity and club deals. Epic's fintech platform favors the meeting between Italian SMEs and a selected audience of institutional and qualified private investors. Through its fintech platform, Epic acts as an independent intermediary between companies and investors and offers, transparently and at low cost, to the former to find capital for their medium-long term growth projects, to the latter a new asset class to optimize the return on your portfolio. Founded and led by CEO Andrea Crovetto (former top banker of Citibank, Intesa Sanpaolo and UniCredit and former general manager of Banca Finnat), Epic is the real economy marketplace, specializing in minibonds, direct lending, private equity and club deals. Since the beginning of operations, it has raised a total of over 220 million euros for 82 SMEs. In addition to Crovetto,
Epic's partners are, among others: Guido Ferrarini (jurist, former president of EuroTlx) and his son Sergio (formerly Bain Capital, currently director of Inflexion Private Equity), Andrea Moneta (senior executive Accenture and former banker of Unicredit), Valerio De Molli (who leads the Ambrosetti group), Roberto Crapelli(managing partner of the Quadrivio Group's Italy 4.0 fund, former president and CEO of Roland Berger Italia), Antonio Chicca (formerly Nomura and currently a member of the executive board of Epic), Massimo Bianchi (Chief Business Officer of Simest) and Digital Magics .
https://www.crowdfundingbuzz.it/azimut-ed-epic-lanciano-azimut-direct-per-portare-la-finanza-alternativa-nelle-pmi-italiane/
Extrader I cant be asked writing a detailed response today so ill keep it brief.
eurofinleading fiduciaria spa moved to 0% as they own 1Af2. And 1Af2 is now merged with new TAG. So there combined holdings are included In the newly formed TAG shares. Hence why the pledged 17.99% shares that were owned by 1Af2 are also included in the new TAG holding percentage.
You are persistent I'll give you that. But you also cherry pick bits of information to suit your angle. And dont alter your position when presented with new facts.
Over / out
Like I said with my comment above about the sky is blue arguement. Happy to have differing view points but first there was no article. And now you have an article everyone else except for yourself has misinterpreted it.
https://www.quadriviogroup.com/en/alessio-rossi/
Milan is currently hosting the conference sponsored by the Quadrivio Group with the support of
Confindustria aiming at taking a snapshot of the current situation and prospects of the two market
segments, which today, thanks to private equity, can enhance and accelerate the growth of the country.
The Group, which has been operating for more than 20 years in the alternative investment landscape, has
announced that it will invest more than half a billion euros into Italian SMEs over the next three
years.
Industry 4.0 is the name of quadrivio fund.
[1] https://www.industry4zerofund.com/il-team/
https://bebeez.it/2020/05/13/quadrivio-alza-lasticella-della-raccolta-da-500-mln-a-un-miliardo-di-euro-studia-un-eltif-che-coinvesta-con-i-due-fondi-gia-lanciati/
"" then the Industry 4.0 fund was launched , dedicated to investments in support of the technological evolution of Italian companies, in particular in the digital transformation of SMEs (see another article by BeBeez ). The team of this second fund, in addition to Binello and Ricciotti, includes managing partner Roberto Crapelli, former president and CEO of Roland Berger Italy and with over 20 years of experience in strategic consulting and more recently in Industry 4.0 projects in Italy and Germany; and the investment director Pietro Paparoni , supported by a group of analysts. Industry 4.0 is supported by Confindustria Young Entrepreneurs, led by Alessio Rossi . Among the major underwriters are the Doris family, Banca Mediolanum, Mediocredito .""
Just because you cant find a link doesn't mean it does not exist.
If syme said the sky was blue I think you would argue that it wasnt.
30jp. Think apunter2 is making the point that I'm on your side here bud. as I helped write the research document. Apologies for the name calling but you need to stop lumping me in with the derampers because I am on the side that's trying to contribute research that benefits all the holders here. If you read through my post history you will see I've not said a bad word about syme. Much the opposite & I've avoided these boards in the past due to the bull**** posted by said individuals.
is the rest not irrelevant now as 1AF2 bought out all of the old TAG holders, and orchestra group shares have also been disposed to the new TAG entity. see the link below
Sinopoli & Partners advised A1F2 S.r.l., managed by Alessandro Zamboni, CEO and founder of The AvantGarde Group S.p.A., in the repurchase of 100% stake in the The AvantGarde Group S.p.A..
The transaction value is around €91 million.
Newly formed TAG. % 56.89 (now comprises 1af2 & includes the 17.99% loan shares)
NEW INVESTORS 12.2%
Total % 69.06
TAG BUYOUT BY 1AF2 LINK
https://www.globallegalchronicle.com/ceo-alessandro-zambonis-e91-million-repurchase-of-100-interest-in-the-avantgarde-group-s-p-a/
From last RNS
· a merger between 1AF2 S.r.l. and the AvantGarde Group S.p.A.. The merged company will be named "the AvantGarde Group";
· the disposal of all of Orchestra Group's SYME ordinary shares to the newly formed AvantGarde Group
think FPG and IWep holdings were mainly absorbed when 1Af2 bought out the old TAG. Hence why DW now below 3%
way less confusing now and easier to understand moving forward. would still like to see a tr1 breaking down what the new TAG holding consists of, and the percentages each player has within it.
doesn't really matter to be fair, free float is small and shrinking by the day & recent changes to TAG simplify things going forward.
LTH will do well here. IMO
RNS Number : 4393S
Supply @ME Capital PLC
08 July 2020
Orchestra Group (*)18,98%
1AF2 srl (**)23,91%
Finance Partners Group SpA (***)10,06%
Emanuele Facile 1,14%
Maurizio Belli 2,84%
Total 56.93%
(*) Alessandro Zamboni is the ultimate controlling natural person
(**) Eurofinleading Fiduciaria SpA owns 1AF2 srl
(***) Finance Partners Group SpA shareholders: IWEP Ltd 28.57%, Eight Capital Partners plc 28.57%, Emanuele Facile 30.39%, Maurizio Belli 12.47%
Thu, 24th Dec 2020 07:00
RNS Number : 8006J
Supply @ME Capital PLC
24 December 2020
Following completion of the transactions, the shareholdings of each of the three parties will be as follows:
· the AvantGarde Group SpA (post-merger*) 38,9% + (17.99% 1AF2 Loan shares) % 56.89
*The percentage stated does not include the 17.99% of SYME shares related to the collateral transferred in accordance with the three stock-lending transactions announced on 29 July 2020.
· The New Investors** 12.2%
TAG % 56.89
NEW INVESTORS 12.2%
Total % 69.06
the percentage of TAG share ownership has not changed. anyone stating otherwise is completely at it. read above and please tell me how it has changed at all?? the ownership structure has changed but the percentages held are no different. if you add the fact that new investors have 12.2% this means between TAG & New investors alone %69.06 of shares are in sticky hands. the free float is considerably less than it was at the start of the year.
Merry Christmas to all.
Just a summary to clear up all the trolls posts saying that the concert party has dumped shares etc etc and all the other bs they are coming out with. Was initally posted in premium but forwarding here to ease some minds.
From todays RNS.
1AF2 bought Iwep out of TAG.
ECP and FPG shares been hoovered up by 5x HNWI investors.
DW now below 3%.
1AF2 loaned the stock for the acquisition of the banking license as they are Co-investors in the bank.
1AF2 will reaquire said stock, they are now merged with (TAG)
the AvantGarde Group SpA (post-merger*) 38,9%
+17.99% (1AF2 loan shares)
From todays RNS
*The percentage stated does not include the 17.99% of SYME shares related to the collateral transferred in accordance with the three stock-lending transactions announced on 29 July 2020.
At the end of this stock-lending transaction or on the repayment date (in July 2022), the collateral will be returned to the Group in shares or cash, at the choice of the borrower.
The new investors (12.2%)
No reduction at all. Quite the opposite actually.
Anyway switching off. Merry Xmas to all the LTH here.
Have a good one all.
(*) Alessandro Zamboni is the ultimate controlling natural person. Orchestra also owns directly 6,99% of SYME voting rights
(**) Eurofinleading Fiduciaria SpA owns 1AF2 srl. As announced on 29 July 2020, 17,99% of SYME shares were pledged to three stock lenders. On repayment of the secured loan, these pledged shares will be returned to 1AF2.
It's right there extrader in that link above. If you read the bottom part of TR1.
1AF2 posted an RNS so it moved from 23,91% to nearly 5% pursuant to the stock lending transactions explained. The reason of the stock lending deals we think has been clarified seeing the RNS 21 September (1AF2 banking licensing acquisition together with an European Private Equity Fund). I.e a JV
Anyway not playing the tit for tat game because I know you will win. Have not the time nor the patience for virtual debates with people that aren't invested here.
To the people calling me a troll because what we are discussing goes straight over there head. I'm on your side check my post history hahaha.
Over and out.