Member Info for extrader

Maybe DW will buy a football club ?

Oh no, he already has...along with some familiar 'original TAG' names : Eight Capital Partners, Finance Partners Group, Emanuele Facile, Maurizio Belli, John Treacy (of Epsion Capital, the Placing agent), see

https://www.mediagol.it/palermo/cessione-palermo-dominic-white-laumento-di-capitale-e-la-sua-spv-ecco-chi-detiene-le-loan-notes-da-15-milioni-di-sterline/

There's some fancy footwork (see what I just did ?) on the finance front there, too ...

ATB

Hi Chalker,

I'm reminded of the story of Robert Holmes a Court , an Australian magnate who had a long-standing feud with the 'entrepreneurial' Alan Bond.
A Court was overstretched at one point (the 87 GFC) and Bond took the opportunity to seize a 'trophy asset ' that a Court had been forced to sell.
The Aussie press , always keen to 'cut down a tall poppy' , interviewed a Court shortly after and asked him directly how he felt about having been bested. I like his reply :

'Gentlemen : Mr Bond may have the shares. But I have the cash."

ATB

(a) you didn't say under what names
(b) why should I object to your joining and posting ? It's a free country...a concept that some people clearly have difficulty with.

No.

My turn : Do you ? And what names have you posted on here , before joining today.

I get to ask 2 because I've been posting facts here for 5 years.

The interview tomorrow was first scheduled here :

.."Dear Investors, we are pleased to announce that our CEO
@Alessan62698938 has scheduled an interview with @proactive_UK
. We envisage that the video will be posted by the end of December...".

That deadline was missed.

It's not clear whether the delayed interview will be recorded or live.

Live seems unlikely , as it wouldn't give an opportunity to correct any unduly 'boosterish' or inaccurate statements.
Which in turn also makes any meaningful RNS unlikely.

IMO

Somebody pulled my jocular comment that GridX was probably part of a long though out exit strategy....Hmmmm

;->

Hi AlexE,

GridX may turn out to have been part all along of Henno's 'cunning plan' as an exit strategy....;->

IMO

ATB

Hi Dannyaus1,

.."Hence why the pledged 17.99% shares that were owned by 1Af2 are also included in the new TAG holding percentage"..

According to the 24 Dec RNS, they're not :

.."*Mr. Zamboni will be the beneficial owner of the *AvantGarde Group ( ie 38.9%) , post-merger. 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..."

We're then told that
"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 [new info], at the choice of the borrower "

(1) 'Group' isn't a defined term, but the only Group mentioned is TAG...where does Eurofinleading fit in in this scenario ? If it was heir to a carved-out 1AF2's right to recover 17.99%, surely it would now have to issue its own TR-1 ?

(2) These shares are basically 'off grid' AFAICS; have likely been sold ; and I wouldn't be surprised if we wake up to an RNS one day simply saying that the 17.99% has been settled in cash (unspecified amount) and that's the last we'll hear of them.

" Listen to people's intentions, but plan according to their capabilities ".

ATB

Hi Caterham7,

.."20% chance that NCCL starts morphing itself into Africa's largest future renewables energy company!..."

That would complete quite a reinvention : from coal mine to coal power to clean power... the ESG investment crowd would be drooling ...;->

ATB

Hi all,

I've had a quick look at Savvy6's link to https://drive.google.com/file/d/1BDJVtKyCYrAp1FSWf8sgwijsWVswJSNx/view?usp=sharing.

Here are two major issues to address :

(1) EUROFINLEADING : It still repeats (p 18) the canard that Eurofinleading 'owns' 1AF2 , 'proving' that SYME has Ceresio Group backing. This despite the clear statement in RNS 9730J of 29 Dec :
re 1AF2, that its holding in SYME is now 0% and (note 9) that Eurofinleading's holding is 0%;
re OG , that its holding in SYME is now 0%;
re TAG (ie 'new TAG'), that its holding in SYME is now 40.82% (being 38.9% direct and 1.92% indirect). The 1.92% indirect being what was AZ/OG's 'call option'.
Further down, note 9, the ' ultimate controlling natural person ' with the same split , total 40.82% is AZ.
And if you link back to the 24th Dec 'New Investors' RNS, which includes TAG's then 38.9% , the text reads *Mr. Zamboni will be THE [ my caps, not 'a' ] beneficial owner of the AvantGarde Group, post-merger. "

(2) PLEDGED SHARES ARRANGEMENT Also on p 18, It explains the pledged shares arrangement as 'banking license acquisition together with a European Private Equity Fund' referred to in the 8 Bn Captive Bank RNS of 21 Sept.

This is supported by a communication from SYME ( screenshot p 26), so far, so good.

Unfortunately, SYME here completely contradicts the statements given by AZ in the 30/7 Proactive interview 'SYME boss clarifies stock lending transaction with 1AF2 ' https://www.youtube.com/watch?v=GtDAtKgpy0w&feature=youtu.be, where he stated 2: 40 on that loan proceeds were needed to provide 'first loss security and /or guarantee notes ' in the funding process.

HTH

Hi Longlad,

" Close (DRC), but no cigar (C-B)...."

Teasing aside, the extract..
"analysts foresee slowed lending for belt and road projects from Chinese policy banks Exim Bank of China and China Development Bank, which are now more cautious and have demanded proof of commercial viability before releasing funds for projects..."

surely helps reinforce the case for Zanaga, whose commercial viability is 'stonking'.

ATB

..."Dead funny where he refers to "infectious DECEASE data".."

I think that's what's known in the trade as a Freudian strip.

Or something. ; ->

Hi DannyAus1/Jarv 55,

Thanks for showing the basis of your understanding re the 'underwriter' links.

The relevant bit appears to be : .."The team of this second fund, in addition to Binello and Ricciotti, includes the managing partner Roberto Crapelli,former president and CEO of Roland Berger Italia and with over 20 years of experience in strategic consulting and more recently in Industry 4.0 projects in Italy and Germany; and investment director Pietro Paparoni,flanked by a group of analysts. Industry 4.0 is supported by Confindustria Giovani Imprenditori, led by Alessio Rossi. Among the major subscribers are the Doris family, Banca Mediolanum, Mediocredito..."

Given reference to Crapelli's experience of "Industry 4.0 projects in Italy and Germany", followed shortly by reference to this body's support from Confindustria and SUBSCRIBERS (not underwriters, AFAICS), it seems pretty clear to me from the context that their support is to Ind 4.0 Italy, not Ind 4.0 Quadrivio.
I may well be wrong.

Differences of opinion are what make a market, thanks for helping me see how misinterpretation is possible.
Time will tell.

ATB

Hi Jarv55,

If you mean this : https://www.securitisation-services.com/it/reports/investor/2937/IR... · PDF file,

you'll see that '2014 srl' is/was a Special Purpose Vehicle set up to 'front' the issue of a series of series of notes to acquire a diverse portfolio of assets/receivables - mostly real estate mortgages - (loan size, borrower, maturity and geography) being sold as part of a restructuring of a 'problem bank', Credito Valtellinese S.p.A., part of the Creval Group.

http://www.gruppocreval.com/SitePages/en/gruppo.aspx

All the 'heavy lifting' was done by BNP Paribas and Finanziaria Internazionale Securitisation Group.

If you look around, you'll see Quadrivio has 'fronted' a number of similar securitisations.

HTH

Hi Jarv55,

.."Extrader its the underwriters of the fund 4 that led me to that link..."

Then I must have misunderstood something : Whose 'fund4' , please ..and who are the underwriters ?

TIA

Hi Peakhope,

.."And as if by magic lol further proves my point !"

LOL indeed !

Spoiler alert ! For my next trick -with the upcoming Proactive investor interview in mind - I thought to re-visit the 27 July and 30 July interviews, to see how they've stood the test of time.

"Pay attention, now..."

ATB

Hi Jarv55,

Thanks for the link, which has attracted a lot of the Italian 'great and good' that you name-check.

Quadrivio Group sponsored the event and with it the right to a speech.

Given the scale of Quadrivio's investments to-date, which I've linked, I personally think it would be misleading to read too much into a list of attendees and make connections or extrapolations that aren't IMO there.

ATB

P.S Forgot to add : the Made in Italy fund is pretty small scale stuff, too , see

https://www.madeinitalyfund.com/press-release-en/
.."The new fund, run by its management team which sees Alessandro Binello, David Pambianco, Walter Ricciotti, Alessio Candi and Mauro Grange, aims at investing in SMEs with high growth potential and operating across the Made in Italy sectors: fashion, design, beauty and food..."

ATB

Hi all,

I think people are getting confused between
- the generic concept of 'fourth industrial revolution' (after steam/water; radio/telegraph; and digital) ie .."emerging technologies in fields such as robotics, artificial intelligence, nanotechnology, quantum computing, biotechnology, the internet of things, the industrial internet of things, decentralized consensus, fifth-generation wireless technologies, 3D printing, and fully autonomous vehicles."; and
-Italy's response : https://ati.ec.europa.eu/reports/policy-briefs/italy-industria-40; and
- Quadrivio's 2 x 'piggyback' funds, one called 'Made in Italy', the other ITS 4.0 fund, called https://www.industry4zerofund.com/home-eng/

Quadrivio's Fund has 3 x 'majority stake' equity investments https://www.industry4zerofund.com/press-release/
- Nabucco , outside catering and hospitality, Euro 70 m turnover;
- Rototech, plastics and related agricultural vehicle content, Euro 60m turnover;
- EPI, online retail of soccer and basketball sports goods, 35 store outlets.

Two observations :
First, this is pretty small-scale stuff, 1 x investment per year.
Second, it's not evident that this fund has any of the qualifications - or meets any of the requirements - to run a bank.

All IMO

Hi caml,

The second one in RoC is Sundance, no ? If so, it's a far greater logistical challenge than Zanaga, I'd have thought.

Then, of course, there's this one in Sierra Leone https://thecalabashnewspaper.com/kingho-investment-to-employ-over-2000-to-revamp-iron-ore-mining/

3 months to production, they claim. I think that's because it's literally 'shovel ready' ;-<

ATB