Tom Winnifrith is nothing but a paid conartist paid by people to bash companies. His website ************* gets no hits. Where does he get the money from to pay the trolls.... He failed as a share tipster so now makes his money on sure hits, with a little help......
With reference to the Fintech Bank initiative (referenced in the RNS of 29 June 2021), on 10 August 2021 decree no.114 of the Italian Ministry of Economy and Finance of 25 May 2021, was issued. This decree contained Regulations requiring the registration of non-possessing personal pledges to be kept exclusively electronically. This regulation, following international market practices, aims to align the transparency of collateralised inventories to improve inventory funding transactions, and also strengthen the legal enforceability of the latter collaterals.
This key regulatory change impacted the current structuring activities of the Italian IM Transactions, and there is now the opportunity to furhter improve the security package. As a result, SYME and the Fintech bank are discussing, together with a leading Italian company which specialises in trade insurance and financial guarantees, how to create an inventory funding format that is both scalable and replicable. As a result, it is highly likely that an extension to the expiry date within the current term sheet will be agreed by both Parties. At the same time the Captive Bank project is progressing and the Company will update the market in due course with further developments.
The Shariah compliant version of the Platform is progressing well with its funding specialist and a dedicated announcement regarding this initiative is expected shortly.
Self-funding programme, boosting the White Label (WL.IM) revenue streams
During H1 2021, the Group invested in developing the integrated capabilities to enable it to offer its White Label inventory monetisation platform service. SYME's operating subsidiaries, both in the UK and in Italy, are in discussions with potential IM funders and origination partners. An increase in WL.IM requests from local Italian Banks or banking service providers is also expected as a result of the Italian decree referred to in the section above.
Client Company origination continues to remain strong
In line with the Company's trading update published on 31 August 2021, the Company continues to see clear and growing demand for the Group's Platform to facilitate the inventory monetisation service. As a result of the Fund, the Company has now been able to extend its client base to cover both warehoused goods and those subject to import/ export trade transactions.
As stated in the recent trading update, the total IA pipeline was GBP750m while the C.IM pipeline was approximately GBP1.5bn across 126 clients, the majority of which are based in Europe. The Company recently appointed a new Head of Origination, Ms Nicola Bonini, whose focus is to help identify and grow the number of UK client companies interested in using the Group's Platform to facilitate IM transactions.
The recent trading update defined the C-.IM "pipeline" as client companies for which due diligence is completed or underway and/ or eligible prospects which show an interest in the inventory monet
-- Post-tax loss of GBP1.9mn (2020: GBP2.8mn) as a result of continued investment in technology, operations and hiring new senior team members.
-- Revenue of GBP271,000 generated from "Captive" inventory monetisation stream, primarily from due diligence fees charged by Italian subsidiary. The same revenue trend observed in the prior year is expected (first half dedicated to preliminary analysis with related outcomes underpinning revenues in the second part of the year). The revenue guidance in the RNS of 31 August 2021 is confirmed.
-- Captive business origination pipeline valued at GBP1.5bn, across 126 prospective clients (being the potential value of inventory to be monetised over the Platform).
-- Total Investment Advisory origination pipeline valued at GBP750mn.
Yes Ap the NDA should have gone ages ago. AZ does sometimes stretch things....September road shows or a business plan that hasnt been finished yet. This share reminds me of the two miners picture. I a foot a away from the diamonds and giving up and the other still digging. Its a reminder that we are so close and come so far and we mustnt give up.
Captain so you are going to fund your own currency, army and navy. Cant have your cake and eat it. Btw the barnet formula still gives more money per head to Wales and Scotland than England. I should know I live in Wales.