Member Info for Jarv55

Sharebel they can use them to trade.

Utility Reassignment to District Judge Wed 05/08 10:57 AM

NOTICE OF NON-CONSENT Consent to the jurisdiction of the Magistrate Judge under DUCivR 72-4 has not been obtained. Case randomly assigned to Judge Howard C. Nielson, Jr and Magistrate Judge Daphne A. Oberg. Magistrate Judge is automatically referred under 28 U.S.C636(b)(1)(A). Magistrate Judge Daphne A. Oberg no longer assigned as the presiding judge to the case. (mh)

Notice Notice of Availability of Judicial Settlement Conference Tue 05/07 9:49 AM

NOTICE OF AVAILABILITY OF JUDICIAL SETTLEMENT CONFERENCE. For the benefit of the public and the bar, the District of Utah offers judicial settlement conference as an alternative for dispute resolution assistance in all civil cases and bankruptcy adversary proceedings. The court offers this alternative because, when compared with litigation, it can resolve a dispute faster, at less expense, and with solutions that are better able to meet the parties' needs and interests. Parties may file a stipulated motion for judicial settlement conference. A form[LINK:motion] is available on the court's website. Notice e-mailed or mailed to Plaintiffs 1AF2, Avantgarde Group S.P.A., Defendants Camo, LLC, Harvey L. Carmichael, Harvey Carmichael, Inc., Sanskirt LLC, Stock Loan Solutions, Stock Loan Solutions, LLC, Stock Loan Solutions, LLC, Joe D. Thomas. (alf)

A motion to compel arbitration is a legal request made by a party in a dispute, asking the court to enforce a contractual arbitration clause and require the parties to resolve their differences through arbitration instead of litigation. A party can file a motion to compel arbitration if they have a valid and enforceable written agreement to arbitrate. The court shall order the parties to arbitrate if the other party does not appear or oppose the motion.

White-label IM business line

The Company announced that SYME and the working group (as referred to in the RNS announcement made on 3 January 2024 and includes Banco BPM S.p.A. - "BBPM" - and the WL Client Company) have been working closely to draft, review and finalise the detailed commercial contracts which will implement the commitment received from BBPM. Alongside this, the working group has been progressing the onboarding of the identified remarketers, at the same time as evaluating the opportunity for one of the remarketers to undertake a separate dedicated IM transaction. SYME had expected the contracts to be completed by the end of March 2024.

As of today, SYME, the working group and the external legal teams are finalising the review of the commercial contracts and further meetings are planned in the month of April with the list of eligible remarketers identified by BBPM to finalise:

- the remarketing commitment with the leading producer of the famous Italian cheeses, that is also a client of BBPM, to underpin the execution of the IM transaction; and

- the signed term sheet with the same remarketer to enable an ad hoc additional IM transaction with the remarketer.

On 29 September 2023, the Group stated, as part of the interim results announcement, that it is now focusing its efforts on the following core business lines:

· IM transactions from the pipeline originated by the Group and funded by third-party investors ("Open-Market IM"); and

· IM deals with local commercial banks and their client companies ("White-Label IM"). In this regard, SYME explained that this route is expected to allow the Group to scale its revenue in Italy, leveraging the balance sheet and the client base of the WL Inventory Funder in specific supply chains. In parallel, the Group continues to explore similar White-Label IM partnerships in the UK.

The WL Transaction

BBPM is Italy's third largest financial services group in terms of assets; of which over ?100bn is accounted for through loans and advances to their customers[1]. BBPM has a deeply rooted presence in the northern regions of Italy, including those with the highest industrial concentration in Europe.

The achievement of the commitment for the WL Transaction is a key milestone for SYME which involved the collaboration across a highly qualified working group consisting of the dedicated functions of BBPM, the WL Client Company, external legal specialists and an accounting team made up of two different Big Four accounting firms in Italy, of which one is the auditor of the WL Client Company.

Specifically, to deploy the first White-Label IM, BBPM, the WL Client Company, the Group and a dedicated Stock Company (which is owned by the CH Trading Hub[2]) have signed a binding term sheet ("Commitment") (subject to the finalisation of the relevant definitive commercial agreements between the relevant parties) which envisages the delivery of an IM transaction with the following key features:

- the WL Client Company is within the Agrifood supply chain, being a leading producer of the famous Italian cheeses;

- the dedicated Stock Company will fund the WL Transaction through a combination of the secured ?8.5million bank debt from BBPM and ?1.5million of equity investment from the CH Trading Hub;

- specific remarketers have been identified who will be directly engaged by the Stock Company to optionally sell the inventory (up to ?10million) in specific circumstances. In turn, the remarketers could potentially be a beneficiary of separate dedicated White-Label IM transactions in the future; and

- the WL Client Company has signed a commitment (up to ?10million) to become a remarketer of a potential client in SYME's pipeline which operates in the same supply chain.

Following the signing of the Commitment, the working group is now focussed on the delivery of the WL Transaction through the execution of the definitive contractual agreements between the relevant parties.

Should of heard about this by now.

The IM Securitisation Programme will be deployed over multiple tranches of approximately €35m each, the timing of which is dependent on the speed of the inventory turns of the client companies. The funding is expected to be used to fund IM transactions for Italian client companies included in the Group's pipeline.

The expected returns of the IM Securitisation Programme are in line with the Open Market IM, being IM transactions from the Group's pipeline and funded by third-party investors. In this regard, the IM Securitisation Programme is expected to generate revenues of approximately 1-3% of the gross value of the inventories monetised (purchase price plus VAT).

The Company will further update the market in due course once the first tranche of the IM Securitisation Programme is deployed and will share more information regarding the IM Securitisation Programme.

We need this done asap.

Https://www.supplymecapital.com/wp-content/uploads/2024/05/SYME-Annual-Report-2023.pdf

Https://www.voxmarkets.co.uk/rns/announcement/9e40a6a1-6c90-4248-ad83-a14594d413ba/

Good summary Luckybob.

The bod are looking into other funding routes so they don't have to rely on Tag the best thing they could do is get the White Label deal done with BPM so they are derisked.

Trevor maybe its due to TW reporting them to the Fca and the auditor are clarifying everything has been done to the letter.

Jemini one thing I can guarantee you have no idea what the market will do. Nor do we.

Before everyone gets carried away I would suggest everyone reads the risks in the Annual report.

I wonder if Bpm could take some of our equity for cash.

The WL Transaction

BBPM is Italy's third largest financial services group in terms of assets; of which over ?100bn is accounted for through loans and advances to their customers[1]. BBPM has a deeply rooted presence in the northern regions of Italy, including those with the highest industrial concentration in Europe.

The achievement of the commitment for the WL Transaction is a key milestone for SYME which involved the collaboration across a highly qualified working group consisting of the dedicated functions of BBPM, the WL Client Company, external legal specialists and an accounting team made up of two different Big Four accounting firms in Italy, of which one is the auditor of the WL Client Company.

We are still waiting for this to happen.

Twogood2die sounds like something Az would say. Or is that just your thoughts?

Are the directors taking part?

I can only imagine Tw reported them yto the fca again lol

What after you sell for your 10% stop telling whoppers.

Think its time to start filtering a few of the clowns on here.