Member Info for WolfofWarks

Year ending 30 September 2021

The first portfolio Inventory Monetisation is expected to have a value of approximately €300m and to complete by the end of October 2020 (the first month of the next financial year). This is expected to deliver approximately £20.5m of annual revenue into special purpose securitisation vehicles and to generate an average annual net servicing fee of £6.5m to Supply@ME. The Inventory Monetisation contracts have a three-year fixed duration plus a one-year option.

Hsbc wrote to me about this.

I’ve disregarded it.

Hsbc wrote to me about this.

I’ve disregarded it.

The 6.5m is an annual fee.

Parm. I come on here to discuss with my fellow I investors the good and the bad. The problem is considering their are supposedly wealthy people on here is extremely infantile. I used to go football forums and thought that could be bad. This place takes the biscuit. Anyway I’ve had a great day - SNG, SYME and even Ocado reversed 2.5%. Currently enjoying watching Tesla, Apple and Amazon over in the US.

I think some of you are only seeing what you want to see. They are talking about pulling out if 350 audits as they struggle to compete.

They should be mopping up underneath, they already had SYME in the bag. If you are struggling to compete in the big audits arena it makes no sense to let a smaller one go.

Lindos is great. Dinner on the roof top terraces.

This is interesting. I’m still not convinced how the new wheel fits into the industry moves towards capitalising off book financing and current accounting standards.

I don’t see how GT walking away is a good thing, I think it’s quite concerning.

Thanks Savvy. That makes more sense. I was just going over the RNSs again.

So the captive bank has pre-emptive rights to the securitisations for the global business, that’s not to say they will provide all the finance as they have set out a business plan to 2024 (the €8b) but the potential is there for them to increase the funding if they so wished. More likely AZ is bringing more funding partners on board. Just seems to me the captive bank have first dibs by the wording of the RNS.

Looking at the bank RNS the €8b is set up to cover the international operations.

Savvy

How we would we hit these amounts when the bank funding is €8b spread to 2024:

Average of €15m = €9bn.
Average of €20m = €12bn

I’m not suggesting it’s an oversight by the company just that the total market we believe SYME has might not be as big as we first thought. Anyone with reasonable bank borrowings could possibly have a floating charge in place. It’s difficult to know how the ‘New Wheel’ would fit into these arrangements.

IKN - I guess the question here is can the stock be monetised by off book financing if existing lenders have a floating charge over the assets?

I think it could be a massive hurdle to overcome.

Hi George. Just seen your post after mine. I’d expect execs will still travel globally.

I was thinking more Bob in finance needing to pop to the Lyon office for a few days, etc.

There’s something to be said about looking into someone’s eyes and shaking their hand so business travel will always have a place for sales introductions, job interviews, etc.

I guess I just don’t think it will ever come back the same and internal company travel seems quite unnecessary now. I sat through a day long workday demo a couple of weeks ago on teams and while it was a slog it was completely doable.

I don’t see business trial ever coming back the same.

Teams meetings are becoming the norm and I think a lot of people are enjoying the better quality of life, time with their families, etc.

Cyprus - I don’t give a funk about about ramping, de-ramping, etc. I’m here for the discussion and scrutiny.

Do you not think it’s a good question that needs to be considered?

Boohoo has market cap of £4.4b ASOS has market cap of £5.4b.

My wife tells me that Boohoo have gone heavy into loungewear for Twitter, tik tok, etc, etc.

Hi Cyprus I thought one of the 50p crew have already DYOR, etc, etc :)