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Pin to quick picksSupply@me Cap Regulatory News (SYME)

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Supply@ME Capital plc: Securitised Note Issue

20 Apr 2020 07:00

RNS Number : 1192K
Abal Group PLC
20 April 2020
 

20 April 2020

 

Supply@ME Capital plc ("SYME")

New inventory-backed Securitised Note Issue programme to commence

 

 

Supply@ME Capital PLC (SYME), the innovative international Fintech Platform which provides inventory monetisation services to European manufacturing and trading companies, is pleased to announce that it has entered into an agreement with StormHarbour Securities LLP ("StormHarbour"), an FCA Regulated independent global markets and financial advisory firm, for the issue, distribution and placing of a series of asset-backed securities which are guaranteed against inventories purchased directly by the Fintech Platform's special purpose vehicles.

 

SYME and StormHarbour are currently finalising the details of the securitisation programme which is anticipated to cover, within 12 months and through multi issuances, the whole of SYME's current portfolio of originated inventory contracts.

 

A further announcement will be made following completion of the placing of the initial issuance, including the amount raised and the sub-portfolio of inventories (and related sectors) that the Platform will commence monetising in favour of its clients.

 

Commenting on the new agreement, SYME Chief Executive, Alessandro Zamboni said: "The commencement of this programme is an important milestone in the Company's development, confirming the importance of our Platform's offering in supporting the working capital needs of Companies and helping to monetise their inventory days, especially in light of the current, unprecedented global economic challenges, and the countless number of businesses impacted by the Coronavirus. Our partner, StormHarbour, has a reputation for integrity and trust together with the global expertise to foster this innovative securitisation programme and we are delighted to be working closely with them.

 

Enquiries:

 

Supply@ME Capital plc c/o Walbrook PR Limited

Alessandro Zamboni, CEO

www.supplymecapital.com

 

Stanford Capital Partners Limited

(Corporate Broker)

Tel: +44 (0)203 815 8880

Patrick Claridge/Bob Pountney

 

 

Walbrook PR Limited Tel: +44 (0)20 7933 8780

(Media and Investor Relations) +44 (0)7768 807631

Paul Vann/Nick Rome/Nicholas Johnson supplyme@walbrookpr.com

 

 

Note:

Supply@ME is a fast growing, innovative Company which has developed an alternative FinTech platform focussed on "inventory monetisation" which offers a wide range of manufacturing and trading businesses the means to release capital against the value of inventory, speeding up working capital cycles and improving supply chain efficiencies.

 

Unlike conventional bank funding, the Supply@ME offering is not treated as debt finance on a company's balance sheet. Rather, it is a "true sale" of inventory. The transactions, based on innovative legal schemes, combine detailed regulatory and financial controls with leading-edge technology that allows accurate tracking and recording of inventory. This solution is proving attractive o both clients and investors and is highly scalable.

 

Supply@ME has originated more than EUR300 million of prospective "inventory monetisation transactions" in its first six months of operation and at the date of its Admission to the Standard List, 20 March 2020, over EUR970 million of prospective contracts have been originated. The target addressable inventory financing opportunity in Supply@ME's markets is estimated to comprise over EUR 2 trillion of inventory under management.

 

SYME was recently admitted to the London Stock Exchange's Main Market, following its reverse takeover of AIM listed Abal Group plc.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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