Abal Group PLC Supply@ME Capital plc: Securitised Note Issue (1192K)
April 20 2020 - 2:00AM
UK Regulatory
TIDMSYME
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 Tel: +44 (0)203 815 8880
(Corporate Broker)
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.
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END
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