Supply @ME Capital PLC Captive Bank Update: Quadrivio Group named (4427J)
December 22 2020 - 2:00AM
UK Regulatory
TIDMSYME
RNS Number : 4427J
Supply @ME Capital PLC
22 December 2020
22 December 2020
Supply@ME Capital plc
(The "Company" or "SYME")
Captive Bank update: Quadrivio Group named
Supply@ME Capital plc, the innovative fintech platform which
provides the Inventory Monetisation(c) service to manufacturing and
trading companies, is pleased to provide the following update on
its Captive Bank Inventory funding project.
The SYME platform aligns Client companies (manufacturing and
trading companies) seeking to monetise part of their inventory for
cash, with Inventory funders (banks, financial institutions and
investment funds). The Inventory funders invest through the SYME
platform into portfolios of inventory assets through Securitisation
Vehicles.
The Company announced on 21 September, 2020 that it had entered
into a strategic agreement with a leading European Alternative
Investment Firm ("Financial Partner") and SYME's shareholders, 1AF2
S.r.l. and The AvantGarde Group S.p.A. ("Co-investors") to acquire
a bank in Europe. Following its acquisition, the Bank will remain
independent of SYME, being owned by the Financial Partner (who has
committed to recapitalise it) and the Co-investors. SYME will not
be a shareholder and has no costs associated with the transaction.
It will, however, be the main commercial beneficiary of the
acquisition which will provide funding through the Platform, via a
novel "banking as a service" model.
The Trading Update on 30 November 2020 stated that the parties'
objective is to complete the acquisition and the authorisation
processes regarding the banking license during the first quarter of
2021. This timetable remains on track.
The Company also stated that it would provide details of the
Financial Partner and its market position, once the acquisition was
sufficiently advanced. The Company is now therefore pleased to
announce that the Financial Partner is Quadrivio Group
("Quadrivio").
Quadrivio is an alternative investment firm with a focus on
Private Equity, Private Debt and Managed Accounts. The Firm has
cumulatively raised and managed more than EUR2 billion from both
Italian and international institutional investors.
The Quadrivio fund "Industry 4.0" [1] will invest in and
capitalise the Captive Bank.
The Captive Bank's objective is to be a cornerstone investor in
SYME's wider Inventory funding programmes working alongside all of
Supply@Me's Inventory funding partners. In this regard, an update
on the Company's first securitisation issuance is expected before
the year-end.
Alessandro Zamboni, CEO commented "I'm very excited to finally
disclose to our shareholders this strategic alliance; Quadrivio
Group is the right Financial Partner for this highly innovative
banking project. Leveraging the vast client network that the
Industry 4.0 fund has internationally, the impact of the Captive
Bank is expected to be transformational for Supply@ME and its
access to Inventory funding capital."
Notes
Supply@ME enables businesses to generate cashflow, without
incurring debt, by monetising their existing stock. Before a
business has found an end-customer for its inventory, the Supply@ME
platform enables them to sell ("monetise") their stock and receive
cash immediately to boost their working capital. The Supply@ME
service enables strong companies to improve their working capital
cycle. SYME does not monetise inventory for companies in financial
difficulty or with inventory that they are struggling to sell.
Contacts
Alessandro Zamboni, CEO, Supply@ME Capital plc,
investors@supplymecapital.com
Paul Vann, Walbrook PR Limited, +44 (0)20 7933 8780;
paul.vann@walbrookpr.com
Brian Norris, Cicero/AMO, +44 (0)20 7947 5317
[1] https://www.industry4zerofund.com/il-team/
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