Open main menu
Home
Random
Donate
Recent changes
Special pages
Community portal
Preferences
About Stockhub
Disclaimers
Search
User menu
Talk
Contributions
Create account
Log in
Editing
Talk:Supply@ME Capital
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
=== Operational and principal activities === ==== Recently introduced significant new products or services ==== Since 31th December 2021 (being the date to which the last published audited financial statements for the company and the group were made up), the group announced the execution of a strategic alliance agreement on 28th June 2022 (the "VeChain Agreement") with the VeChain Foundation ("VeChain"), a blockchain enterprise service provider focused on supply chain and sustainability, to fund the first inaugural IM transaction and kick off the "Web3" stream. The objective of the VeChain Agreement is to create a sustainable Web3 environment that will allow direct participation in the IM journey combining traditional finance with the blockchain space. According to Messari research, the top 100 digital assets in circulation capitalise over US$1.2 trillion, of which approximately 60% are currencies, like Bitcoin, and stablecoins, like Tether. The VeChain Agreement has two phases, both in terms of investment opportunities and technology development. In Phase One, a proof-of-concept real transaction involving a client company already selected by SYME from its existing Italian portfolio, with the VeChain Foundation serving as provider of its VeChain Thor blockchain and non-fungible token ("NFT") investor. Following the successful completion of the first transaction and an assessment of the innovative process designed to link digital assets to the real economy, Phase Two will build up an "IM Platform 3.0" with an expected roadmap of Web3 features, including the issuance of NFTs, digital ownership and B2B marketplaces, decentralised finance (DEFI) and, overall, a governance protocol. For this phase, to be completed by end of December 2022, itβs expected the IM transactions will be also funded by further multiple liquidity providers (crypto asset managers and direct IM investors through liquidity pools partnerships). The commitment budgeted by VeChain within the VeChain Agreement to directly subscribe the Inventory (NFT-based) Monetisation Transactions is up to US$10m, of which approximately US$1.6m immediately releasable to fund the available eligible inventory of the first Italian client selected and the rest, during the Phase Two, for one or more further client companies, also including the current UK portfolio. ==== Recent commercial developments ==== On 12th September 2022, the company announced the execution of the group's first IM transaction in connection with Phase One of the VeChain Agreement. The client company to this inaugural IM transaction is a well-established business with significant market presence in Europe (mainly in Italy), Africa and the United States. The client company is involved in the design and manufacture of industrial and specialised vehicles as well as electronic systems, electrical wiring, and other components. The inaugural IM transaction has been structured as follows: * a StockCo, an overview of which was given in the SYME Business Model Canvas in the 2021 Annual Report, entered into the commercial contractual package, with a duration of three years, with the client company to execute the inaugural IM transaction. The total value of the initial warehoused goods to be monetised is approximately β¬1.6m; * with reference to the fully owned SYME subsidiaries: ** Supply@ME Italy, acting as originator and servicer, signed an operating agreement with StockCo which includes an annual inventory servicing fee and, additionally, will charge the client company an up-front origination fee; ** NewCoTech, owner of the IM intellectual property rights and acting as platform provider, has signed a license agreement with the StockCo and will charge an annual platform fee. The platform will be used by the client company to upload inventory to be monetised (and, accordingly, minting the NFTs), integrate and transfer the Enterprise-Resource-Planning data to allow the necessary monitoring and inspection activities by the StockCo, supported by Supply@ME Italy; and ** StockCo, in turn, mints NFTs to be subscribed by VeChain under the VeChain Agreement. Each NFT represents a basket of rights over the inventory, including the opportunity to achieve monthly returns generated by the inventory trading activities performed by the StockCo and the right of the NFT holder, as ultimate owner of the goods, to take possession of the physical goods if certain conditions are met.
Summary:
Please note that all contributions to Stockhub may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here.
You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see
Stockhub:Copyrights
for details).
Do not submit copyrighted work without permission!
Cancel
Editing help
(opens in new window)