31st Dec 2020 14:16
(Alliance News) - Supply@ME Capital PLC on Thursday said it continues to move towards further milestones in its inventory monetisation business.
The fintech firm said it and its partner StormHarbour Securities LLP have now completed the legal documentation, process definition and operating structure for a repeatable and scalable securitised investment product.
Supply@ME Capital said eligible client companies are now ready to implement the inventory monetisation process following the approval of the structure and derecognition accounting treatment of the inventory monetisation transaction.
Next steps towards the launch of the securitisation product include negotiations to move from a "single transaction" to a monetisation programme for the whole of 2021, representing a scale-up with a more flexible structure, it said.
Supply@ME shares closed 14% lower in London on Thursday at 0.57 pence each. For the year as a whole, the stock fell 48%.
By Evelina Grecenko; [email protected]
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