Abal Group PLC Update on Name Change to Supply@ME Capital plc (0049K)
17 Avril 2020 - 8:00AM
UK Regulatory
TIDMSYME
RNS Number : 0049K
Abal Group PLC
17 April 2020
17 April 2020
Abal Group plc ("the Company")
Update regarding Delay in Change of Company Name
to
Supply@ME Capital plc ("Supply@ME")
Further to the announcement made by the Company dated 23 March
2020 and subsequent enquiries at Companies House, it has received
notification from Companies' House that significant delays are
currently being experienced in the processing of Name Change
Applications already lodged as a consequence of the Covid-19
Pandemic.
It states that the priority of Companies House during this
period remains the welfare of its staff and as a result it may not
be able to process documents as quickly as has been done
previously.
The Company wishes to assure shareholders that it is doing
everything it can to conclude the formal name change to Supply@ME
Capital plc as quickly as possible.
The Company will announce such name change as soon as formal
confirmation is received.
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
Notes:
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.
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END
MSCIRMATMTABMJM
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