The Supply@Me Capital PLC (LON: SYME) share price surged 18.2% after the much-awaited Italian PNP Regulation was published in the Official Journal of the Italian Republic, making it officially a law within the country.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
The pegno non possessorio (PNP Regulation) publication introduces the concept of “security interest” into Italian law for the first time. It will allow entrepreneurs to fund their inventory more easily without selling it or disposing of their business assets. While the concept is new within Italian law, it is well established within European and UK law.
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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
The Publication of the PNP Regulation also allows the Italian Revenue Agency (Agenzia delle Entrate) to maintain a digital ledger for the registration of security agreements and to ensure that all parties involved keep their pledges.
The digital ledger will allow operations based on such pledges to be carried out swiftly and electronically (including, but not limited to, registration, modification, consultation by anyone, cancellation and renewal).
Furthermore, the PNP Regulation will allow Italian industrial and manufacturing operators to attract investments that will divest and finance their inventory. On the other hand, banks and other investors expand into inventory funding while ensuring that their rights as secured creditors are protected and can be enforced.
The regulation will also allow industry players to adopt the best practices in other countries that already have similar laws and have discovered the best ways to structure and implement such pledges.
Alessandro Zamboni, SYME’s CEO, said: “We are delighted to see the formal introduction of the PNP Regulation into Italian law and look forward to capitalising on the opportunities it will bring. We expect the legislation to make funding inventory-backed transactions more appealing and straightforward for banks and – more generally – the eco-system of our inventory funders, which in turn can be supported by our ready-to-go Platform.”
SYME expects the PNP Regulation to be highly beneficial to its Italian operations by attracting more funders to use its systems.
*This is not investment advice.
SYME share price.
The SYME share price surged 18.18% to trade at 0.065p, from Monday’s closing price of 0.055p.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.