RCS - Supply @ME Capital - Tradeflow and DP World complete first transaction

Supply@Me CapitalAnnouncement

23/06/2022 07:00

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RNS Number : 9297P  Supply @ME Capital PLC   23 June 2022

 

 

23 June 2022

 

 Supply@ME Capital plc

(The "Company" or "SYME")

TradeFlow completes first transaction introduced by CARGOES Finance By DP
World

Supply@ME Capital plc, the innovative fintech platform which provides the
Inventory Monetisation© service to manufacturing and trading companies,
announces that TradeFlow Capital Management Pte Ltd ("TradeFlow"), part of the
Supply@Me Group, has completed the first warehoused commodities monetisation
transaction introduced by CARGOES Finance By DP World. The completion of the
first transaction follows the partnership agreement the parties signed earlier
this year ("the partnership"), announced in the RNS of 18 February 2022.

TradeFlow Funds have monetised the inventory of a small to medium-sized
enterprise (SME) coffee company based in the United Arab Emirates (UAE), via
the Dubai Multi Commodity Centre (DMCC) Electronic Warrants ("E-Warrants")
platform. TradeFlow is a shariah-compliant, Murabaha transaction member of the
DMCC E-Warrant platform.

Under the terms of the transaction, the USD TradeFlow Fund SP received the
authenticated warehouse E-Warrants for the coffee inventory digitally. In
total, TradeFlow received 66 E-Warrants via the DMCC platform, representing
coffee stored in the DMCC Coffee Centre warehouse located in the Jebel Ali
Freezone.

Transactions completed under the partnership with CARGOES Finance By DP World
will contribute to the Supply@Me Group's Investment Advisory revenue stream.
The Company has issued an RNS Reach announcement on this occasion to confirm
the completion of the first transaction under the partnership. As the Board
expects the first transaction under the partnership to pave the way for a
significant number of transactions in the future, the Company will inform the
market of any future transactions under the partnership only if they stand to
significantly impact SYME's financial performance. Any such information will
be distributed via the London Stock Exchange's Regulatory News Service.

CARGOES Finance By DP World is a trade finance fintech platform which enables
access to working capital for enterprises, specifically SMEs, by connecting
them with premier financial institutions worldwide. It was launched in July
2021.

DMCC was established in 2002 by the Government of Dubai to provide the
physical, market and financial infrastructure required to establish a hub for
global commodities trade. Today it serves more than 20,000 businesses from a
wide range of industries and sectors, as diverse as agro, energy and financial
services to diamonds, gold, and base metals. Members can access all the
advantages of unparalleled trade connections direct to Dubai, the UAE and the
world's key commodities markets.

SYME Chief Executive, Alessandro Zamboni, said: "I am immensely proud of the
TradeFlow team for achieving this milestone first transaction in partnership
with CARGOES By DP World and the DMCC. It is a testament to the value
TradeFlow continues to build as an important member of the Supply@ME stable
and demonstrates the potential for future transactions under this exciting
partnership with DP World."

TradeFlow Chief Executive and SYME executive director, Tom James, said: "We
are pleased to share the details of the monumental first transaction under the
agreement with DP World. The deal is not only the first between us and the DP
World CARGOES Platform, but is also TradeFlow's first ever transaction in the
UAE, and the first transaction for the DMCC Coffee Centre using exciting
E-Warrants technology. We would like to thank the teams at DP World and the
DMCC for their dedication and support to get this transaction over the line.
We look forward to continuing our work with DP World, using lessons learned
from this first transaction to pave the way for further collaboration."

Sinan Ozcan at DP World Financial Services Limited, said: "I am delighted to
see this exciting transaction through TradeFlow Capital Management. We are
committed to providing access to finance for SMEs that allows them to realise
their potential. We worked very closely with the client, TradeFlow and DMCC to
execute this one-of-a-kind inventory financing transaction. We're extremely
proud that the platform was able to accommodate the inventory financing so
quickly. It is great to collaborate with our partners to offer valuable
digital tools so that businesses can continue to grow."

 

Notes

Supply@ME Capital PLC and its operating subsidiaries (together the "Supply@Me
Group") provide an innovative fintech platform (the "Platform") for use by
manufacturing and trading companies to access inventory trade solutions
enabling their businesses to generate cashflow, via a non-credit approach and
without incurring debt.  This is achieved by their existing eligible
inventory being added to the Platform and then monetised via purchase by third
party Inventory Funders.  The inventory to be monetised can include warehouse
goods waiting to be sold to end-customers or goods/commodities that are part
of a typical import/export transaction. SYME announced in August 2021 the
launch of a Global Inventory Monetisation programme which will be focused on
both inventory in transit monetisation and warehouse goods monetisation. This
programme will be focused on creditworthy companies and not those in distress
or otherwise seeking to monetise illiquid inventories.

Financial services offered on the CARGOES Finance Platform are associated with
CARGOES By DP World (A suite of enterprise services and products for the world
of logistics and trade) and provided by DP World Financial Services Limited.
DP World Financial Services Limited is a company registered under the Dubai
International Financial Centre (DIFC) and regulated by Dubai Financial
Services Authority (DFSA).

 

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

Chanice Smith, Cicero/AMO, +44 (0)20 7947
5317; chanice.smith@cicero-group.com (mailto:chanice.smith@cicero-group.com)

 

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