REG - Supply@ME Capital - Business update

Supply@Me CapitalAnnouncement

05/04/2024 07:00

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RNS Number : 3730J  Supply@ME Capital PLC  05 April 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM DOMESTIC LAW PURSUANT
TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK
MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS
DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

5 April 2024

 

Supply@ME Capital plc

(the "Company", "Supply@ME" or "SYME" and, together with its subsidiaries, the
"Group")

Business update: progress made on all the on-going streams

 

SYME, the fintech business which provides an innovative fintech platform (the
"Platform") for use by manufacturing and trading companies to access Inventory
Monetisation© ("IM") solutions enabling their businesses to generate
cashflow, provides the following business update, following the Company RNS
announcement made on 29 February 2024. Terms defined in this RNS have the same
meaning as those in the RNS released on 29 February 2024.

White-label IM business line

The Company announced that SYME and the working group (as referred to in the
RNS announcement made on 3 January 2024 and includes Banco BPM S.p.A. - "BBPM"
- and the WL Client Company) have been working closely to draft, review and
finalise the detailed commercial contracts which will implement the commitment
received from BBPM. Alongside this, the working group has been progressing the
onboarding of the identified remarketers, at the same time as evaluating the
opportunity for one of the remarketers to undertake a separate dedicated IM
transaction. SYME had expected the contracts to be completed by the end of
March 2024.

As of today, SYME, the working group and the external legal teams are
finalising the review of the commercial contracts and further meetings are
planned in the month of April with the list of eligible remarketers identified
by BBPM to finalise:

-     the remarketing commitment with the leading producer of the famous
Italian cheeses, that is also a client of BBPM, to underpin the execution of
the IM transaction; and

-     the signed term sheet with the same remarketer to enable an ad hoc
additional IM transaction with the remarketer.

Digital assets route

The Company continues to make solid progress in structuring a security token
framework with the CH Trading Hub, owned by Société Financière Européenne
S.A. ("SFE"), which will allow a first security token issuance up to USD$100
million to be subscribed in tranches, largely by institutional investors who
are active in the digital asset markets as announced in the RNS of 29 February
2024. SYME and the CH Trading Hub continue to be in advanced discussions with
an asset manager specialising in digital assets to secure a first commitment
of USD$5 million, together with the involvement of a regulated crypto exchange
which can support the distribution of the security token to its investor base
to progress the completion of the programme.

As of today, SYME confirms that through the strategic partnership with the CH
Trading hub it has secured a commitment of USD$5 million from the asset
manager specialised in digital assets and the team is working, alongside the
crypto exchange and an investment bank focussed on digital assets, to raise an
additional ticket worth USD$5 million to execute, within the overall US$100
million programme, an initial IM transaction with a pre identified Client
Company who are part of the current SYME' pipeline.

Cooperation with investment banks and asset managers

The Group has continued to work with an investment banking division of an
Italian neo banking group, who has expertise in the adoption of the PNP
Regulation, and two different asset fund managers, to evaluate their potential
participation in respect of ad hoc IM programmes.

The Company has made tangible progress on this stream and will update the
market in due course regarding how SYME and the CH Trading Hub aim to launch
specific IM programmes based on the traditional funding route, leveraging the
securitisation company authorised in Luxembourg and owned by SFE and the
SYME's current pipeline.

For the purposes of UK MAR, the person responsible for arranging release of
this announcement on behalf of SYME is Alessandro Zamboni, CEO.

 

Contact information

Alessandro Zamboni, CEO, Supply@ME Capital plc, investors@supplymecapital.com

 

Notes

SYME and its operating subsidiaries provide its 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
warehoused goods waiting to be sold to end-customers or goods that are part of
a typical import/export transaction.

 

 

 

 

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