REG - Supply @ME Capital - Conversion of Convertible Loan Notes

Supply@Me CapitalAnnouncement

28/03/2022 07:00

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RNS Number : 2029G  Supply @ME Capital PLC   28 March 2022

28 March 2022

Supply@ME Capital plc

(The "Company" or "SYME")

Conversion of Convertible Loan Notes

 

Supply@ME Capital plc, the innovative fintech platform (the "Platform") which
provides the Inventory Monetisation© service to manufacturing and trading
companies, announces that it has received a conversion notice from Mercator
Capital Management Fund LP ("Mercator") in respect of the outstanding
£178,333.34 in principal amount of the Convertible Loan Notes issued by the
Company on 2 February 2022, in lieu of a cash repayment, in accordance with
the terms of the Loan Note Facility announced in the RNS of 29 September
2021.

SYME issued Convertible Loan Notes with a total principal value of
£678,333.34 on 2 February 2022, at its discretion, in order to support the
working capital needs of the Company and its operating subsidiaries (the
"Group"). As stated in the RNS of 25 February 2022, SYME previously received a
conversion notice from Mercator for an initial £500,000.00 in principal
amount of the Convertible Loan Notes as issued by the Company on 2 February
2022.

Following receipt of the conversion notice, £178,333.34 of the Convertible
Loan Notes are to be converted into 316,446,349 Ordinary shares (the
"Conversion Shares") at a conversion price of £0.00056.  This represents
0.9% of the Company's issued share capital prior to the issue of the
Conversion Shares. On conversion:

·    no Convertible Loan Notes issued by the Company to Mercator on 2
February 2022 will remain outstanding;

·    £678,333.34 of Convertible Loan Notes issued by the Company on 4
March 2022 will remain outstanding.

In addition, as announced in the RNS dated 29 September 2021, warrants to
Mercator have been issued for 20% of the total principal value of the
Convertible Loan Notes and Loan Notes issued to date.

Application has been made to the Financial Conduct Authority and to
the London Stock Exchange for admission of the Conversion Shares to the
standard segment of the Official List and to trading on the London Stock
Exchange's main market for listed securities, respectively ("Admission"). It
is expected that Admission will occur at 8.00 a.m. on or around 29 March
2022. The Conversion Shares will rank pari passu with the existing issued
Ordinary Shares in the Company.

Notes

Supply@ME Capital PLC and its operating subsidiaries (together the "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.

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
(mailto:paul.vann@walbrookpr.com)

Brian Norris, Cicero/AMO, +44 (0)20 7947 5317 brian.norris@cicero-group.com
(mailto:brian.norris@cicero-group.com)

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