REG - Supply @ME Capital - First UK IM transaction from traditional funding

Supply@Me CapitalAnnouncement

09/06/2023 07:00

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RNS Number : 0257C  Supply @ME Capital PLC   09 June 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM ("UK") 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.

 

8 June 2023

Supply@ME Capital plc

(the "Company", "Supply@ME" or "SYME")

Supply@ME secures a binding commitment for first Inventory Monetisation
transaction in UK, from traditional funding sources

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, is pleased to announce that has secured a binding commitment (the
"Commitment") provided by an institutional investor (the "Investor") to invest
in the first IM in the UK (the "Transaction").

Following the Company's announcement of its first Italian IM using traditional
funding sources on 5 May 2023, the Commitment is another key milestone under
Company's action plan to work with a consortium of European investors to fund
IM transactions with monetisable value of up to €5m, as announced on 20
January 2023.

The Commitment has been provided to the representative person of the stock
company which is going to be established in UK ("UK StockCo"). The funds
committed will be used by the UK StockCo to monetise up to £1.8m of
warehoused goods of a UK client company, which provides parts and technology
to the global marine industry (the "Client Company").

The Client Company has entered into the Commitment with the representative
person of the UK StockCo to finalise the necessary definitive commercial
agreements in relation to the Transaction by 30 June 2023.

SYME will provide further details regarding the Transaction following the
execution of the definitive commercial agreements between the UK StockCo and
the Client Company and the funding instruments subscribed by the Investor.

Alessandro Zamboni, CEO of SYME, said:

"Our first IM transaction using traditional funding in the UK represents
another key milestone, following the first IM using traditional funding in
Italy. Momentum is building and our pipeline is strong and growing every day,
as we continue to build our traditional and non-traditional funding routes.
There are further milestones to reach to activate all of our initial funding
routes, however, we now have a clear base in both core markets from which we
are pursuing new and existing opportunities."

"This milestone will also help us to target our strategic goal to have
white-label and self-funding transactions up & running in our core regions
in 2024, with the first agreements with banks expected in 2023."

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

MHP Group, SupplyME@mhpgroup.com (mailto:SupplyME@mhpgroup.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. SYME announced in August 2021 the launch
of a global Inventory Monetisation programme which will be focused on both
inventory in transit monetisation and warehoused goods monetisation. This
programme will be focused on creditworthy companies and not those in distress
or otherwise seeking to monetise illiquid inventories.

 

 

 

 

 

 

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