REG - Supply @ME Capital - New Banking Facility

Supply@Me CapitalAnnouncement

13/10/2022 07:00

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RNS Number : 7718C  Supply @ME Capital PLC   13 October 2022

13 October 2022

Supply@ME Capital plc

(the "Company or "SYME", and together with its current subsidiaries, the
"Group")

Banco BPM Loan

SYME, the fintech business which provides an innovative fintech platform
("Platform") for use by manufacturing and trading companies to access
Inventory Monetisation© solutions enabling their businesses to generate
cashflow, announces that it has finalised a new unsecured bank loan  (the
"Banco BPM Loan") for its Italian subsidiary, Supply@ME Technologies S.r.l.,
with Banco BPM 1 , the third largest banking group in Italy. The Banco BPM
Loan will be primarily used for investment in technology, underpinning the
SYME Platform.

The key commercial terms of the Loan are as follows:

·    €1m as principal amount;

 

·    275 basis points over the Euribor interest rate; and

 

·    Repayment over a 5-year term, including the initial six months of
interest only repayments, followed by 54 months of combined principal and
interest repayments.

 

The Banco BPM Loan is an important building block of SYME's previously
announced Capital Enhancement Plan (please refer to the RNS published on 27
April 2022 for further details), representing a key milestone to enhance the
Group's capital structure and to secure financing on terms which are
considered more favourable to both SYME and its shareholders.

 

Alessandro Zamboni, CEO of SYME, said, "We are very pleased to secure this
loan facility with Banco BPM, which follows the analysis of the Group's
business plan and product suite. This is a key development for the business
which will help to lower the cost of capital for the Group."

 

 

Contact information

Alessandro Zamboni, CEO, Supply@ME Capital plc, investors@supplymecapital.com
(mailto:investors@supplymecapital.com)

Paul Vann, Walbrook PR Limited, +44 (0)20 7933 8780, paul.vann@walbrookpr.com
(mailto:paul.vann@walbrookpr.com)

Media

Nicola Louis, MHP, Nicola.Louis@mhpc.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
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 warehoused goods
monetisation. This programme will be focused on creditworthy companies and not
those in distress or otherwise seeking to monetise illiquid inventories.

 1  Banco BPM Group | Homepage (https://gruppo.bancobpm.it/en/)

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