REG - Supply@ME Capital - New equity funding secured for £1,552,500

Supply@Me CapitalAnnouncement

15/05/2024 07:00

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RNS Number : 4474O  Supply@ME Capital PLC  15 May 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.

 

15 May 2024

 

Supply@ME Capital plc

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

New equity funding secured for £1,552,500

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 it has secured new equity funding with
gross proceeds of £1,552,500 (the "New Equity Funding").

The New Equity Funding comprises:

·   The entry into a binding subscription agreement with a UK investment
firm for £1,552,500 of gross proceeds on behalf of its private clients (the
"Subscription").

·    The issue of 9,000,000,000 new ordinary shares of £0.00002 each (the
"Subscription Shares") at a price of 0.01725 pence per Subscription Shares to
raise gross proceeds of £1,552,500.

·    Application will be made to the Financial Conduct Authority and to
the London Stock Exchange for the Subscription Shares to be admitted to the
standard segment of the Official List and to trading on the London Stock
Exchange's main market for listed securities, respectively (the "Admission").

·    The Admission is expected to occur at 8.00am on or around 28 May
2024.

·   Following the issue of the Subscription Shares, the Company will issue
450,000,000 new warrants to the UK investment firm, the exercise price of the
warrants is 0.01725 pence each, with the warrants being exercisable anytime up
to 28 May 2029.

·    Keith, Bayley, Rogers & Co. Limited acted as corporate broker to
SYME in relation to the Subscription.

As previously announced on 1 May 2024 in connection with the Annual Report and
Accounts for the year ended 31 December 2023 ("2023 Annual Report and
Accounts"), the Company has been exploring alternative options for funding to
allow it to meet its ongoing commitments and obligations. This New Equity
Funding provides the Company with additional funding to that available under
the Top-Up Shareholder Loan Agreement that was executed with The AvantGarde
Group S.p.A ("TAG") on 28 September 2023, further details of which can be
found in the 2023 Annual Report and Accounts.

 

The New Equity Funding is expected to be used by the Company and Group to
satisfy its ongoing working capital requirements and to improve the Company's
overall capitalisation as SYME seeks to deploy an increasing number of IM
transactions, including, inter alia, from i) the IM programme with the Italian
neo banking group announced by the Company on 29 April 2024; ii) the
commitment achieved from an asset manager specialised in digital assets to
subscribe the first tranche of on over-all security token issuance as
announced by the Company on 5 April 2024; and iii) the Group's first
White-Label IM agreement with Banco BPM S.p.A announced by the Company on 3
January 2024.

 

Alessandro Zamboni, CEO of SYME, said:

"I am excited to see such great interest on our company by Keith, Bayley,
Rogers & Co. Limited and its investors. It is the first time that SYME
engaged a broker to raise capital and it has demonstrated that, as recorded in
2023, London remains Europe's most active equity market with more capital
raised than the other European exchanges for high-growth businesses.

I am sure that our inventory funders and partners will see this capital
infusion as a positive step forward for SYME, considering its key role as
inventory specialist within the current Inventory Monetisation programmes and
future opportunities."

Admission of new ordinary shares and Total Voting Rights

 

The Admission is expected to occur at 8.00am on or around 28 May 2024. The
Subscription is conditional on Admission.

Following Admission, the Company's issued ordinary share capital will comprise
71,732,142,145 ordinary shares of £0.00002 each (assuming no other warrant
conversions take place between now and 28 May 2024). Accordingly, this number
will represent the total voting rights in the Company, and, following
admission of the Subscription Shares, may be used by shareholders as the
denominator for the calculation by which they can determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure and Transparency
Rules. The new shares will rank pari passu in all respects with the ordinary
shares of the Company currently traded on London Stock Exchange's main market
for listed securities.

 

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
(mailto: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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