REG - Supply @ME Capital - Result of Open Offer

Supply@Me CapitalAnnouncement

18/08/2022 07:00

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RNS Number : 4460W  Supply @ME Capital PLC   18 August 2022

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE
SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OR
WARRANTS.

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.

18 August 2022

Supply@ME Capital plc

(the "Company" or "SYME")

Result of Open Offer

SYME, the fintech business which provides an innovative platform for use by
manufacturing and trading companies to access Inventory Monetisation©
solutions enabling their businesses to generate cashflow, is pleased to
announce the results of the open offer for new ordinary shares of nominal
value £0.00002 each in the capital of SYME ("Ordinary Shares") (the "Open
Offer") made to shareholders of SYME on 22 July 2022.

The Company has received valid acceptances from Qualifying Shareholders and
applications under the Excess Application Facility in excess of the
641,710,082 Open Offer Shares made available to Shareholders in the Open
Offer. Accordingly, the Company will allot and issue a total 641,710,082 Open
Offer Shares together with Open Offer Warrants over 320,855,041 Ordinary
Shares to Qualifying Shareholders. The Open Offer has raised gross proceeds of
£320,855.04 (and net proceeds of £269,855.04).

The Company received valid acceptances from Qualifying Shareholders in respect
of 369,122,494 Open Offer Shares pursuant to the Open Offer Entitlements. In
addition, the Company has received applications from Qualifying shareholders
under the Excess Application Facility in respect of 5,334,122,228 Excess
Shares.

In accordance with the terms of the Open Offer, as the Excess Application
Facility was oversubscribed, the applications from Qualifying Shareholders for
Excess Shares have been scaled back pro rata to the number of Excess Shares
which Qualifying Shareholders applied for, and any monies received in respect
of unsuccessful applications for Excess Shares as a result of such reduction
will be returned to the relevant Shareholders.

As all available Open Offer Shares have been subscribed for by Qualifying
Shareholders, Venus Capital SA will not subscribe for any Open Offer Shares
(in the form of Fourth Tranche Subscription Shares).

The Company will apply to the London Stock Exchange for the admission of
641,710,082 Open Offer Shares to a Standard Listing and to trading on the Main
Market. It is expected that Admission will become effective and that dealings
will commence at 8.00 a.m. on 22 August 2022.

Following the allotment and issue of the Open Offer Shares, the Company's
issued share capital will comprise 42,994,575,554 Ordinary Shares. This figure
may be used by shareholders as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change to their interest in, the Company under the FCA's Disclosure Guidance
and Transparency Rules.

A copy of the Circular is available from the Company's website:
https://www.supplymecapital.com/ (https://www.supplymecapital.com/) .

Words and expressions defined in the Circular shall, unless the context
provides otherwise, have the same meanings in this announcement.

 

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

Contacts

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)

Chris Wimpress, Cicero/AMO, +44 (0)79 7013 7527,
chris.wimpress@cicero-group.com

Ed Saunders, Cicero/AMO, +44 (0)75 1017 4541, edward.saunders@cicero-group.com
(mailto:edward.saunders@cicero-group.com)

 

Notes

Supply@ME Capital plc and its operating subsidiaries 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 program will be focused on
creditworthy companies and not those in distress or otherwise seeking to
monetise illiquid inventories.

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