REG - Supply @ME Capital - Update on first Inventory Monetisation Transaction

Supply@Me CapitalAnnouncement

29/07/2022 07:00

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RNS Number : 2255U  Supply @ME Capital PLC   29 July 2022

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.

 

29 July 2022

 

Supply@ME Capital plc

(The "Company" or "SYME")

Update on inaugural Inventory Monetisation© transaction

 

Supply@ME Capital plc, 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 update the market with reference to the execution of the first
official Inventory Monetisation ("IM") transaction.

This follows the announcement made by the Company on 28 June related to the
strategic alliance ("Agreement") signed with VeChain Foundation 1  ("VeChain")
aimed at launching the Web3 2  stream and funding up to USD $10m of IM
transactions, leveraging the minting of dedicated Non-Fungible Tokens ("NFT")
directly subscribed by VeChain.

SYME and VeChain worked closely in July to design the integration processes
between their respective platforms. As of today, the IM transaction is in the
final stage of its completion which will involve the coordination of the
formal signing process of the following Parties:

·    the Stock (trading) Company, as per the SYME Business Model Canvas
outlined in the Company's Annual Report and Accounts for the year ended 31
December 2021, which will sign the commercial agreements with the Client
Company to execute the IM transaction;

·    VeChain Foundation, who in turn, signs the NFT purchase agreement
with the Stock (trading) Company, in accordance with the binding commitment
provided within the Agreement; and

·    finally, the Company's Italian operating subsidiaries which sign the
necessary service agreements with the Stock (trading) Company.

All Parties are fully committed to the formal completion of the IM
transaction, following each parties final internal approval process which,
with reference to the Client Company (a global manufacturer), is planned for
next week.

The Company will provide further updates in due course, including details
regarding the revenue impact of the IM transaction executed.

 

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

Paul Vann, Walbrook PR Limited, +44 (0)20 7933 8780; 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 (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 warehoused goods
monetisation. This programme will be focused on creditworthy companies and not
those in distress or otherwise seeking to monetise illiquid inventories.

 

 

 1  https://www.vechain.org/.

 2  According to Messari report "Crypto theses 2022", crypto, or the recently
en vogue "Web3", is an unstoppable force in the long-term. Web3 is an
all-encompassing term that captures cryptocurrencies (digital gold &
stablecoins), smart contract computing (Layer 1-2 platforms), decentralized
hardware infrastructure (video, storage, sensors, etc), Non-Fungible Tokens
(digital ID & property rights), DeFi (financial services to swap and
collateralize web3 assets), the Metaverse (the digital commons built in
game-like environments), and community governance (DAOs, or decentralized
autonomous organizations).

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