UK's Supply@ME plummets as resigned directors set to buy back unit TradeFlow

Supply@Me Capital

24/03/2023 11:20

** Shares of UK-based fintech firm Supply@ME  SYME.L  down
as much as 25.5% at 0.035p; top pct loser across London shares
    ** Co says its unit TradeFlow's co-founders, Thomas James
and John Collis, resigns as statutory directors of co
    ** James and Collis intend to exercise an option to buy back
TradeFlow, which was acquired by SYME in July 2021
    ** Valuation of TradeFlow as at Sept. 30 was 25.6 mln pounds
($31.26 mln)
    ** SYME adds that acquisition agreement from 2021 requires
buyback to occur during 24 months from completion of acquisition
    ** If current move holds, stock set to post fourth
consecutive session of losses
    ** As of last close, stock down 32% YTD

($1 = 0.8189 pounds)

 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))