RNS BOOM9 Aug 2022 08:03
Update on inaugural Inventory Monetisation(c): binding commitment signed with the client company
Further to the Company's recent announcement on 29 July, SYME, the fintech business which provides an innovative Platform for use by manufacturing and trading companies to access Inventory Monetisation(c) ("IM") solutions enabling their businesses to generate cashflow, is pleased to confirm that the client company has signed the binding commitment to execute the inaugural IM transaction.
The Company will provide further updates regarding this and, more broadly, its Captive Inventory Monetisation ("C-IM") initiatives in due course, also considering the other traditional inventory funding streams currently underway, aimed at deploying new IM transactions. Additionally, further updates will be made in due course regarding SYME's white-label proposition.
For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of SYME is Alessandro Zamboni, CEO.