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17 Mar 2021 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
17 March 2021
Supply@ME Capital plc
(The "Company" or "SYME")
Inventory "in transit" monetisation: business acquisition
Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation service to manufacturing and trading companies, is pleased to announce that it has signed Heads of Terms ("HoT") for the acquisition of a leading FinTech-powered commodities trade enabler, focused on SMEs, based in Singapore.
The acquisition will allow SYME's Platform to complete its global offering, by monetising inventory (in particular, commodities) "in-transit". Not least, it would generate a number of attractive synergy benefits for SYME from both a funding and customer origination perspective.
Following the signing of the HoT and completion of Due Diligence, SYME expects to complete the acquisition within the next month.
A further announcement will be made on completion of the transaction.
The Company also plans to issue a Trading Update before the end of March.
Notes
Supply@ME enables businesses to generate cashflow, without incurring debt, by monetising their existing stock. Before a business has found an end-customer for its inventory, the Supply@ME platform enables them to sell ("monetise") their stock and receive cash immediately to boost their working capital. The Supply@ME service enables strong companies to improve their working capital cycle. SYME does not monetise inventory for companies in financial difficulty or with inventory that they are struggling to sell.
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
Brian Norris, Cicero/AMO, +44 (0)20 7947 5317
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