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19 Apr 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.
19 April 2021
Supply@ME Capital plc
(The "Company" or "SYME")
TradeFlow Capital Management ("TradeFlow"): Acquisition Update
Further to the announcement made by the Company on 17 March 2021 that it had signed Heads of Terms for the potential acquisition of TradeFlow Capital Management Pte. Ltd., the leading Singapore-based FinTech-powered commodities trade enabler focused on SMEs, SYME is pleased to provide the following update.
The due diligence process continues to progress well, as does the integration plan for the Supply@ME and TradeFlow inventory funding business models. The Company's and its advisors' review of the cross-border aspects of TradeFlow's business, its funding structures and inventory "in-transit" technology are underway.
The terms of the transaction and its financing are being structured so as to maximise existing shareholders' value.
SYME and TradeFlow are keen to complete the acquisition as soon as practicable. A further announcement will be made in due course.
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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