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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 UNION (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 2022
Supply@ME Capital plc
(The "Company" or "SYME")
Board Change
Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation© service to manufacturing and trading companies, announces that Susanne Chishti, Independent Non-Executive Director, has tendered her resignation from the Board, her last day with the Company being 14th April 2022. Ms Chishti is stepping down in order to explore other new business opportunities arising from her broad portfolio of non-executive roles.
Ms Chishti has served as a member of the Board since the Company's admission to the London Stock Exchange in March 2020 and, over the past two years, has been instrumental in guiding the Company through its early stages of development. During her time with SYME, the Company acquired TradeFlow Capital Management ("TradeFlow"), diversified its business lines and geographic footprint and launched the Global Inventory Monetisation Fund.
Following the publication of the 2021 Annual Report, envisaged by end of April, the Company will finalise its strategic plan and prepare to enter its next phase of growth. Accordingly, Ms Chishti believes that now is the right time to step away from her role at SYME, to focus more on her other commitments and to explore new projects. The Company agreed to accept her resignation with immediate effect.
The Board is now actively seeking a long-term successor to Ms Chishti.
SYME Chief Executive, Alessandro Zamboni said:
"It has been a pleasure to work with Susanne, who has been with the Company since its public listing. Her contributions to Supply@ME have been invaluable and on behalf of the whole Board I would like to offer her our heartfelt thanks for all her hard work and wish her success in all her future endeavours."
Former Non-executive Director, Susanne Chishti said:
"I am sorry to be leaving Supply@Me. It has been a pleasure to help guide the Company over the last two years. I look forward to seeing the Company go on to realise its potential."
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 warehouse goods monetisation. This program will be focused on creditworthy companies and not those in distress or otherwise seeking to monetise illiquid inventories.
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 brian.norris@cicero-group.com