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Pin to quick picksSupply@me Cap Regulatory News (SYME)

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Board Change

4 Mar 2022 07:00

RNS Number : 6640D
Supply @ME Capital PLC
04 March 2022
 

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.

 

4 March 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 James Coyle, Non-Executive Chairman, has tendered his resignation as a Director of the Company. Mr Coyle is leaving the company for personal reasons, which will allow him to better balance existing time obligations across his extensive portfolio of non-executive roles. The Board has acknowledged Mr Coyle's personal reasons and has agreed with Mr Coyle that his departure will take place with immediate effect.

In the RNS of 31 December 2021, the Company provided an update on in-progress White Label and Inventory Monetisation initiatives. Once the first transactions are complete, the Board expects an increase in business volume. Due to the level of commitment this will subsequently require, Mr Coyle has decided it is the right time to step away from his role at SYME.

The Board is now actively seeking a permanent, long-term successor to Mr Coyle. In the interim period, until a permanent successor is in situ, the Board will appoint one of its existing non-executive directors to chair future Board and Regulatory meetings.

Additionally, the Company has appointed an independent adviser (the "Adviser") to complete a strategic review of the Company, as it prepares for the next phase of growth, which will focus upon the delivery of its long-term business objectives, and its governance system requirements. Upon completion of the Adviser's review, the Adviser will make recommendations on any additional expertise and capabilities required to ensure Supply@ME is positioned to realise its planned global growth and diversification of revenue streams. The Adviser will also make recommendations on the potential appointment of a corporate broker and any additional advisers to the Group.

Mr Coyle joined the Board at the end of October 2021 and has since been instrumental in supporting the Company's progression. During his time with the Company, TradeFlow Capital Management ("TradeFlow") signed a revenue-generating Investment Advisory agreement with DP World, per the RNS of 18 February 2022. He has also worked to improve SYME's corporate governance structure and implement a refreshed investor relations strategy.

SYME Chief Executive, Alessandro Zamboni, said: "I am truly grateful to Jim for his support and counsel. While his tenure with us has been short, his impact has been immense. The level of commitment he has given to the role far exceeded our expectations and he leaves our business in a stronger position than he found it. We are very sorry that demands on Jim's highly valuable time prevent him from being able to provide the level of support required for our next phase of our growth. On behalf of the Board, I would like to thank him for his tremendous service to Supply@ME. I wish Jim all the best for the future."

 

James Coyle said: "It is with deep regret that I have decided to step down from my role at Supply@ME. Having worked closely with the extremely dedicated team I wish the business every success in the years to come."

 

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 programme 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

 

 

 

 

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BOAJIMFTMTIMMIT
Date   Source Headline
28th Mar 20247:00 amRNSTransfer of Warrants
27th Mar 20247:00 amRNSTransaction of a Person Closely Associated
22nd Mar 20247:00 amRNSPDMR/PCA shareholding: stock loans update
29th Feb 20247:00 amRNSBusiness, trading and funding update
19th Feb 20247:00 amRNSExercise of warrants, issue of equity and TVR
26th Jan 20247:00 amRNSHolding(s) in Company
11th Jan 20247:00 amRNSExercise of warrants, issue of equity and TVR
3rd Jan 20247:00 amRNSWhite-Label IM Agreement - funding secured
5th Dec 20238:40 amRNSFunding and Business update
23rd Nov 20237:00 amRNSTransfer of Warrants
6th Nov 20237:00 amRNSExercise of Warrants, issue of equity and TVR
1st Nov 20238:58 amRNSTotal Voting Rights
10th Oct 20237:00 amRNSExercise of Warrants, issue of equity and TVR
29th Sep 20237:00 amRNSHalf-year Report
25th Sep 20237:00 amRNSExercise of Warrants, issue of equity and TVR
12th Sep 20237:00 amRNSExercise of Open Offer Warrants
1st Sep 20237:00 amRNSTotal Voting Rights
17th Aug 20237:00 amRNSExercise of options, issue of equity and TVR
4th Aug 202312:34 pmRNSHolding(s) in Company
2nd Aug 20237:00 amRNSTotal Voting Rights
7th Jul 20237:00 amRNSDirector/PDMR Shareholding
5th Jul 20237:00 amRNSExercise of Warrants, issue of equity and TVR
3rd Jul 20237:00 amRNSExecution of first UK IM using traditional funding
30th Jun 20235:36 pmRNSHolding(s) in Company
30th Jun 202312:54 pmRNSTotal Voting Rights
30th Jun 20237:00 amRNSTransaction of a Person Closely Associated
23rd Jun 20235:37 pmRNSResult of General Meeting
23rd Jun 20235:36 pmRNSResult of AGM
15th Jun 202311:00 amRNSReplacement Total Voting Rights
15th Jun 20238:00 amRNSNew Italian PNP regulation comes into effect
13th Jun 20237:00 amRNSExercise of Warrants, issue of equity and TVR
9th Jun 20237:00 amRNSFirst UK IM transaction from traditional funding
5th Jun 20237:00 amRNSExercise of Warrants, Issue of Equity and TVR
2nd Jun 202312:51 pmRNSHolding in Company
31st May 20233:56 pmRNSNotice of GM of Open Offer Warrantholders
31st May 20233:55 pmRNSNotice of Annual General Meeting
26th May 20237:00 amRNSAdmission of Shares and Total Voting Rights
23rd May 20237:00 amRNSExercise of Warrants, Issue of Equity and TVR
22nd May 20237:00 amRNSGrant of Awards under the Supply@ME LTIP
19th May 20231:40 pmRNSHolding(s) in Company
16th May 20237:00 amRNSInvestor Presentation via Investor Meet Company
9th May 20233:03 pmRNSHolding(s) in Company
5th May 20237:00 amRNSExecution of first IM from traditional funding
4th May 202312:40 pmRNSAdmission and Exercise of Open Offer Warrants
2nd May 202312:00 pmRNSSYME moves to SETS trading platform
28th Apr 20232:51 pmRNS2022 Annual Report and Accounts and Financing
26th Apr 20237:00 amRNSCommitment for first IM from traditional funding
13th Apr 202310:59 amRNSHolding(s) in Company
12th Apr 20235:38 pmRNSNotification of Transaction of a PCA
3rd Apr 202311:52 amRNSTotal Voting Rights

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