Last checked at 19 Jun 2020 11:04
Supply @ME Capital plc
("SYME", the "Group")
Change of Accounting Reference Date
Supply @ME Capital plc, the innovative fintech platform that provides inventory monetisation services to European manufacturing and trading companies, announces that the Board has decided to change the Group's accounting reference date and financial year-end from 31 March to 30 September. This change is in line with the Board's intended strategy to align the accounting reference date to the operations of the Group, which in turn is aligned with the working capital cycles of our customer base, being manufacturing companies that tend to build up stocks during the year.
Accordingly, the Group intends to publish unaudited interim accounts for the twelve months ended 31 March 2020 on June 30th. The Board however may take advantage of the 30 day reporting extension offered by the FCA, with the potential delay of the release of the interims due to continuing lockdown restrictions effecting our ability to visit our subsidiary office location in Italy. The Group will publish audited accounts for the 18-month period from 1 April 2019 to 30 September 2020.
Thereafter, interim and annual reports will be published each year for the 6 months to 31 March and 12 months to 30 September respectively.
We look forward to updating the market on operational progress when we issue our second interim statement.
Alessandro Zamboni, CEO