Last checked at 9 Aug 2022 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
9 August 2022
Supply@ME Capital plc
(The "Company" or "SYME")
Update on inaugural Inventory Monetisation©: binding commitment signed with the client company
Further to the Company's recent announcement on 29 July, SYME, the fintech business which provides an innovative Platform for use by manufacturing and trading companies to access Inventory Monetisation© ("IM") solutions enabling their businesses to generate cashflow, is pleased to confirm that the client company has signed the binding commitment to execute the inaugural IM transaction.
The Company will provide further updates regarding this and, more broadly, its Captive Inventory Monetisation ("C-IM") initiatives in due course, also considering the other traditional inventory funding streams currently underway, aimed at deploying new IM transactions. Additionally, further updates will be made in due course regarding SYME's white-label proposition.
For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of SYME is Alessandro Zamboni, CEO.
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
Chris Wimpress, Cicero/AMO, +44 (0)79 7013 7527, chris.wimpress@cicero-group.com
Ed Saunders, Cicero/AMO, +44 (0)75 1017 4541, edward.saunders@cicero-group.com
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 warehoused goods monetisation. This programme will be focused on creditworthy companies and not those in distress or otherwise seeking to monetise illiquid inventories.