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Funding Update

2 Jun 2025 07:00

RNS Number : 9065K
Supply@ME Capital PLC
02 June 2025
 

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.

2 June 2025

Supply@ME Capital plc

(The "Company" or "SYME")

Funding update

 

SYME, the fintech business which provides an innovative fintech platform (the "Platform") for use by manufacturing and trading companies to access Inventory Monetisation© ("IM") solutions enabling their businesses to generate cashflow, announces the following update in respect of the US$5,150,000 on-demand convertible funding facility signed on 18 March 2025 with Nuburu Inc., a NYSE listed (NYSE American: BURU) high-tech company of which Alessandro Zamboni, a director of the Company, is Executive Chairman ("BURU") (the "New On-Demand Facility").

As set out in the announcement dated 19 March 2025, SYME was due to receive the second tranche of US$500,000 on or before 31 March 2025, a third tranche of US$1,000,000 on or before 30 April 2025, and a fourth tranche of US$1,000,000 on or before 31 May 2025. On the 1 April 2025 and 1 May 2025, the Company announced respectively that the second and third tranches had not been received by the Company. Additionally, on the 1 May 2025, the Company announced that total amounts of US$370,000 have been received from BURU leaving unpaid amounts of US$130,000 in relation to the second tranche of US$500,000 due on or before 31 March 2025.

In addition, as set out in the announcement dated 19 March 2025, an amount of US$150,000 was received in March 2025 from BURU as an advanced payment for the New On-Demand Facility. As at the date of the announcement, no further amounts have been received from BURU by the Company since 1 May 2025. Furthermore, the fourth tranche of US$1,000,000 due on or before 31 May 2025 has currently not been received by the Company.

The latest communication that the board of directors of SYME has had with BURU, via Alessandro Zamboni, is that BURU is finalising the necessary regulatory approvals to allow BURU to raise the required capital to complete its strategic investments, which include also the full payment of each instalment envisaged within the New-On Demand Facility. The Company will issue a further update once the overdue amounts have been received, or as otherwise required.

Alessandro Zamboni, the Chief Executive Officer of the Company, is a related party in connection with the New On-Demand Facility due to the fact that he is also the Executive Chairman of BURU.

For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of SYME is Alessandro Zamboni, CEO.

 

 

Notes

SYME and its operating subsidiaries provide its 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 warehoused goods waiting to be sold to end-customers or goods that are part of a typical import/export transaction.

Contacts

Albert Ganyushin, Chairman, Supply@ME Capital plc, investors@supplymecapital.com

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UPDUASKRVOUNRAR
Date   Source Headline
10th Aug 20217:00 amRNSAppointment of David Bull to the Board
9th Aug 20217:00 amRNSLaunch of Global Inventory Monetisation Fund
30th Jul 20214:00 pmRNSResult of AGM
29th Jul 20214:40 pmRNSSecond Price Monitoring Extn
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6th Jul 20217:00 amRNSCompletion of Acquisition & Board Restructuring
5th Jul 20217:00 amRNSNotice of 2020 AGM
29th Jun 20217:00 amRNSCaptive Bank Funding Strategy Update
28th Jun 20217:00 amRNSPublication of 2020 Annual Accounts
16th Jun 20212:49 pmRNSIssue of £5.6million Convertible Loan Notes
4th Jun 20217:00 amRNSUpdate on Publication of 2020 Annual Accounts
26th May 20217:00 amRNSAcquisition Update
30th Apr 20212:41 pmRNSResult of AGM
23rd Apr 20217:00 amRNSFinancial Calendar Update
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1st Apr 20217:00 amRNSTrading Update
19th Mar 20217:00 amRNSTransaction Update
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9th Mar 20213:09 pmRNSRestoration of Listing and Resumption of Dealings
16th Feb 20217:00 amRNSUpdate on Restoration of Listing
4th Feb 20218:00 amRNSUpdate on Relisting
29th Jan 20217:15 amRNSInterim Results for the 6 months to 30 June 2020
28th Jan 20217:00 amRNSStatutory Audited Accounts to 31 December 2019
21st Jan 20217:32 amRNSTemporary Suspension
20th Jan 20217:00 amRNSShariah Compliant Platform officially approved
19th Jan 20217:00 amRNSChange of Accounting Reference Date
11th Jan 20217:00 amRNSNew Co-Operation Agreement
4th Jan 20219:05 amRNSSecond Price Monitoring Extn
4th Jan 20219:00 amRNSPrice Monitoring Extension
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31st Dec 202011:00 amRNSPrice Monitoring Extension
31st Dec 20207:00 amRNSInventory Funding: Year-End Update
29th Dec 20207:25 amRNSHolding(s) in Company
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29th Dec 20207:25 amRNSHolding(s) in Company
29th Dec 20207:25 amRNSDirector/PDMR Shareholding
24th Dec 20207:00 amRNSNew Investment in SYME
22nd Dec 202011:05 amRNSSecond Price Monitoring Extn
22nd Dec 202011:00 amRNSPrice Monitoring Extension
22nd Dec 20207:00 amRNSCaptive Bank Update: Quadrivio Group named
10th Dec 20204:41 pmRNSSecond Price Monitoring Extn
10th Dec 20204:36 pmRNSPrice Monitoring Extension
7th Dec 20204:41 pmRNSSecond Price Monitoring Extn

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