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PDMR/PCA Shareholding: Stock Loans Updates

17 Aug 2022 11:05

RNS Number : 3347W
Supply @ME Capital PLC
17 August 2022
 

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.

 

17 August 2022

 

 

Supply@ME Capital plc

(The "Company" or "SYME")

PDMR/PCA shareholding: stock loans updates

 

Further to the Company's announcement of 29 July 2020 ("Stock Loans RNS") pursuant to which SYME had been notified by 1AF2 Srl (now called the AvantGarde Group SpA or "TAG") that it had transferred as loan security a number of SYME shares to three lending platforms ("Lenders"), the Company has been further updated by TAG to confirm the maturity dates of each of the loans with the Lenders:

· High West Capital Partners LLC (1,615,253,000 SYME shares transferred): 2 June 2023;

· Stock Loan Solutions LLC (778,571,429 SYME shares transferred): 24 July 2023;

· Union Pacific Capital Ltd (3,500,000,000 SYME shares transferred): 9 June 2027.

The statement of "minimum period of 2 years" in the Stock Loans RNS referred to the arrangements with Union Pacific Capital Ltd which allows TAG to prepay the loan in the first 24 months only with the prior written consent of Union Pacific Capital and with Stock Loan Solutions LLC which allows prepayments only after the second anniversary. No prepayment is permitted under the arrangements with High West Capital Partners LLC. TAG has also informed the Company that, as at today, no permitted prepayments under these arrangements have been made.

Additionally, with reference to the statement included in the Stock Loans RNS where 1AF2 Srl, subject to regulatory approvals, was able to offer to invest funds from the capital raised into the Company's inventory funding process alongside institutions, TAG has confirmed to the Company that, as at today, no investment has been made.

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. 

 

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