Change of name to Supply@ME Capital plc confirmed

RNS Number : 8935L

Supply @ME Capital PLC

05 May 2020

 

05 May 2020

Abal Group plc ("the Company")

Confirmation of Change of Company Name

to

Supply@ME Capital plc ("Supply@ME")

&

TIDM and Website Address details

Further to the announcement by the Company dated 23 March 2020 detailing the completion of the acquisition of Supply@ME S.r.l., Admission to The Standard Segment of the Official List of the Company's enlarged share capital, proposed change of name and Board changes, the Company is pleased to confirm that it has now received confirmation from Companies House that its name has been changed and formally registered as Supply@ME Capital plc.

The Company anticipates that all Trading Platforms and News Services will register the new name, Supply@ME Capital plc with the TIDM: SYME,  ISIN of the Ordinary Shares: GB00BFMDJC60 and SEDOL Code: BFMDJC6 within the next 24 hours. The Company's official website address is now: www.supplymecapital.com, where information required pursuant to its London Stock Exchange Standard Listing is available.

Enquiries:

Supply@ME Capital plc  c/o Walbrook PR Limited

Alessandro Zamboni, CEO  www.supplymecapital.com

Stanford Capital Partners   Patrick Claridge / John Howes / Bob Pountney

Tel: [phone]

Walbrook PR Limited    Tel: [phone]

(Media and Investor Relations)  [phone]

Paul Vann/Nick Rome/Nicholas Johnson  [e-mail]

Notes:

Supply@ME is a fast growing, innovative Company which has developed an alternative FinTech platform focussed on "inventory monetisation" which offers a wide range of manufacturing and trading businesses the means to release capital against the value of inventory, speeding up working capital cycles and improving supply chain efficiencies. Unlike conventional bank funding, the Supply@ME offering is not treated as debt finance on a company's balance sheet. Rather, it is a "true sale" of inventory. The transactions, based on innovative legal schemes, combine detailed regulatory and financial controls with leading-edge technology that allows accurate tracking and recording of inventory. This solution is proving attractive o both clients and investors and is highly scalable.

Supply@ME has originated more than EUR300 million of prospective "inventory monetisation transactions" in its first six months of operation and at the date of its Admission to the Standard List, 23 March 2020, over EUR970 million of prospective contracts have been originated. The target addressable inventory financing opportunity in Supply@ME's markets is estimated to comprise over EUR2 trillion of inventory under management.  

 

END

 

 

CANMZGGKMDDGGZZ