Repayment of Mercator Facility in Cash

RNS Number : 7574D

Supply @ME Capital PLC

21 October 2022

 

21 October 2022

Supply@ME Capital plc

(the "Company or "SYME")

Exercise of Mercator Repayment Option and repayment in cash of all outstanding amounts payable to Mercator

Words and expressions used but not defined in this announcement shall have the meanings given to them in the Company's prospectus published on 3 October 2022 (the "Prospectus"), which is available at: https://www.supplymecapital.com/wp-content/uploads/2022/10/SYME-Prospectus-Clean91.pdf .

SYME, the fintech business which provides an innovative fintech platform ("Platform") for use by manufacturing and trading companies to access Inventory Monetisation© solutions enabling their businesses to generate cashflow, announces that it has exercised the Mercator Repayment Option and paid £3,536,553 in cash in immediately available funds to Mercator in full and final settlement of all outstanding amounts payable under the Mercator Loan Notes and the Mercator CLNs (including incurred fees) utilising the Venus Amount.  Accordingly, the Company will not be required to issue any additional Mercator Conversion Shares to Mercator.

Contact information

Alessandro Zamboni, CEO, Supply@ME Capital plc, [e-mail]  

Paul Vann, Walbrook PR Limited, [phone], [e-mail]  

Media

Nicola Louis, MHP,[e-mail]

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 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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