Transaction Update

RNS Number : 8398S

Supply @ME Capital PLC

19 March 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

19 March 2021

Supply@ME Capital plc

(The "Company" or "SYME")

Inventory "in transit" monetisation: transaction update

The Company announced on 17 March 2021 that it had signed Heads of Terms ("HoTs") for the acquisition of a leading, Singapore-based FinTech-powered commodities trade enabler, focused on SMEs.  

Following subsequent market speculation regarding the identity of the target business, SYME is pleased to confirm that HoTs have been signed with TradeFlow Capital Management Pte. Ltd.[1] ("TradeFlow").

SYME expects to announce a further update within the next month.

Notes

Supply@ME enables businesses to generate cashflow, without incurring debt, by monetising their existing stock.  Before a business has found an end-customer for its inventory, the Supply@ME platform enables them to sell ("monetise") their stock and receive cash immediately to boost their working capital. The Supply@ME service enables strong companies to improve their working capital cycle.  SYME does not monetise inventory for companies in financial difficulty or with inventory that they are struggling to sell.

Contacts

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

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

Brian Norris, Cicero/AMO, [phone]

 

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[1] https://tradeflow.capital/

 

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