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.
15 May 2024
Supply@ME Capital
plc
(the
"Company", "Supply@ME" or "SYME" and, together with its
subsidiaries, the "Group")
New equity funding secured
for £1,552,500
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, is pleased to announce that it has
secured new equity funding with gross proceeds of £1,552,500 (the
"New Equity
Funding").
The New Equity Funding
comprises:
· The entry into a
binding subscription agreement with a UK investment firm for
£1,552,500 of gross proceeds on behalf of its private clients (the
"Subscription").
·
The issue of 9,000,000,000 new ordinary shares of
£0.00002 each (the "Subscription
Shares") at a price of 0.01725 pence per Subscription Shares
to raise gross proceeds of £1,552,500.
·
Application will be made to the Financial Conduct
Authority and to the London Stock Exchange for the Subscription
Shares to be admitted to the standard segment of the Official List
and to trading on the London Stock Exchange's main market for
listed securities, respectively (the "Admission").
·
The Admission is expected to occur at 8.00am on or
around 28 May 2024.
· Following the issue of the Subscription Shares, the Company
will issue 450,000,000 new warrants to the UK investment firm, the
exercise price of the warrants is 0.01725 pence each, with the
warrants being exercisable anytime up to 28 May 2029.
·
Keith, Bayley, Rogers & Co. Limited acted as
corporate broker to SYME in relation to the
Subscription.
As previously announced on 1 May
2024 in connection with the Annual Report and Accounts for the year
ended 31 December 2023 ("2023
Annual Report and Accounts"), the Company has been exploring
alternative options for funding to allow it to meet its ongoing
commitments and obligations. This New Equity Funding provides the
Company with additional funding to that available under the Top-Up
Shareholder Loan Agreement that was executed with The AvantGarde
Group S.p.A ("TAG") on 28
September 2023, further details of which can be found in the 2023
Annual Report and Accounts.
The New Equity Funding is expected
to be used by the Company and Group to satisfy its ongoing working
capital requirements and to improve the Company's overall
capitalisation as SYME seeks to deploy an increasing number of IM
transactions, including, inter alia, from i) the IM programme with
the Italian neo banking group announced by the Company on 29 April
2024; ii) the commitment achieved from an asset manager specialised
in digital assets to subscribe the first tranche of on over-all
security token issuance as announced by the Company on 5 April
2024; and iii) the Group's first White-Label IM agreement with
Banco BPM S.p.A announced by the Company on 3 January
2024.
Alessandro Zamboni, CEO of SYME, said:
"I
am excited to see such great interest on our company
by Keith, Bayley, Rogers & Co. Limited and its investors. It
is the first time that SYME engaged a broker to raise capital and
it has demonstrated that, as recorded in 2023, London remains
Europe's most active equity market with more capital raised than
the other European exchanges for high-growth
businesses.
I
am sure that our inventory funders and partners will see this
capital infusion as a positive step forward for SYME, considering
its key role as inventory specialist within the current Inventory
Monetisation programmes and future
opportunities."
Admission of new ordinary shares and Total Voting
Rights
The Admission is expected to occur
at 8.00am on or around 28 May 2024. The Subscription is conditional
on Admission.
Following Admission, the Company's
issued ordinary share capital will comprise 71,732,142,145 ordinary
shares of £0.00002 each (assuming no other warrant conversions take
place between now and 28 May 2024). Accordingly, this number will
represent the total voting rights in the Company, and, following
admission of the Subscription Shares, may be used by shareholders
as the denominator for the calculation by which they can determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules. The new shares will
rank pari passu in all respects with the ordinary shares of the
Company currently traded on London Stock Exchange's main market for
listed securities.
For the purposes of UK MAR, the
person responsible for arranging release of this announcement on
behalf of SYME is Alessandro Zamboni, CEO.
Contact information
Alessandro Zamboni, CEO, Supply@ME
Capital plc, investors@supplymecapital.com
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.