Supply @ME Capital PLC Temporary Suspension (4349M)
January 21 2021 - 1:32AM
UK Regulatory
TIDMSYME
RNS Number : 4349M
Supply @ME Capital PLC
21 January 2021
21 January 2021
Supply@ME Capital plc
(The "Company" or "SYME")
Temporary suspension while financial statements are
completed
Further to the Company's announcement of 19 January, 2021,
detailing a change to its Accounting Reference Date to 31 December
and a revised financial reporting calendar, SYME is now requesting
a suspension of the listing of its shares pending publication of
its 31 December 2019 year-end Accounts and its 2020 Interim Results
for the six months ended 30 June 2020.
A Standard Listing requires the publication of audited accounts
for contiguous periods for continuity and comparison purposes. The
publication of the 31 December 2019 accounts, which cover a
Statutory accounting period prior to SYME's RTO and Admission to
The Standard List in March 2020, are intended to meet this
requirement. However, in changing the Company's accounting
reference date, SYME is technically in breach of the Disclosure
Guidance and Transparency Rules (DTR) regarding the timing of these
financial statement announcements.
For this reason, the Company is requesting its shares be
temporarily suspended from 7.30am today. The Company will seek a
restoration of its listing immediately following publication of its
audited Accounts for the year ended 31 December 2019 and Interim
Results for the six months ended 30 June 2020, which are both
expected before 31 January 2021.
It should be noted that prior to the shortening of the
accounting reference period announced on 19 January, SYME was not
in breach of either the Companies Act 2006 requirements or the DTR
as to the timing for the filing of accounts and remains in full
compliance with Companies Act 2006 accounts filing
requirements.
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,
investors@supplymecapital.com
Paul Vann, Walbrook PR Limited, +44 (0)20 7933 8780;
paul.vann@walbrookpr.com
Brian Norris, Cicero/AMO, +44 (0)20 7947 5317
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