Supply @ME Capital PLC Acquisition Update (8552V)
April 19 2021 - 1:00AM
UK Regulatory
TIDMSYME
RNS Number : 8552V
Supply @ME Capital PLC
19 April 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 (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 April 2021
Supply@ME Capital plc
(The "Company" or "SYME")
TradeFlow Capital Management ("TradeFlow"): Acquisition
Update
Further to the announcement made by the Company on 17 March 2021
that it had signed Heads of Terms for the potential acquisition of
TradeFlow Capital Management Pte. Ltd., the leading Singapore-based
FinTech-powered commodities trade enabler focused on SMEs, SYME is
pleased to provide the following update.
The due diligence process continues to progress well, as does
the integration plan for the Supply@ME and TradeFlow inventory
funding business models. The Company's and its advisors' review of
the cross-border aspects of TradeFlow's business, its funding
structures and inventory "in-transit" technology are underway.
The terms of the transaction and its financing are being
structured so as to maximise existing shareholders' value.
SYME and TradeFlow are keen to complete the acquisition as soon
as practicable. A further announcement will be made in due
course.
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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END
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