Supply @ME Capital PLC Issue of Equity; CLN Restructuring; Notice of TU (7671G)
July 28 2021 - 5:01AM
UK Regulatory
TIDMSYME
RNS Number : 7671G
Supply @ME Capital PLC
28 July 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.
28 July 2021
Supply@ME Capital plc
(The "Company" or "SYME")
Convertible Loan Notes Programme restructuring and New Ordinary
Shares issuance
Supply@ME Capital plc, the innovative fintech platform which
provides the Inventory Monetisation(c) service to manufacturing and
trading companies, is pleased to announce the following updates
regarding the current Subscription Agreement signed with Negma
Group Ltd ("Negma Group") as per the RNS of 16 June 2021:
- the Company has made an application to the London Stock
Exchange for admission to listing of 315,000,000 New Ordinary
Shares as a result of the conversion of a further approximately 18%
at the price of GBP 0,0032 of the par value of the Convertible Loan
Notes issued and subscribed by Negma Group. The remaining
outstanding par value of the notes not yet converted is equal to
GBP4,032,000; Negma Group is not authorised to perform
short-selling activities.
- SYME and Negma Group are in discussions to restructure the
Convertible Loan Notes Programme with the aim of maximising
investment value for SYME' shareholders. It is therefore the
intention of the Parties to replace the current agreement with a
new facility:
- envisaging a material reduction of the commitment. In this
regard, the Company intends to reset the current Principal Amount
of the Convertible Loan Notes of GBP56m and get additional capital,
step by step, through the new mechanism described below;
- enabling SYME to have full control over the number of shares
potentially to be issued in relation to business developments,
including control over the level of dilution and, accordingly,
mitigating any further dilutive risk.
SYME is also in discussions with new investors/ lenders for the
provision of amortised loan facilities, taking into account its
business plan goals and related projected Group cash flow.
Following the 2020 AGM scheduled for 30 July 2021 and in advance
of the publication of the 2021 interim financial statements, The
Company intends to issue a Half-Year Trading Update to 30 June 2021
which will include the recent trading performance of the TradeFlow
business.
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
brian.norris@cicero-group.com
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END
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