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.
22 March 2024
Supply@ME Capital
plc
(The
"Company" or "SYME")
PDMR/PCA shareholding: stock
loans update
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, provides the following update
regarding the stock loans entered into by the AvantGarde Group SpA
("TAG") (an entity ultimately beneficially wholly-owned and controlled
by Alessandro Zamboni, Chief Executive Officer of the
Company).
As detailed in the Company's
previous announcements of 29 July 2020 and 17 August 2022 (the
"Stock Loans RNS's"), SYME
was notified by 1AF2 Srl (now called TAG) that it transferred a
number of SYME shares as loan security to three lending platforms
("Lenders") and that the
loans with each of these Lenders had the following maturity
dates:
·
High West Capital Partners LLC (1,615,253,000 SYME
shares transferred): 2 June 2023 (the "HWCP Loan");
·
Stock Loan Solutions LLC (778,571,429 SYME shares
transferred): 24 July 2023 (the "SLS Loan"); and
·
Union Pacific Capital Ltd (3,500,000,000 SYME
shares transferred): 9 June 2027.
With regards to the HWCP Loan and
the SLS Loan, TAG has updated the Company that it has applied the
loan repayment procedures set out in the contracts with the
respective Lenders. TAG has also informed the Company that it has
not yet received the required engagement from the Lenders of the
HWCP Loan or the SLS Loan. As a result TAG is currently pursuing
legal options to allow for the required loan repayments to be made by them and for the SYME
shares that were transferred as loan security for the HWCP Loan and
the SLS Loan to be transferred back to TAG.
For the purposes of UK MAR, the
person responsible for arranging release of this announcement on
behalf of SYME is Alessandro Zamboni, CEO.
Contacts
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.