PDMR/PCA shareholding: stock loans update

Supply@ME Capital PLC
22 March 2024
 

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

A logo with a green and blue hexagon Description automatically generated

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings