Repayment of Mercator Facility in Cash

RNS Number : 7574D
Supply @ME Capital PLC
21 October 2022
 

21 October 2022

Supply@ME Capital plc

(the "Company or "SYME")

Exercise of Mercator Repayment Option and repayment in cash of all outstanding amounts payable to Mercator

 

Words and expressions used but not defined in this announcement shall have the meanings given to them in the Company's prospectus published on 3 October 2022 (the "Prospectus"), which is available at: https://www.supplymecapital.com/wp-content/uploads/2022/10/SYME-Prospectus-Clean91.pdf .

SYME, the fintech business which provides an innovative fintech platform ("Platform") for use by manufacturing and trading companies to access Inventory Monetisation© solutions enabling their businesses to generate cashflow, announces that it has exercised the Mercator Repayment Option and paid £3,536,553 in cash in immediately available funds to Mercator in full and final settlement of all outstanding amounts payable under the Mercator Loan Notes and the Mercator CLNs (including incurred fees) utilising the Venus Amount.  Accordingly, the Company will not be required to issue any additional Mercator Conversion Shares to Mercator.

 

Contact information

Alessandro Zamboni, CEO, Supply@ME Capital plc, investors@supplymecapital.com  

Paul Vann, Walbrook PR Limited, +44 (0)20 7933 8780, paul.vann@walbrookpr.com  

Media

Nicola Louis, MHP,Nicola.Louis@mhpc.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 warehouse goods waiting to be sold to end-customers or goods/commodities that are part of a typical import/export transaction. SYME announced in August 2021 the launch of a global Inventory Monetisation programme which will be focused on both inventory in transit monetisation and warehoused goods monetisation. This programme will be focused on creditworthy companies and not those in distress or otherwise seeking to monetise illiquid inventories.

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
 
 
MSCBDBDGXUDDGDB
UK 100

Latest directors dealings