Supply @ME Capital PLC Partial Conversion of Convertible Loan Notes (6083S)
November 17 2021 - 2:00AM
UK Regulatory
TIDMSYME
RNS Number : 6083S
Supply @ME Capital PLC
17 November 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.
17 November 2021
Supply@ME Capital plc
(The "Company" or "SYME")
Partial Conversion of Convertible Loan Notes
Supply@ME Capital plc, the innovative fintech platform (the
"Platform") which provides the Inventory Monetisation(c) service to
manufacturing and trading companies, announces that it has received
a conversion notice from Mercator Capital Management Fund LP
("Mercator") in respect of GBP158,333.34 in principal amount of the
Convertible Loan Notes issued by the Company on 1 November 2021, in
lieu of a cash repayment, in accordance with the terms of the Loan
Note Facility announced in the RNS of 29 September 2021.
SYME issued Convertible Loan Notes with a total principal value
of GBP458,333.34 on 1 November 2021, at its discretion, in order to
support the working capital needs of the Company and its operating
subsidiaries (the "Group"), in particular the delivery of the first
inventory monetisation transaction and to fund further developments
of the Platform to underpin the Group's White-Label product
offering.
Following receipt of the conversion notice, GBP158,333.34 of the
Convertible Loan Notes are to be converted into 77,614,382 Ordinary
shares (the "Conversion Shares") at a conversion price of
GBP0.00204. This represents 0.2% of the Company's issued share
capital prior to the issue of the Conversion Shares. Following the
conversion, GBP300,000 of the Convertible Loan Notes remain
outstanding. In addition, as announced in the RNS dated 29
September 2021, warrants to Mercator have been issued for 20% of
the total principal value of the Convertible Loan Notes of
GBP458,333.34 .
Application has be made to the Financial Conduct Authority and
to the London Stock Exchange for admission of the Conversion Shares
to the standard segment of the Official List and to trading on the
London Stock Exchange's main market for listed securities,
respectively ("Admission"). It is expected that Admission will
occur at 8.00 a.m. on or around 18 November 2021. The Conversion
Shares will rank pari passu with the existing issued Ordinary
Shares in the Company.
Following admission of the Conversion Shares, the Company's
enlarged issued share capital will comprise 35,465,264,854 Ordinary
Shares.
Notes
Supply@ME Capital PLC and its operating subsidiaries (together
the "Group") provide an innovative fintech platform (the
"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 program which will be focused on both
inventory in transit monetisation and warehouse goods monetisation.
This program will be focused on creditworthy companies and not
those in distress or otherwise seeking to monetise illiquid
inventories.
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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