Supply @ME Capital PLC Repayment of Mercator Facility in Cash (7574D)
October 21 2022 - 9:01AM
UK Regulatory
TIDMSYME
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(c) solutions enabling
their businesses to generate cashflow, announces that it has
exercised the Mercator Repayment Option and paid GBP3,536,553 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.
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END
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