28 March 2024
Supply@ME Capital
plc
(the "Company" or "SYME")
Transfer of
Warrants
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, today announces an update in
relation to the entire holding of 961,832,433 warrants (each
exercisable into one new ordinary share of nominal value £0.00002
each in the capital of the Company) in aggregate (the "Warrants") previously issued to of
Mercator Capital Management Fund LP ("Mercator") pursuant to seven
warrant instruments executed by the Company, cast as deed polls,
between 1 October 2021 and 14 July 2022 (the "Warrant Instruments").
The Company previously announced on
23 November 2023 that the entire holding of 961,832,433 have been
sold and transferred by Mercator to an independent third party
purchaser (the "Current Warrant
Holder"). Today, the Company further announces that the
Current Warrant Holder has sold and transferred (the "Transfer") the entire holding of the
Warrants to two separate third party purchasers (the "Transferees").
A summary of the key terms of the
Warrants are set out in the table below:
|
Date of issue
|
Maturity
date
|
Number of
Warrants
|
Exercise
price
|
|
01/10/2021
|
01/10/2024
|
443,726,031
|
£0.00316
|
|
01/11/2021
|
01/11/2024
|
29,197,856
|
£0.00314
|
|
01/12/2021
|
01/12/2024
|
49,867,625
|
£0.00184
|
|
04/01/2022
|
04/01/2025
|
77,763,767
|
£0.00174
|
|
02/02/2022
|
02/02/2025
|
79,179,799
|
£0.00171
|
|
04/03/2022
|
04/03/2025
|
105,948,198
|
£0.00128
|
|
14/07/2022
|
14/07/2025
|
176,149,157
|
£0.00085
|
|
Total
|
|
961,832,433
|
|
The Company has confirmed that the
Transferees are neither an affiliate of the Current Warrant Holder,
nor a person closely associated of any person discharging
managerial responsibilities of the Company for the purposes of
Regulation 2014/596/EU, which is part of the domestic law of the
United Kingdom of Great Britain and Northern Ireland pursuant to
the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)).
Under the terms of the Warrant
Instruments, the Warrants may only be transferred to affiliates of
the holder of the Warrants from time to time. The Company
authorised the Transfer in accordance with the modification
provisions in the Warrant Instruments on this occasion, but, going
forwards, the terms of the Warrant Instruments shall continue to
preclude transfer to non-affiliates of the holder of the Warrants
without the consent of the Company. The new certificates in respect
of the Warrants will be sent to the Transferee shortly.
Contact information:
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
warehouse goods waiting to be sold to end-customers or
goods/commodities that are part of a typical import/export
transaction.