TIDMSYME
RNS Number : 1132X
Supply @ME Capital PLC
31 December 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 AMED. ON PUBLICATION OF THIS ANNOUNCEMENT
VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
31 December 2021
Supply@ME Capital plc
(The "Company" or "SYME")
Trading Update
Supply@ME Capital plc, the innovative fintech platform (the
"Platform") which provides the Inventory Monetisation(c) service to
manufacturing and trading companies, today announces the following
trading update covering the period from 1 July to 31 December
2021.
Summary
Progress has been made on a number of fronts. The Company is
working to complete the signing of a binding agreement with a first
Inventory Funder for the inaugural Italian inventory monetisation
transaction. The process is progressing well and the Parties are
finalising the arrangements.
In parallel, further inventory funding arrangements are expected
by SYME in the other geographies it serves. The Company will update
the market when contracts are signed and disclosable pursuant to
the confidentiality agreements.
Interest from potential corporates remains strong in all SYME's
target geographies. The Company continues to enhance its
origination agreements, building a wide ecosystem of partners and
introducers.
TradeFlow Capital Management Ltd. Pte ("TradeFlow") has focussed
on three key areas of activity: fund management, fintech software
as a service (SaaS) development and Strategic Joint Venture
developments in technology and fund management to enable faster
global growth. In respect of the fund management business, its
relationship with the International Chamber of Commerce (ICC)
continues to materially progress with a view to having
infrastructure in place to launch an ICC endorsed fund to support
SME trade in 2022.
The revenues recognised from these initiatives in 2021 are
expected to be in line with the guidance provided in the RNS of 11
November 2021.
The Company expects to announce its new strategic growth plan
together with its Annual Results for the year ending 31 December
2021 by the end of April 2022.
Trading update for the six months ended 31 December 2021
SYME's revenue streams are outlined below as per the definitions
introduced in the RNS of 31 August 2021.
Revenue stream #1: "Captive" inventory monetisation platform
servicing ("C.IM")
Italy
In Italy, as outlined in the RNS of 11 November 2021, SYME
expects to complete the first inventory monetisation covered by the
Italian Government's SACE guarantee "Garanzia Italia" (now expected
to be extended until the end of June 2022), following the signing
of a binding agreement with the Fintech Bank funder, announced in
the RNS of 29 June 2021. This binding agreement is close to being
signed. The parties are currently negotiating new key terms aimed
at revising the purpose of the alliance to become more focussed on
a commercial path, which would not require the acquisition by SYME
of the 10% stake in the Fintech Bank.
The Company is also in discussions with a number of other
Italian banks for the completion of further inventory monetisation
transactions during 2022. SYME is also working closely with SACE,
in order to study a new bespoke guarantee which would commence
following the expiry of the current "Garanzia Italia" SACE
guarantee scheme referred to above.
SYME also confirms that the Captive Bank project, a
strategically important initiative for the Group, remains
ongoing.
UK
The increased marketing efforts which the Company has undertaken
in the UK have generated significant awareness among potential
client companies and Inventory Funders. The Company is currently in
discussion with more than ten potential investors and asset-based
lenders interested in arranging and funding UK inventory
monetisation transactions.
The Company expects to include a comprehensive and dedicated
update on activity in the UK market within its 2021 Annual Results
Announcement.
MENA
As announced in the of RNS of 23 November 2021, SYME has been
working alongside the Shariah fund arranger Intesa Sanpaolo Private
Bank (Suisse) Morval SA ("ISPB Morval") to provide funding for the
Company's Shariah-compliant Inventory Monetisation platform in the
Middle East. In parallel, the Company is working with iMass
Investment in order to study further inventory funding alliances in
the region and plan a first inventory monetisation transaction
during 2022.
United States
The Company continues to explore potential NASDAQ project routes
with ARC Group [1] .
Mr Anthony Brown, acting as strategic advisor to the Company
regarding the US market, is evaluating potential inventory funding
alliances, building upon the positive feedback received following
participation in an event organised by Global Trade Review on 8
December 2021 in New York.
Revenue stream #2: "White Label" inventory monetisation platform
servicing ("WL.IM")
The Company is in advanced discussions with an Italian bank to
sign a binding agreement and begin providing access to the
Platform. The company expects this agreement will be revenue
generating in 2022.
Revenue stream #3: Investment Advisory ("IA")
TradeFlow
SYME completed the acquisition of TradeFlow in July 2021,
detailed in the RNS of 6 July 2021.
TradeFlow's work in the period from acquisition to 31 December
2021 has been focussed on three key areas of activity; fund
management, fintech software as a service (SaaS) development and
Strategic Joint Venture developments in technology and fund
management to enable faster global growth. In respect of the fund
management business, its relationship with the International
Chamber of Commerce (ICC) continues to materially progress with a
view to having infrastructure in place to launch an ICC endorsed
fund to support SME trade in 2022. In the last month, additional
Fund distribution partnerships were also agreed, expanding the
marketing reach for all of the funds that TradeFlow manages,
forming part of the Global Inventory Monetisation programme.
The existing Trade Flow Funds for in-transit cargo transactions
are on track to make above target returns for its investors of
approximately +6% per annum (net) on the USD Fund and +5% per annum
(net) on the EURO Fund. Further to the RNS of 9 August 2021, the
USD Trade Flow Fund S.P. issued its first "BBB" Investment grade
rated notes via EUROCLEAR and TradeFlow continues to explore the
development of other investment products for investors linked to
the established TradeFlow Funds and the new broader Global
Inventory Monetisation programme.
Finally, TradeFlow was granted Registered Fund Manager Company
(RFMC) status by the Monetary Authority of Singapore (MAS) in
November 2021 and was granted Membership of BAFT (The Bankers
Association for Finance and Trade) as a recognised supplier of
trade finance technology services to Banks. TradeFlow, in
partnership with the Singapore Institute of Technology, signed a
Research project contract to develop an A.I. system for enhanced
predictive analytics around logistics and shipping, due to commence
during the first quarter of 2022.
Alessandro Zamboni, Chief Executive of Supply@ME Capital plc ,
commented: "2021 has been a transformational year. The Group has
made tremendous progress since December last year and we should be
proud of what we have created. Supply@ME is a unique equity story
which is attracting a lot of interest from investors, lenders and
strategic partners across the globe. The standard setters and
regulators are working as well to support the alternative capital
market industry and the Company will benefit from that in 2022. Now
that market conditions seem more settled, we expect an acceleration
of revenue, aimed at rewarding the commitment and trust of all our
shareholders and key stakeholders."
Forward looking statements and other important information
This announcement contains forward looking statements, which are
statements that are not historical facts and that reflect SYME's
beliefs and expectations with respect to future events and
financial and operational performance as at the date hereof. These
forward looking statements involve known and unknown risks,
uncertainties, assumptions, estimates and other factors, which may
be beyond the control of SYME and which may cause actual results or
performance to differ materially from those expressed or implied
from such forward-looking statements. Nothing contained within this
announcement is or should be relied upon as a warranty, promise or
representation, express or implied, as to the future performance of
SYME or its business. Any historical information contained in this
statistical information is not indicative of future
performance.
The information contained in this announcement is provided as of
the dates shown.
Nothing in this announcement should be construed as:
-- legal, tax, investment, financial, or accounting advice, or
solicitation for or an offer to invest in SYME;
-- a profit forecast or profit estimate and no statement in this
announcement should be interpreted to mean that the future earnings
per share of the Company for current or future financial years will
necessarily match or exceed the historical or published earnings
per share of the Company.
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 programme which will be focused on both
inventory in transit monetisation and warehouse goods monetisation.
This programme 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
[1] https://arc-group.com/.
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END
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