Supply @ME Capital PLC New Investment in SYME (8006J)
December 24 2020 - 2:00AM
UK Regulatory
TIDMSYME
RNS Number : 8006J
Supply @ME Capital PLC
24 December 2020
24 December 2020
Supply@ME Capital plc
(The "Company" or "SYME")
New Investment in SYME
Supply@ME Capital plc, the innovative fintech platform which
provides the Inventory Monetisation(c) service to manufacturing and
trading companies, is pleased to provide the following update
regarding its expanding shareholder base.
Five professional investors (the "New Investors") have,
acquired, in aggregate a 12.2% shareholding in the Company, further
diversifying and strengthening the Company's investor base. Their
combined shareholdings, comprising 4 billion ordinary shares, were
acquired following completion of the transactions detailed below,
which are aimed at simplifying the Company's ownership structure
going forward:
-- the purchase by 1AF2 S.r.l of 4.2bn SYME ordinary shares from IWEP Ltd at 0.0048 GBP;
-- a merger between 1AF2 S.r.l. and the AvantGarde Group S.p.A..
The merged company will be named "the AvantGarde Group";
-- the disposal of all of Orchestra Group's SYME ordinary shares
to the newly formed AvantGarde Group; and
-- the sale of 4.0bn SYME ordinary shares by the AvantGarde
Group to the New Investors at 0.0048 GBP based on the performance
of the Company.
Following completion of the transactions, the shareholdings of
each of the three parties will be as follows:
-- the AvantGarde Group SpA (post-merger*) 38,9%
-- The New Investors** 12.2%
-- IWEP Ltd*** <3%
The AvantGarde Group and the New Investors may, in due course,
propose a new director to the Company to add to the experience of
the existing board. The New Investors may also purchase further
shares directly through the market.
Welcoming the New Shareholders, Alessandro Zamboni, CEO of SYME,
commented:
"These transactions have enabled us to increase the diversity
and number of committed, professional investors on the Company's
Share Register and will undoubtedly help to raise our investment
profile".
*Mr. Zamboni will be the beneficial owner of the AvantGarde
Group, post-merger. The percentage stated does not include the
17.99% of SYME shares related to the collateral transferred in
accordance with the three stock-lending transactions announced on
29 July 2020. At the end of this stock-lending transaction or on
the repayment date (in July 2022), the collateral will be returned
to the Group in shares or cash, at the choice of the borrower
** New Investors' combined holdings (five independent
investors)
*** IWEP Ltd is a company controlled by Non-Executive Chairman
Dominic White. Following the transaction and a reorganisation of
his holdings, Mr White will hold less than 3% of the ordinary
shares of the Company
Contacts
Alessandro Zamboni, CEO, Supply@ME Capital plc
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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