Business
Funding and Business update
Funding and Business update.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n5 December 2023\nSupply@ME Capital plc\n(the \"Company\", \"Supply@ME\" or \"SYME\" and, together with its subsidiaries, the \"Group\")\n \nFunding and Business update\nSYME, 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, provides the following funding and business update.\nSummary\n· As at the date of this announcement, the Group received £1,395,184 from The AvantGarde Group S.p.A. (an entity ultimately beneficially wholly-owned and controlled by Alessandro Zamboni, Chief Executive Officer of the Company) (\"TAG\") as a result of the contractual payments under the Debt Novation Deed, the TAG Unsecured Working Capital Loan Agreement and the Top-Up Shareholder Loan Agreement. An additional amount of £1,505,646 currently remains outstanding and, accordingly, has not been received by the Company.\n \n· The Group has made significant progress in the formalisation of the first White-Label IM agreement (which remains subject to contract) with a leading Italian banking group to execute an initial IM transaction with an inventory value to be monetised of up to €10m. The Group expects to be able to provide a further update on this agreement imminently. Additionally, the Group is actively working to finalise the structuring of a security token framework with the CH Trading Hub[1] which will allow a first security token issuance up to US$100m to be subscribed in tranches, mostly by institutional investors active in the digital asset markets.\nFurther details of each of these are set out below.\nFunding update\nDebt Novation Deed\nOn 30 June 2023, the Company stated, as part of the restructuring of TradeFlow Capital Management Pte. Limited (\"TradeFlow\"), that it had entered into an English law governed debt novation deed be...