Business
Inaugural IM transaction executed
Inaugural IM transaction executed.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \n \n \n THIS 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 \n \n \n \n \n \n \n \n 12 September 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n Supply@ME Capital plc\n \n \n \n (the \"Company\" or \"SYME\")\n \n \n \n Inaugural Inventory Monetisation© transaction executed\n \n \n \n \n \n \n \n \n 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, is pleased to announce the execution of its first IM transaction.\n \n \n This announcement follows recent Company updates, including the RNS of 28 June 2022, when SYME disclosed the strategic alliance (the \"Agreement\") entered into with VeChain Foundation[1] (\"VeChain\"), which is aimed at launching the Web3[2] stream with the intention of funding up to USD $10m of IM transactions, leveraging the minting of dedicated Non-Fungible Tokens (\"NFT\") to be directly subscribed for by VeChain.\n \n \n The counterparty to SYME's inaugural IM transaction is a well-established business with significant market presence in Europe (mainly in Italy), Africa and the United States (the \"Client Company\"). The Client Company is involved in the design and manufacture of industrial and specialised vehicles as well as electronic systems, electrical wiring, and other components[3].\n \n \n The IM transaction has been structured as follows:\n \n \n ·\n the Stock (trading) Company (\"StockCo\"), an overview of which was given in the SYME Business Model Canvas in the Company's Annual Report and Accounts for the year ended 31 December 2021, entered into the commercial contractual package, with a duration of three years, with the Client Company to execute the IM transaction. The total value of the initial warehoused goods to be monetised is approximately €1.6m;\n \n \n ·\n with reference to the fully owned SYME subsidiaries:\n \n \n o \n Supply@ME S.r.l. (\"Supply...