Business
Issue of Equity & Total Voting Rights
Issue of Equity & Total Voting Rights.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \n \n 5 September 2022\n \n \n Supply@ME Capital plc\n \n \n (the \"Company\" or \"SYME\")\n \n \n Capital Enhancement Plan deployment\n \n \n \n \n \n Equity issuance under Venus Facility and total voting rights\n \n \n \n \n \n Supply@ME Capital plc, the fintech business which provides an innovative fintech platform (\"Platform\") for use by manufacturing and trading companies to access Inventory Monetisation© solutions enabling their businesses to generate cashflow, announces that it is to issue the fifth mandatory tranche (\"Fifth Tranche\") of new ordinary shares of nominal value £0.00002 each in the capital of the Company (\"Ordinary Shares\") to Venus Capital S.A. (\"Venus Capital\"), under the key terms of the equity funding facility announced in the RNS of 27 April 2022 (\"Venus Facility\"). The Venus Facility with Venus Capital forms\n an integral part of the Company's Capital Enhancement Plan, also announced in the RNS of 27 April 2022.\n \n \n It should be noted that Venus was not required to subscribe for the fourth mandatory tranche under the terms of the Venus Facility, as the Company's open offer was fully subscribed for by qualifying shareholders, as announced in the RNS of 18 August 2022.\n \n \n The Fifth Tranche, comprising 950,000,000 new Ordinary Shares (the \"Fifth Tranche Shares\"), will be issued at a price of 0.05 pence per share, raising gross proceeds for the Company of £475,000.\n \n \n The Company will also issue to Venus Capital:\n \n \n ·\n 1 warrant for every 2 Fifth Tranche Shares. Such warrants each have an exercise price of 0.065 pence and are exercisable at any time up to 31 December 2025; and\n \n \n ·\n £47,500 in principal value of unsecured loan notes in order to settle the fees due to Venus Capital in respect of the Fifth Tranche.\n Such unsecured loan notes are convertible into new Ordinary Shares with a maturity date of 31 December 2025 at an interest rate of 10% per annum.\n \n \n The Company has made applications to the Financial Conduct Authority (the \"FCA\") and London Stock Exchange plc (the \"LSE\") to have the Fifth Tranche Shares admitted to listing on the standard segment of the Official List of the FCA and to trading on the main market for listed securities of the LSE, respectively, with admission expected to occur on or around 6 September 2022 (\"Admissi...