Business
Issue of £5.6million Convertible Loan Notes
Issue of £5.6million Convertible Loan Notes.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1412C\n Supply @ME Capital PLC \n 16 June 2021\n \n \n \n \n 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 AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN. \n \n \n \n \n \n 16 June 2021\n \n \n \n \n \n Supply@ME Capital plc\n \n \n (The \"Company\" or \"SYME\")\n \n \n Issue of £5.6m Convertible Loan Notes\n \n \n to support SYME's continued development\n \n \n \n \n \n Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation© service to manufacturing and trading companies, is pleased to announce that it has entered into a subscription agreement (\"Subscription Agreement\") with Negma Group Ltd[1](\"Negma\") for the issue of an initial tranche of £5,600,000 of Convertible Loan Notes (\"Convertible Loan Notes\"). The Subscription Agreement allows for a further nine tranches to be issued at the same par value exclusively at the option of the Company.\n \n \n The Company has issued a drawdown notice to Negma in relation to the first tranche of Convertible Loan Notes at an aggregate £5,600,000 in par value. Negma is to subscribe at a subscription price of £50,000 per Convertible Loan Note for an aggregate total of £5,000,000.\n \n \n Negma Group is an alternative investment fund providing small and mid-cap companies with funding required to support their growth. With its debt and equity financing solutions, the firm presents impactful and sustainable opportunities to listed SMEs and largecaps globally. As of June 2021, Negma's closed-end fund has invested over one billion Euros.\n \n \n The net proceeds of the issue of the Convertible Loan Notes will provide funding for the Company to:\n \n \n · \n support the completion of the acquisition of TradeFlow Capital Management Pte. Ltd. (\"TradeFlow\");\n \n \n · \n meet the working capital requirements of the Company and support new potential strategic projects; in this regard:\n \n \n o \n its intention of the Company to start a feasibility study with reference a potential dual listing of SYME's shares on NASDAQ and/or other tr...