Business
Tradeflow and DP World complete first transaction
Tradeflow and DP World complete first transaction.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n 23 June 2022\n \n \n \n \n \n Supply@ME Capital plc\n \n \n (The \"Company\" or \"SYME\")\n \n \n TradeFlow completes first transaction introduced by CARGOES Finance By DP World\n \n \n Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation© service to manufacturing and trading companies, announces that TradeFlow Capital Management Pte Ltd (\"TradeFlow\"), part of the Supply@Me Group, has completed the first warehoused commodities monetisation transaction introduced by CARGOES Finance By DP World. The completion of the first transaction follows the partnership agreement the parties signed earlier this year (\"the partnership\"), announced in the RNS of 18 February 2022.\n \n \n TradeFlow Funds have monetised the inventory of a small to medium-sized enterprise (SME) coffee company based in the United Arab Emirates (UAE), via the Dubai Multi Commodity Centre (DMCC) Electronic Warrants (\"E-Warrants\") platform. TradeFlow is a shariah-compliant, Murabaha transaction member of the DMCC E-Warrant platform.\n \n \n Under the terms of the transaction, the USD TradeFlow Fund SP received the authenticated warehouse E-Warrants for the coffee inventory digitally. In total, TradeFlow received 66 E-Warrants via the DMCC platform, representing coffee stored in the DMCC Coffee Centre warehouse located in the Jebel Ali Freezone.\n \n \n Transactions completed under the partnership with CARGOES Finance By DP World will contribute to the Supply@Me Group's Investment Advisory revenue stream.\n The Company has issued an RNS Reach announcement on this occasion to confirm the completion of the first transaction under the partnership. As the Board expects the first transaction under the partnership to pave the way for a significant number of transactions in the future, the Company will inform the market of any future transactions under the partnership only if they stand to significantly impact SYME's financial performance. Any such information will be distributed via the London Stock Exchange's Regulatory News Service.\n \n \n CARGOES Finance By DP World is a trade finance fintech platform which enables access to working capital for enterprises, specifically SMEs, by connecting them with premier financial institutions worldwide. It was launched ...