Inventory “in transit” monetisation: transaction update
The Company announced on 17 March 2021 that it had signed Heads of Terms (“HoTs”) for the acquisition of a leading, Singapore-based FinTech-powered commodities trade enabler, focused on SMEs.
Following subsequent market speculation regarding the identity of the target business, SYME is pleased to confirm that HoTs have been signed with TradeFlow Capital Management Pte. Ltd.[1] (“TradeFlow”).
SYME expects to announce a further update within the next month.
Notes
Supply@ME enables businesses to generate cashflow, without incurring debt, by monetising their existing stock. Before a business has found an end-customer for its inventory, the Supply@ME platform enables them to sell (“monetise”) their stock and receive cash immediately to boost their working capital. The Supply@ME service enables strong companies to improve their working capital cycle. SYME does not monetise inventory for companies in financial difficulty or with inventory that they are struggling to sell.
Contacts
Alessandro Zamboni, CEO, Supply@ME Capital plc, [email protected]
