TIDMSYME
RNS Number : 3500Q
Supply @ME Capital PLC
28 June 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 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 INSIDE INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN
Supply@ME Capital plc
(The "Company" or "SYME")
Strategic Alliance with VeChain Foundation to provide up to
US$10 million of funding for inaugural Inventory Monetisation
transactions
&
Launch of the "Web3" stream.
Supply@ME Capital plc, the fintech business which provides an
innovative Platform for use by manufacturing and trading companies
to access Inventory Monetisation(c) solutions enabling their
businesses to generate cashflow, announces that it has signed a
strategic alliance (the "Agreement") with the VeChain Foundation
[1] ("VeChain"), a blockchain enterprise service provider focused
on supply chain and sustainability, to fund the first inaugural
Inventory Monetisation transaction and kick off the "Web3" [2]
stream.
The objective of the Agreement is to create a sustainable Web3
environment that will allow direct participation in the Inventory
Monetisation journey combining traditional finance with the
blockchain space. According to Messari [3] research, the top 100
digital assets in circulation capitalise over USD 1.2 trillion, of
which approximately 60% are currencies, like Bitcoin, and
stablecoins, like Tether.
The Agreement has two phases, both in terms of investment
opportunities and technology development.
In Phase One, a proof-of-concept real transaction will be
executed by end of July, involving a client company already
selected by SYME from its existing Italian portfolio, with the
VeChain Foundation serving as provider of its VeChainThor
blockchain and NFT investor.
Following the successful completion of the first transaction and
an assessment of the innovative process designed to link digital
assets to the real economy, Phase Two will build up an "Inventory
Monetisation Platform 3.0" with an expected roadmap of Web3
features, including the issuance of Non Fungible Tokens ("NFT"),
digital ownership and B2B marketplaces, decentralised finance
(DEFI) and, overall, a governance protocol. For this phase, to be
completed by end of December 2022, it's expected the Inventory
Monetisation transactions will be also funded by further multiple
liquidity providers (crypto asset managers and direct investors
through liquidity pools partnerships).
The commitment budgeted by VeChain within the Agreement to
directly subscribe the Inventory (NFT-based) Monetisation
Transactions is up to USD $10m, of which approx. USD $1.5m
immediately releasable to fund the available eligible inventory of
the first Italian client selected and the rest, during the Phase
Two, for one or more further client companies, also including the
current UK portfolio.
Alessandro Zamboni, CEO of Supply@ME, said: "We are delighted to
have reached this important milestone, eagerly anticipated by
ourselves and our shareholders, to secure the first inventory
monetisation transaction. Given the innovative nature of our
product offering, the digital asset world is an ideal provider of
funding for our unique asset class. Notwithstanding the recent
turbulence in the crypto market, the digital economy will play a
crucial role in supporting pioneering businesses like
Supply@ME."
"As Supply@ME continues to scale, we are mindful of the evolving
nature of the commercial and international trade, whereby digital
assets are becoming increasingly popular among investors and have
the potential to revolutionise the traditional financial services
industry. They can also support and educate it for the future,
boosting confidence in investing in new structures such as our
Inventory Monetisation transactions. By embarking upon this
alliance with the highly respected VeChain, an organisation that is
unique in the sustainability and supply chain sector, we are
working to ensure the business is future-proof and highly scalable.
In parallel, we continue to progress our own traditional funding
routes which remains strategic for our business model".
Sunny Lu, CEO of the VeChain Foundation, added: "We're always
looking to join hands with innovative companies pushing the fore of
digital technology. VeChain has demonstrated its ability to dream
up, and subsequently deploy, new ideas and ecosystems that harness
the revolutionary power of blockchain. We recognised the same
potential in Supply@ME and their novel tradFi-Defi inventory
management service. We look forward to working with them to
co-develop these new systems and provide businesses with an
entirely new method of raising value from Inventory
Monetisation".
Notes
Supply@ME Capital PLC and its operating subsidiaries (together
the "Group") provide an innovative fintech platform (the
"Platform") for use by manufacturing and trading companies to
access inventory trade solutions enabling their businesses to
generate cashflow, via a non-credit approach and without incurring
debt. This is achieved by their existing eligible inventory being
added to the Platform and then monetised via purchase by third
party Inventory Funders. The inventory to be monetised can include
warehouse goods waiting to be sold to end-customers or goods/
commodities that are part of a typical import/ export transaction.
SYME announced in August 2021 the launch of a global Inventory
Monetisation programme which will be focused on both inventory in
transit monetisation and warehoused goods monetisation. This
programme will be focused on creditworthy companies and not those
in distress or otherwise seeking to monetise illiquid
inventories.
Contacts
Alessandro Zamboni, CEO, Supply@ME Capital plc,
investors@supplymecapital.com
Paul Vann, Walbrook PR Limited, +44 (0)20 7933 8780;
paul.vann@walbrookpr.com
Chanice Smith, Cicero/AMO, +44 (0)207 947 5328,
chanice.smith@cicero-group.com
[1] https://www.vechain.org/
[2] According to Messari report "Crypto theses 2022", crypto, or
the recently en vogue "Web3", is an unstoppable force in the
long-term. Web3 is an all-encompassing term that captures
cryptocurrencies (digital gold & stablecoins), smart contract
computing (Layer 1-2 platforms), decentralized hardware
infrastructure (video, storage, sensors, etc), Non-Fungible Tokens
(digital ID & property rights), DeFi (financial services to
swap and collateralize web3 assets), the Metaverse (the digital
commons built in game-like environments), and community governance
(DAOs, or decentralized autonomous organizations).
[3] https://messari.io/
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