The Supply@Me Capital PLC (LON: SYME) share price rallied 15.4% after announcing that it had secured a binding commitment from an institutional investor regarding the first-ever UK Inventory Monetisation (IM) transaction.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
The institutional investor has committed to investing a substantial amount with the UK company that will be formed to manage SYME’s IM transactions known as the UK StockCo, which will then use the money to monetise IM transactions from a UK client company worth £1.8 million.
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The UK client company supplies parts and technology to the global marine industry. It will monetise its warehoused goods after signing definitive commercial agreements with the UK StockCo for the transaction to proceed.
SYME also noted that following its first IM transaction in Itlay using traditional funding sources on 5 May 2023, it expected to get more investor interest in its products and service as it seeks to monetise IM transactions worth up to €5 million.
The institutional investor has committed to a representative person of the UK StockCo company, which is set to be created, providing a significant boost to SYME’s ambition to monetise goods worth up to €5m via partnerships with European investors.
SYME expects to sign all the definitive agreements between the UK StockCo firm and the client company by 30 June 2023. The inventory monetisation company will provide an update on the deal once the agreements have been signed.
Alessandro Zamboni, SYME’s CEO, said: “Our first IM transaction using traditional funding in the UK represents another key milestone, following the first IM using traditional funding in Italy. Momentum is building, and our pipeline is strong and growing every day as we continue to build our traditional and non-traditional funding routes. There are further milestones to reach to activate all of our initial funding routes; however, we now have a clear base in both core markets from which we are pursuing new and existing opportunities.”
*This is not investment advice.
SYME share price.
The SYME share price rallied 15.38% to trade at 0.15p, from Thursday’s closing price of 0.13p.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.