ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

SYME Supply@me Capital Plc

0.0355
0.00025 (0.71%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Supply@me Capital Plc LSE:SYME London Ordinary Share GB00BFMDJC60 ORD 0.002P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00025 0.71% 0.0355 0.033 0.0378 0.037 0.03 0.03 250,105,641 16:35:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Prepackaged Software 767k -9.88M -0.0002 -2.00 24.49M

Supply @ME Capital PLC New Co-Operation Agreement (2071L)

11/01/2021 7:00am

UK Regulatory


Supply@me Capital (LSE:SYME)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Supply@me Capital Charts.

TIDMSYME

RNS Number : 2071L

Supply @ME Capital PLC

11 January 2021

11 January 2021

Supply@ME Capital plc

(The "Company" or "SYME")

UAE updates: Co-operation agreement with Lenovo Financial Services META LLC

Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation(c) service to manufacturing and trading companies, is pleased to announce that it has entered into an agreement with Lenovo Financial Services META LLC ("LFS") [1] .

The SYME Platform will be positioned as an alternative solution to compliment LFS's existing vendor programme offerings to their network of customers in the Middle East, Turkey and Africa region (excluding South Africa) ("META").

The purpose of the co-operation agreement, made with the strategic support of iMASS, is to deliver a dedicated inventory monetisation programme to LFS's customers which may also allow them to evaluate the opportunity to adopt the upcoming Shari'a version of the Platform.

Commenting on the new alliance, Supply@ME Capital plc Chief Executive, Alessandro Zamboni said: "The signing of this agreement is an important milestone in the Company's development within the wider META geography and is further proof of the scalability of SYME's business model; it also re-affirms the importance of the Platform in supporting the working capital needs of Companies and their supply chain partners, helping to optimise days in inventory [2] even given the current unprecedented global economic challenges.

"This agreement moves SYME a step closer towards its goal of becoming a global inventory monetisation provider. Our partner, LFS, is recognised as market leader in its industry and provides expertise across a qualified network in the META region, a strong base to foster our inventory monetisation Platform. We are delighted to be working closely with them".

John Knibbs, Managing Director of LFS, added: "This agreement demonstrates our commitment to providing our customers the widest vendor funding experience possible and we believe that it will allow us to enhance our existing offerings to meet the ever-changing needs of our customers without placing debt on their balance sheet".

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.

[1] https://lenovofinancialservicesmeta.com/.

[2] Also knows as "Days Inventory Held" (or similar definitions), it is a financial ratio that indicates the average time in days that a company takes to turn its inventory, including goods that are a work in progress, into sales.

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

Brian Norris, Cicero/AMO, +44 (0)20 7947 5317

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

AGRFIFVRLRILLIL

(END) Dow Jones Newswires

January 11, 2021 02:00 ET (07:00 GMT)

1 Year Supply@me Capital Chart

1 Year Supply@me Capital Chart

1 Month Supply@me Capital Chart

1 Month Supply@me Capital Chart

Your Recent History

Delayed Upgrade Clock