10th Feb 2025 16:15
Supply@Me Capital PLC - London-based inventory monetisation platform - Updates regarding its current funding position, in particular with reference to the ongoing financing by The AvantGarde Group SpA, owned and controlled by Supply@Me Chief Executive Alessandro Zamboni. In 2023, Supply@Me entered a top-up unsecured shareholder loan agreement with TAG, under which TAG agreed to provide a shareholder loan facility of up to GBP3.5 million to December 2025. To date, Supply@Me has issued draw down notices of just over GBP2.0 million but, to date, has not received the amounts from TAG, meaning the full amount remains due. TAG has advised the company it is scheduled to meet with its external advisors and courts to confirm that the outstanding contractual funding commitments can be met. As a result, and given the cash flow pressure the group is currently experiencing, the board is actively exploring alternative funding options. Read More
