24th Dec 2020 10:30
(Alliance News) - Supply@ME Capital PLC on Thursday said five professional investors have acquired in total a 12% shareholding in the company, diversifying its investor base.
The London-based fintech firm provides an inventory monetisation platform.
The new investors, who weren't named, purchased the 4 billion Supply@ME shares at GBP0.0048 each, worth GBP19.2 million. The stock was trading 1.6% lower in London at 0.54 pence a share on Thursday, giving the company a market capitalisation of GBP169.0 million.
The shares were purchased from AvantGarde Group Spa, which is owned by Supply@ME Chief Executive Officer Alessandro Zamboni. Prior to the sale, 1AF2 Srl had bought 4.2 billion Supply@ME shares from IWEP Ltd, which is controlled by Non-Executive Chair Dominic White.
1AF then merged with AvantGarde, and another shareholder, Orchestra Group, also is owned by Zamboni, sold all of its Supply@ME shares to Zamboni's newly merged AvantGarde Group.
The intention of the transactions was to simplify Supply@ME's ownership structure, the company said.
"These transactions have enabled us to increase the diversity and number of committed, professional investors on the company's share register and will undoubtedly help to raise our investment profile," Zamboni said.
Zamboni's AvantGarde now holds a 38.9% stake in Supply@ME. The five new shareholders hold 12.2%. White's IWEP holds less than 3%.
By Evelina Grecenko; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Supply@me Cap