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SYME signs acquisition agreement for TradeFlow Capital Management

Wed, 26th May 2021

Supply @ME Capital (SYME has signed a Share Purchase Agreement to acquire the entire share capital of TradeFlow Capital Management. The acquisition will enable SYME to further enhance its Platform, delivering a global inventory monetisation service, including the monetisation of both inventory "in-transit" (in particular, commodities), and warehoused goods. It is intended that the consideration for the transaction will be settled in two parts. Firstly, at the completion date, which is expected by the end of June after the finalisation of the necessary regulatory and administrative procedures, an amount of £4 million will be paid in cash and the company will issue 813 million new SYME shares at market price to the TradeFlow sellers. This represents less than 3% of the company's issued share capital. Secondly, earn-out payments covering the period from January 2021 to December 2023, made in cash or shares at the choice of the company, based on TradeFlow achieving annual revenue targets commensurate with the business plan that underpins its valuation. TradeFlow has been valued at approximately £31m by an independent valuation company. The valuation is based on the positive track record of funds launched, the Intellectual Property rights related to the proprietary digital platform ("TradeFlow+") and the TradeFlow business plan to 2025. At 2:10pm: (LON:SYME) share price was 0p at 0.37p Story provided by

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