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Supply@Me plans to acquire inventory ownership business

ALN

Supply@Me Capital PLC on Tuesday said it plans to acquire an inventory ownership business as part of a strategy to evolve its business model towards direct inventory ownership and capital deployment.

Shares in Supply@Me fell 11% to 0.0027 pence on Tuesday afternoon in London.

The London-based inventory monetisation platform said it has entered into non-binding head of terms with Societe Financiere Europeenne SA regarding the proposed acquisition of its inventory ownership business.

The purchase price will be agreed between the two companies after an independent valuation and due diligence is carried out.

The inventory ownership business comprises independent stock companies, as well as the relevant contractual arrangements, intellectual property right sand operating infrastructure.

Supply@Me said it expects the proposed acquisition to deliver a range of benefits, including the alignment of capital and enhanced lender confidence, and the creation of a credible operational track record.

The company noted that its chief executive Alessandro Zamboni is considered a ‘related party’ as he holds an indirect shareholding in SFE through a company he wholly owns and controls.

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