Supply@ME completes acquisition of TradeFlow Capital
Supply@ME Capital plc, the innovative fintech platform which provides the inventory monetisation service to manufacturing and trading companies, has announced that it has completed the acquisition of TradeFlow Capital Management Pte Ltd – a Singapore-based fintech-powered commodities trade enabler focused on SMEs.
TradeFlow has been valued at approximately £31m by an independent valuation company. The Parties agreed that the transaction price will be settled in cash and shares. The Company has made an application to the London Stock Exchange for admission to listing of 1,477,705,882 New Ordinary Shares – which represents less than 5% of the Company’s issued share capital.
The acquisition enables Supply@ME 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.
Following completion of the strategic transaction, Supply@ME is now entering the next phase of its scalable growth. To this effect, it is the intention of the Company to further strengthen its Board, as announced previously, with the appointment of two new Executive Directors, Tom James and John Collis, who will also continue to lead the TradeFlow business.
The new Directors will be officially appointed following the 2020 AGM, scheduled for 30 July 2021 at which time, Supply@ME will make a dedicated announcement. In this regard, and pursuant to corporate governance best practices, the Company is conducting an internal assessment regarding the board’s composition, including the number of its independent and non-executive directors.
Supply@ME Chief Executive, Alessandro Zamboni said: ““I am very pleased to announce the completion of the acquisition of TradeFlow Capital and the upcoming appointments of Tom and John as Executive Directors of Supply@ME. The acquisition will establish Supply@ME as the market leader in inventory monetisation and will generate a number of highly attractive synergy benefits for the Company in terms of funding and customer origination. By joining together, we now have an enhanced platform with an offering for the supply chain sector which is unparalleled. We are also assembling an exceptionally strong Board with the depth and breadth of experience necessary to maintain our momentum and we will continue to strengthen this team as opportunities present.”