Supply@ME to acquire TradeFlow Capital Management

© Reuters.

By Samuel Indyk – Supply@ME Capital announced on Wednesday that they have signed a share purchase agreement to acquire the entire share capital of Singapore’s TradeFlow Capital Management, a fintech-powered commodities trade enable focused on SMEs.

Financial Details

The consideration for the transaction is expected to be settled in two parts. Firstly, at the completion date – expected by the end of June – £4mln will be paid in cash and the company will issue 813mln new shares to the TradeFlow sellers, representing less than 3% of the Supply@ME’s issued share capital.

Secondly, earn-out payments covering the period from January 2021 to December 2023, made in cash or shares, based on TradeFlow achieving annual revenue targets commensurate with the business plan that underpins its valuation.

Supply@ME (LON:) said they intend to fund the initial cash component from an investment of capital being finalised with a group of new institutional investors.

“By bringing TradeFlow into the Supply@ME stable, we will have an offering for the supply chain sector which surpasses anything available globally, with vast opportunities to create even more value for our investors,” said Supply@ME CEO Alessandro Zamboni.

TradeFlow’s co-founders, John Collis and Tom James, will join the board of Supply@ME upon completion of the deal.

“The combination of the expertise in TradeFlow Capital and Supply@ME, will broaden our shared geographic footprint and create a global digitised offering which will create a number of benefits from both a funding, technology and customer origination perspective,” James said.

At 10:57BST, shares in Supply@ME were trading higher by 6.5% at 0.426 pence per share.

READ  BP preparing to announce CEO's plan to retire - Sky News
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here