What is the latest Supply @ME share price news?

Here are the latest updates released by Supply @ME in the past month.

· 2 min read
Supply@me
Supply@me

Over the past month the Supply @ME share price (LON: SYME) (SYME.L) has fallen by around 12%. This compares to a 3% rise for the FTSE AIM All-Share Index (INDEXFTSE: AXX) to which the stock belongs.

In that time, the company has released an update regarding its proposed acquisition of TradeFlow Capital Management. It is a Singapore-based FinTech-powered commodities trade enabler that largely focuses on small and medium-sized businesses.

Supply @ME had announced on 17 March that it had signed Heads of Terms for the potential acquisition of the firm. It stated in its latest update on 19 April that the due diligence process is continuing, while it also plans for the integration of the two companies’ operations. Furthermore, the firm and its advisors have started their review of the cross-border aspects of TradeFlow’s business, as well as its funding structures and inventory ‘in-transit’ technology.

The two firms are keen to complete the acquisition as soon as possible, according to the latest update. The terms of the deal and its financing are being structured to maximise existing shareholder value, according to Supply @ME’s announcement. It plans to make further announcements in due course.

In addition to the update regarding its acquisition, the company also released news on 30 April that all resolutions put to its shareholders at the 2019 AGM were passed. There have been no director deal updates released by the company in the past month.

It expects to publish its 2020 financial year accounts during May, having previously planned to release them by 30 April. The company cited challenges posed by the ongoing Covid-19 pandemic in remotely preparing the accounts, particularly in countries such as Italy where the main operating subsidiary of the firm is based.

The firm’s announcement stated that this is per regulatory guidance that allows companies to publish their annual financial reports up to six months from the end of their financial year in light of the pandemic.

Over the past year, the Supply @ME share price has risen by 32%. It is currently down 66% since it was listed on 27 March 2020. By comparison, the FTSE AIM All-Share Index is up 57% in the past year. The company’s next investor update is due to be its annual report. As highlighted, this is expected to be released in May. The firm’s shares are currently trading at 0.37p at the time of writing.


Not Investment Advice
Note: Views expressed are those of the writer. The author does not own any stocks mentioned. The article is information, not advice. Share prices can rise and fall. Past returns are not a guide to the future. Please do your own research.

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