Supply@ME Capital PLC (LON:SYME), the fintech platform which provides inventory monetisation services to manufacturing and trading companies, said it has expanded its shareholder base.
Five professional investors have acquired a combined 12.2% stake. Their interest followed the completion of transactions aimed at simplifying the company's ownership structure.
The clean up saw 1AF2 S.r.l acquire 4.2bn Supply@ME shares from a holder called IWEP Ltd. 1AF2 S.r.l. was then merged with AvantGarde Group S.p.A, which will be renamed simply ‘the AvantGarde Group’.
Another investor, Orchestra Group, has disposed of all of its shares to the newly formed AvantGarde Group.
Finally, 4bn shares were sold to the new investors.
Following the round of transactions, the AvantGarde Group, which is beneficially owned by Supply@ME chief executive, Alessandro Zamboni, will have 38.9% of Supply@ME and IWEP will own less than 3%.
"These transactions have enabled us to increase the diversity and number of committed, professional investors on the company's share register and will undoubtedly help to raise our investment profile,” said Zamboni in a statement.
For full details click here.