Shares of Supply@Me Capital (SYME) fell slightly following a conversion notice

Key points:

  • [email protected] the shares fell slightly after receiving a conversion notice.
  • Shares of the company fell 37% in 2022, but will they continue to fall?
  • I would wait for a strong bullish signal before buying, as I favor the upside.

the [email protected] Capital PLC (LON:SYME) share price fell slightly after it revealed it had received a partial conversion notice from Mercator Capital Management Fund LP.

Mercator requested the conversion of £500,000 of the principal amount of the convertible loan issued by [email protected] Capital on 2 February 2022 worth £678,333.34.

Also read: The best financial stocks to buy right now.

SYME will issue 489,787,922 new shares to Mercator, each with a value of £0.0010, representing 1.3% of the issued share capital of the company prior to the issuance of the conversion shares.

Following the issuance of the conversion shares, SYME will be left with an outstanding convertible loan worth £178,333.34. The company has also issued warrants for 20% of the aggregate principal amount of the convertible debt notes issued to Mercator.

[email protected] Capital revealed that it had written to the UK’s Financial Conduct Authority (FCA) and the London Stock Exchange (LSE) to have the conversion shares admitted to trading on the LSE’s primary market. They will start trading on February 28, 2022.

Investors barely reacted to the news, as evidenced by the 0.01 pence drop in SYME share price today.

SYME’s last major announcement was on February 18, 2022, when it revealed that it was joining DP World’s Cargoes Finance platform, where the TradeFlow non-credit facility for transit and warehouse goods will be integrated into the platform. form.

The Cargoes platform enables SMEs to access capital from the world’s leading financial institutions. SYME would join the platform through its investment advisory services division to generate revenue from services rendered through the platform.

At the time, I mentioned that SYME shares looked attractive as they fell 37% in 2022 as investors struggled to determine when the company should start generating profits.

I still think SYME could generate significant returns for investors in the future, but not now. Investors should watch the stock for signs of a strong uptrend in the form of significant bullish daily candles.

Until then, I would watch the stock from the sidelines, although there is very little room for SYME shares to fall from the significant upside potential.

*This is not investment advice. Always exercise due diligence before making investment decisions.

[email protected] Price of the capital share.

Supply@Me stock price IG chart 25-02-2022
Source: IG

[email protected] Capital shares edged down 9.09% to trade at 0.10p, down from their opening price of 0.11p.

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