June 30, 2023 at 7:19 am
#4970

Keymaster
Quite a convoluted restructuring of the Tradeflow business whereby the Tradeflow founders will not pay any cash themselves to buy back 81%. SYME will receive £2m cash to fund ongoing operations via TAG, the SYME CEO-owned holding company, who have bought out shares owned by the Tradeflow founders. The company is essentially released from future earn out obligations and has agreed a 3 year, £1m licensing agreement for the use of its platform. It is a shame that the Tradeflow business had to be separated but SYME retains 19% with decent anti-embarrassment and call options, a release from obligations and £2m funding, bringing certainty. We now watch with interest whether the SYME platform can now deliver its potential with a clear run at it