MONEYSWAP PLC 14 March 2016
MoneySwap (AIM: SWAP), the provider of payment solutions to online and point of sale merchants licenced for UnionPay in the UK and the provider for UnionPay MoneyExpress service enabling overseas persons to send funds directly to UnionPay cardholders in China, announces that it has raised US$150,000 by the issue of a new convertible loan note (the "Convertible Loan").
The Convertible Loan is unsecured, carries interest at the rate of 5% per annum and is repayable by the Company on 11 March 2018. The Convertible Loan may, solely at the Company's option, be converted into new ordinary shares in MoneySwap on 11 March 2018 at a price equal to the average price of an ordinary MoneySwap share for the ten business days prior to the conversion date.
The Convertible Loan note has been subscribed for by Leading Empire Group ("Leading Empire"), a privately held investment company registered in British Virgin Islands with no current connections with the Company.
The Company is in discussions for Leading Empire to subscribe for further tranches of the Convertible Loan of a similar amount and further announcements will be made in due course.
The issue of the Convertible Loan is being undertaken prior to the Company undertaking more substantial funding in the near future which will be sufficient to fund the Company's development over the next two years. Discussions with potential sources of this development funding package continue and further announcements will be made in due course.
For further information, please contact:
MoneySwap Plc | Allenby Capital Limited | MoneySwap Plc |
Non-Executive Chairman | Nominated Adviser | Financial PR |
Craig Niven | Nick Naylor James Reeve | Fiona Fenn Smith |
+44 7767 497400 | +44 20 3328 5656 | +44 7712 101922 |
About MoneySwap (www.moneyswap.com)
MoneySwap provides payment solutions and gateways to merchants which allow both online and point of sale transactions to be settled using UnionPay cards in the UK. In addition, UnionPay has licensed MoneySwap for its MoneyExpress service which enables overseas persons to send funds directly to UnionPay cardholders in China. The Company also offers an online peer to peer platform for currency exchange and payments. The Company's shares are traded on the London Stock Exchange's AIM market (AIM: SWAP). More information can be found at www.moneyswap.com.
MoneySwap plc issued this content on 14 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 March 2016 14:33:16 UTC
Original Document: https://www.moneyswapholdings.com/uploadFile/MoneySwap - loan funding.pdf
