MoneySwap Plc Statement re. Suspension (4373K)
September 21 2016 - 5:30AM
UK Regulatory
TIDMSWAP
RNS Number : 4373K
MoneySwap Plc
21 September 2016
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
21 September 2016
MoneySwap plc
("MoneySwap" or the "Company")
Statement re suspension
MoneySwap announces that it has become apparent that the Company
will not be in a position to publish its audited report and
accounts for the year ended 31 March 2016 by 30 September 2016, in
accordance with the AIM Rules for Companies. The Company remains in
discussions with Hunan Commodities Trading Centre Company Limited
("HNCX") with regards to the proposals for HNCX to subscribe for
approximately US$5.4 million of new ordinary shares in the Company
and hopes to be in a position to update shareholders in the near
future. However, the additional workload involved in the due
diligence process, in addition to year end procedures ahead of a
major financing and a reduction in personnel in the finance
department, have contributed to the delay in the Company being able
to produce the audited accounts by the 30 September 2016.
As a result, the Company's shares have been suspended from
trading on AIM as of 10:30 a.m. today, pursuant to AIM Rule 19. The
suspension will remain in place until the Company's audited report
and accounts for the year ended 31 March 2016 have been published
and posted to shareholders.
- Ends-
For further information, please contact:
MoneySwap Plc Allenby Capital Limited
Interim Chief Executive Nominated Adviser
------------------------
Craig Niven Nick Naylor
James Reeve
------------------------
+44 7767 497400 +44 20 3328 5656
------------------------
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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