MoneySwap Plc Result of EGM (8682C)
April 20 2017 - 6:22AM
UK Regulatory
TIDMSWAP
RNS Number : 8682C
MoneySwap Plc
20 April 2017
20 April 2017
MoneySwap plc
("MoneySwap" or the "Company")
Result of EGM
MoneySwap announces that at the extraordinary general meeting of
the Company (the "EGM"), held earlier today, all the resolutions
proposed were duly passed. The resolutions were set out in a
circular posted to the Company's shareholders on 29 March 2017.
Certain resolutions proposed at the EGM were to approve the
subscription by Wraith Holding B.V. ("Wraith") for new ordinary
shares of 0.1p each in the Company (the "New Ordinary Shares") to
raise approximately GBP2.44 million (the "Subscription"). Following
the passing of the resolutions at the EGM and the waiver (subject
to the cancellation of the Company's existing ordinary shares from
trading on AIM ("Cancellation")) of certain conditions of the
Subscription by Wraith, as announced on 13 April 2017, the only
outstanding conditions to the Subscription (assuming that
Cancellation occurs) are:
(i) the provision by the United Kingdom Financial Conduct
Authority of a letter of no objection to the changes in qualifying
holding in the Company's subsidiary, MoneySwap Limited;
(ii) there having been no breach of certain warranties contained
in the Subscription Agreement and no material adverse change in the
financial markets; and
(iii) there has been no material adverse change in any major
financial market in the US, the UK, Hong Kong or the EU.
As announced by the Company on 13 April 2017, the Board of
MoneySwap, in consultation with Wraith, considers that the Company
should seek Cancellation. The Company and Wraith do not anticipate
that completion of the Subscription will occur until Cancellation
has become effective. The Company will shortly be posting to
shareholders a circular giving further details on the proposed
Cancellation and containing a notice of a further extraordinary
meeting (the "Cancellation EGM") to approve the Cancellation, in
accordance with Rule 41 of the AIM Rules for Companies.
Further details will be provided in due course.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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