Forgot Username or Password/PIN?
News Centre Issue of US$1,100,000 of convertible loan notes

For immediate release: 11 January 2013

MoneySwap Plc
("MoneySwap", the “Group” or the "Company")
 
Issue of US$1,100,000 of convertible loan notes
 
MoneySwap Plc (AIM: SWAP), the Asia focused prepaid card and online payment services provider, is pleased to announce that its wholly owned subsidiary, Money Swap Exchange Limited (“MSEL”), has issued convertible loan notes totalling US$1,100,000 (the “Loan Notes”).
 
The funds received from the Loan Notes will be used to invest in the Group’s IT and payment systems as well as to continue to develop the Group’s new lines of business in co-operation with China UnionPay, further details of which have been announced previously. Any remaining funds will be used for general working capital purposes.
 
The Loan Notes bear the same principal terms as those announced on 19 December 2012 and carry a 10% annual coupon with a maturity date in two years’ time (the “Maturity Date”), at which point the Loan Note holders may request repayment of the outstanding principal, plus any accrued interest. Should an individual Loan Note holder not request repayment at the Maturity Date, their principal repayment date will automatically be extended for a further 12 months. MSEL has the option to repay all or part of the Loan Notes, plus any accrued interest, at its discretion, at any time from six months after the issue of the Loan Notes until the Maturity Date. 
 
Any principal amounts outstanding under the Loan Notes at the Maturity Date may be converted, at the discretion of the Loan Note holders, either in whole or in part, into new ordinary shares of MoneySwap (the “Conversion”). The price of the Conversion will be calculated as a 10% discount to the average closing price of an ordinary share in MoneySwap on AIM for the 10 business days prior to the Maturity Date.
 
Chee Boon Lee, CFO, said: “We are delighted to successfully secure these additional loan notes, which help us to invest further in the necessary IT and payment system development, as well as increase the marketing effort that is required to expand our relationship with China UnionPay.”
 
- Ends –
 
For further information, please contact:

MoneySwap Plc
Allenby Capital Limited
GTH Communications
 
Nominated Adviser
Financial PR
Richard Proksa
Chief Executive Officer
Nick Naylor
Alex Price 
James Reeve
Toby Hall 
Suzanne Johnson Walsh
+852 3919 9888  
+44 20 3328 5656
+44 207 822 7493/7492

 
About MoneySwap (www.moneyswap.com)
MoneySwap Plc has its operational headquarters in Hong Kong. Primarily focused on the Asia market, the Group offers prepaid card services and also operates an online peer to peer foreign exchange and payment platform. The Group offers prepaid card services working with partners such as Corner Bank, Switzerland and Visa. MoneySwap is also a merchant acquirer for China UnionPay providing payment gateways for both online and point of sale merchants. In addition, UnionPay has licensed MoneySwap for its MoneyExpress service which enables people abroad to send funds directly to UnionPay cardholders in China. Its shares are traded on the London Stock Exchange's AIM market (AIM: SWAP). More information can be found at www.moneyswap.com.