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News Centre Directorate Change - Replacement

The following announcement replaces the Resignation of Director Announcement 1833I released at 1527 on 28 June 2013.  The only change is the replacement of “Ashton Nominees Inc. remains a substantial shareholder” with “My investment vehicle, Black Swan plc (through Ashton Nominees Inc.) remains a substantial shareholder” in third paragraph.

 

MoneySwap Plc

("MoneySwap" or the "Group")

 

Resignation of Director

 

MoneySwap Plc (AIM: SWAP), the Asia focused prepaid card and online payment services provider, wishes to announce that Non-Executive Director Richard Poulden is stepping down from the Board with immediate effect to pursue his other interests. The Board would like to thank Richard for his contribution to the Company and wishes him well for the future.

Kung Min Lin, Chairman of MoneySwap said: “The Company is extremely grateful to Richard for all his work over the last few years on behalf of MoneySwap. We are sad to lose him but understand his reasons that he has to devote more time to his other business interests.”

Richard Poulden said: ”I wish the Company and Kung Min well for the future. My investment vehicle, Black Swan plc (through Ashton Nominees Inc.) remains a substantial shareholder and I have every confidence that the Company will be well led to a successful future.”

Mr. Poulden has agreed that all director fees and expenses accrued on his behalf will be in shares at the current bid price of 0.6p. The fees and expenses total £38,608.93 and accordingly the number of shares to be issued to Mr. Poulden is 6,434,822 (the “Shares”). An application will be made for the Shares, which are to be issued to Black Swan plc, to be admitted to AIM and it is expected that dealings in the shares will take place on or around 4 July 2013. Following the issue of the shares, Richard Poulden will be interested in 24,213,133 ordinary shares in the Company representing 5.67 per cent. of the then issued share capital.

Following the issue of the Shares, the total issued share capital of MoneySwap will consist of 427,305,477 ordinary shares of 0.1 penny each in the capital of MoneySwap. The Company currently holds no ordinary shares in treasury. Therefore the total number of voting rights in the Company will be 427,305,477.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of MoneySwap under the Disclosure and Transparency Rules.

 

- Ends-

 

For further information, please contact:

 

MoneySwap Plc

Allenby Capital Limited

St Brides Media and Finance Ltd

 

Nominated Adviser

Financial PR

Richard Proksa

Chief Executive Officer

Nick Naylor

Alex Price 

James Reeve

Susie Geliher

Frank Buhagiar

+852 3919 9888  

+44 20 3328 5656

+44 20 7236 1177

 

About MoneySwap (www.moneyswap.com)

MoneySwap is 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. The Group also offers prepaid card services working with partners such as Corner Bank, Switzerland and Visa. Its shares are traded on the London Stock Exchange's AIM market (AIM: SWAP). More information can be found at www.moneyswap.com.