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News Centre Extension of Convertible Loan Note

8 January 2015

MoneySwap Plc

("MoneySwap" or the "Company")

 

Extension of Convertible Loan Note

 

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 an update on a convertible loan note.

 

Further to the announcements on 5 December 2014 and 9 December 2014, the maturity date of the US$1,000,000 convertible loan note (the “Loan Note”), issued by the Company’s wholly owned subsidiary, Money Swap Exchange Limited (“MSEL”) and due to expire on 8 January 2015, has today automatically been extended by one year to 8 January 2016, in accordance with the terms of the Loan Note.   All other terms of this Loan Note remain the same. On 6 January 2015, MSEL did receive a redemption notice from the holder of the Loan Note, however, as the notice was not received in the period specified under the terms of the Loan Note, being at least two months prior to the maturity date of the Loan Note, the Directors of MoneySwap consider that the redemption notice was not valid.

 

For further information, please contact:

 

MoneySwap Plc

Allenby Capital Limited

MoneySwap Plc

 

Nominated Adviser

Financial PR

Richard Proksa

Chief Executive Officer

Nick Naylor

Alex Price 

James Reeve

Fiona Fenn Smith

 

+852 3919 9888

+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 prepaid card services working with partners such as Corner Bank, Switzerland and Visa and 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.