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News Centre Repayment of Convertible Loan Note

11 March 2015

MoneySwap Plc

("MoneySwap" or the "Company")

 

Repayment 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 that it has repaid in full the US$100,000 convertible loan note (the “Loan Note”), issued by the Company’s wholly owned subsidiary, Money Swap Exchange Limited (“MSEL”) which was due for repayment together with all associated interest. 

 

In order to fund the repayment of this Loan Note, the Company has issued a new unsecured loan note to an independent third party, which bears interest of 5% per annum, repayable within two years from the date of issue and is convertible into new ordinary shares in the Company at the sole discretion of the Company.  The conversion price shall be calculated as the average closing market price of the Company’s shares in the ten business days prior to the conversion date.

 

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.