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News Centre New Arrangement of Convertible Loan Note

29 June 2015

MoneySwap Plc

("MoneySwap" or the "Company")

 

New Arrangement 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 announcement on 8 January 2015, 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 automatically been extended by one year to 8 January 2016, in accordance with the terms of the Loan Note.

 

MSEL has to date made repayments totalling US$41,665 of the Loan Note.  MSEL has today agreed with the noteholder the following repayment schedule:

 

1.       A payment of US$8,333 on 8 July 2015.

2.       Twelve monthly instalments of US$91,667 from 8 August 2015 to 8 July 2016.

 

The schedule covers the repayment of the entire principal amount of the Loan Note, plus all interest accrued to date and to be accrued over the repayment period. The Company has agreed to provide a guarantee to the holder to pay and satisfy the repayment of all the sums of money which shall become due and in default by MSEL.

 

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 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 .