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News Centre Update on Refinancing

 19 December 2016

MoneySwap plc

(“MoneySwap” or the “Company”)

 

Update on Refinancing

 

MoneySwap today announces an update on its proposed refinancing activities. Since the Company's last update on October 18th 2016, discussions have continued with Hunan Commodities Trading Centre Company Limited ("HNCX"), the proposed new investor in MoneySwap, with a view to completing an issue of new shares which, if effected, would give HNCX an equity holding in excess of 51% of the enlarged share capital of MoneySwap. Having regard to the time being taken to complete this proposed subscription, MoneySwap has also entered into additional discussions with other third parties, as well as with existing shareholders and holders of convertible loan notes, with a view to completing an issue of new ordinary shares in the Company which would similarly lead to a new third party acquiring a holding substantially in excess of 51% of the thereby enlarged share capital. All these discussions continue and the Board will update shareholders of progress in due course.

 

 

- Ends- 

For further information, please contact:

 

MoneySwap Plc

Allenby Capital Limited

Interim Chief Executive

Nominated Adviser

Craig Niven

 

Nick Naylor

James Reeve

+44 7767 497400

+44 20 3328 5656

 

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.