MySQUAR Limited Exercise of Convertible Bonds and Issue of Equity (7532T)
05 July 2018 - 10:01PM
UK Regulatory
TIDMMYSQ
RNS Number : 7532T
MySQUAR Limited
05 July 2018
5 July 2018
MySQUAR Limited
("MySQUAR" or the "Company")
Exercise of Convertible Bonds and Issue of Equity
MySQUAR, the Myanmar-language social media, entertainment and
payments platform whose principal activity is to design, develop
and commercialise Myanmar-focused internet-based mobile
applications, announces that, pursuant to the convertible bond
issuance on 20 June 2018, the Company has received a notice of
conversion in respect of GBP200,000 convertible bonds into
18,473,475 new ordinary shares of no par value in the capital of
the Company ("Ordinary Shares") ("Conversion Shares") at a
conversion price of approximately 1.08 pence per Conversion
Share.
Application will be made for the Conversion Shares, which will
rank pari passu with the Company's existing issued Ordinary Shares,
to be admitted to trading on AIM. It is expected that admission
will become effective and that trading in the Conversion Shares
will commence on or around 11 July 2018 ("Admission").
In accordance with the Financial Conduct Authority's (FCA)
Disclosure and Transparency Rules, the Company hereby announces
that following Admission it will have 864,346,128 Ordinary Shares
in issue, none of which are held in Treasury.
Following the issue of direction notices to certain registered
holders of depositary interests representing an aggregate
122,193,130 ordinary shares in the Company (approximately 14.14 per
cent of the issued share capital as enlarged following this
conversion) restricting each of them from voting in person or by
proxy at a general meeting of the Company as announced on 25 June
2018, the total number of current voting rights in MySQUAR is
742,152,998. This figure may be used by shareholders (and others
with notification obligations) as the denominator for the
calculation by which they may determine, if required, their
interest in, or a change to their interest in, MySQUAR under the
FCA's Disclosure and Transparency Rules.
Following the conversion, there is GBP2,022,222 of principle
outstanding under the Convertible Bond facility.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information:
MySQUAR Limited
Eric Schaer (Chief Executive) Tel: +65 6725 6388
SP Angel Corporate Finance
LLP
Nominated Adviser & Joint Tel: +44 (0) 203 470
Broker 0470
Stuart Gledhill / Soltan Tagiev
Daniel Stewart and Company
Plc
Joint Broker Tel: +44 (0) 207 776
6550
David Lawman/Jon Levinson/Daphne
Zhang
Public Relations Tel: +44 (0) 781 677
0758
Damien McCrystal damien@mccrystal.info
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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