Source - RNS
RNS Number : 4687M
MySQUAR Limited
13 October 2016
 

MySQUAR Limited ("MySQUAR" or the "Company")

Issue of Equity and Total Voting Rights

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 the issue of 3,574,458 ordinary shares of no par value ("Ordinary Shares") ("Conversion Shares") pursuant to the conversion of US$150,000 of loan notes by Sandabel Capital LP ("Sandabel"). Under the terms of the Convertible Loan Note (CLN) Sandabel receives a conversion amount of shares equal to 1.1 times the principal value of loan notes converted at the conversion price of GBP£0.0371875 (representing a 12.5% discount to the closing bid price on Friday 7 October 2016).

 

In addition the Board of Directors of MySQUAR announces that it has terminated its agreement with SP Angel Corporate Finance LLP ("SP Angel") who, with immediate effect, will no longer act as joint broker to the Company. SP Angel has been issued 268,908 Ordinary Shares in consideration ("Consideration Shares") and will continue to act as Nominated Adviser to the Company.

 

Application will be made for the Conversion Shares and Consideration 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 18 October 2016 ('Admission').

 

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following Admission it will have 205,199,463 Ordinary Shares in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 205,199,463.

 

The above figure of 205,199,463 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

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 6818 6089

Pham Dang Hung (CFO)




SP Angel Corporate Finance LLP


Nominated Adviser

Tel:  +44 (0) 203 470 0470

Stuart Gledhill/Laura Harrison

 

Beaufort Securities Limited

Joint Broker

Jon Belliss/Elliot Hance

 

Mirabaud Securities LLP

Joint Broker

Edward Haig-Thomas/Peter Krens

 

 

 

 

Tel:  +44 (0) 207 382 8300

 

 

 

Tel: +44 (0)20 7878 3447

 

Public Relations

Damien McCrystal

 

Tel:  +44 (0) 7816 770 758

[email protected]

 

 

For further information:

 

MySQUAR Limited


Eric Schaer (Chief Executive)

Tel: +65 6818 6089

Pham Dang Hung (CFO)




SP Angel Corporate Finance LLP


Nominated Adviser

Tel:  +44 (0) 203 470 0470

Stuart Gledhill/Laura Harrison

 

Beaufort Securities Limited

Joint Broker

Jon Belliss/Elliot Hance

 

Mirabaud Securities LLP

Joint Broker

Edward Haig-Thomas/Peter Krens

 

 

 

 

Tel:  +44 (0) 207 382 8300

 

 

 

Tel: +44 (0)20 7878 3447

 

Public Relations

Damien McCrystal

 

Tel:  +44 (0) 7816 770 758

[email protected]

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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