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 7 March 2018.
The Company has received a notice of conversion in respect of £350,000 convertible bonds into 25,425,575 new ordinary shares of no par value in the capital of the Company (“Ordinary Shares”) (“Conversion Shares”) at a conversion price of approximately 1.38 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 6 June 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 739,992,415 Ordinary Shares in issue, none of which are held in Treasury. Therefore, the total number of voting rights in the Company is 739,992,415.
The above figure of 739,992,415 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 to 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.
MySQUAR Limited (LON:MYSQ) CEO Eric Schaer and chief operating officer Stephen Chong discuss with Proactive’s Andrew Scott the upcoming launch of their mobile money platform following the signing of a couple of key agreements.
