MoneySwap Plc Statement re. Suspension (4373K)

TIDMSWAP

RNS Number : 4373K

MoneySwap Plc

21 September 2016

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

21 September 2016

MoneySwap plc

("MoneySwap" or the "Company")

Statement re suspension

MoneySwap announces that it has become apparent that the Company will not be in a position to publish its audited report and accounts for the year ended 31 March 2016 by 30 September 2016, in accordance with the AIM Rules for Companies. The Company remains in discussions with Hunan Commodities Trading Centre Company Limited ("HNCX") with regards to the proposals for HNCX to subscribe for approximately US$5.4 million of new ordinary shares in the Company and hopes to be in a position to update shareholders in the near future. However, the additional workload involved in the due diligence process, in addition to year end procedures ahead of a major financing and a reduction in personnel in the finance department, have contributed to the delay in the Company being able to produce the audited accounts by the 30 September 2016.

As a result, the Company's shares have been suspended from trading on AIM as of 10:30 a.m. today, pursuant to AIM Rule 19. The suspension will remain in place until the Company's audited report and accounts for the year ended 31 March 2016 have been published and posted to shareholders.

- Ends-

For further information, please contact:

 
 MoneySwap Plc             Allenby Capital Limited 
 Interim Chief Executive   Nominated Adviser 
                          ------------------------ 
 Craig Niven               Nick Naylor 
                            James Reeve 
                          ------------------------ 
 [phone]           [phone] 
                          ------------------------ 
 

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 21, 2016 05:30 ET (09:30 GMT)