MySQUAR Limited Issue of Equity and Total Voting Rights (3611Y)

TIDMMYSQ

RNS Number : 3611Y

MySQUAR Limited

02 March 2017

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 24,060,149 ordinary shares of no par value ("Ordinary Shares") ("Conversion Shares") pursuant to the conversion of US$300,000 of loan notes by Sandabel Capital LP ("Sandabel"). Under the terms of the second USD 2.0 million Convertible Loan Note (CLN) issued to Sandabel dated 9 December 2016 (as announced 12 December 2016), Sandabel receives a conversion amount of shares equal to 1.1 times the principal value of loan notes converted at the conversion price of GBP0.0109375 (representing a 12.5% discount to the closing bid price on Thursday 22 February 2017).

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 7 March 2017 ('Admission').

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following Admission it will have 286,205,833 Ordinary Shares in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 286,205,833.

The above figure of 286,205,833 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                    Tel: +44 (0) 207 
 Jon Belliss/Elliot Hance        382 8300 
 
 Mirabaud Securities LLP 
 Joint Broker 
 Edward Haig-Thomas/Peter        Tel: +44 (0)20 
 Krens                           7878 3447 
 
  Public Relations               Tel: [phone] 
  Damien McCrystal               770 758 
                                 [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 02, 2017 06:07 ET (11:07 GMT)