MySQUAR Limited Notice of General Meeting (5037U)

TIDMMYSQ

RNS Number : 5037U

MySQUAR Limited

12 July 2018

12 July 2018

MySQUAR Limited

("MySQUAR" or the "Company")

Notice of General Meeting

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 a Notice of General Meeting ("GM") has been sent to shareholders and is available on the Company website at:

http://investors.mysquar.com/corporate-documents/

A GM will be held on 30(th) July 2018 at 11 am Gulf Standard Time Level 42, Emirates Towers Dubai, United Arab Emirates.

The proposed resolution is a special resolution pursuant to the Company's articles of association to resolve for the purposes of Sub-Regulation 2.3 of the Company's articles of association, that the Directors shall be authorised within a period of twelve months commencing on 30(th) July 2018 or until the next Annual General Meeting, whichever shall occur first, to allot, or to grant rights ("Rights") to subscribe for or convert any security into, up to 432,173,064 ordinary shares of no par value of the Company ("Shares").

The Company is requesting the authority to allot these Shares and/or grant these Rights to provide sufficient authority for the Company to issue shares (a) which may arise on conversion ("Conversion Shares") of the unsecured convertible bonds issued to Atlas Capital Markets Limited ("Atlas Bonds") announced on 20th June 2018 (b) in consideration of any future acquisitions and (c) for cash. If the Resolution is not passed, then the Company may, depending on the Company's share price at the time of any conversion notice, have insufficient authority to issue all the Conversion Shares and the Atlas Bonds would fall to be repaid in cash. In addition, without the flexibility to allot further Shares and/or grant Rights, the Company may not be able to take advantage of more acquisition opportunities, if available.

For further information:

 
MySQUAR Limited 
Eric Schaer (Chief Executive)     Tel: [phone] 
 
SP Angel Corporate Finance 
 LLP 
Nominated Adviser & Joint         Tel: [phone] 
 Broker                            0470 
Stuart Gledhill / Soltan Tagiev 
 
Daniel Stewart and Company 
 Plc 
Joint Broker                      Tel: [phone] 
                                   6550 
David Lawman/Jon Levinson/Daphne 
Zhang 
 
Public Relations                   Tel: [phone] 
                                    0758 
Damien McCrystal                  [e-mail] 
 

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July 12, 2018 11:00 ET (15:00 GMT)