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MYSQ Mysquar

0.29
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mysquar LSE:MYSQ London Ordinary Share VGG6361G1072 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.29 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

MySQUAR Limited Statement re Media Speculation (3726M)

28/07/2017 7:01am

UK Regulatory


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TIDMMYSQ

RNS Number : 3726M

MySQUAR Limited

28 July 2017

28 July 2017

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

Statement re Media Speculation

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, notes the recent media speculation regarding a potential fundraise and can confirm that a placing is in the process of being arranged.

As previously notified, the Company achieved run rate operational break even at the end of June and does not expect to require additional funds for ongoing operations. The Company notes that as at 30 June 2017 it had unaudited cash in excess of USD 700,000 and is therefore comfortable with its current cash position.

The Company continues to evaluate additional monetisation opportunities and is therefore considering a strategic capital raise, the proceeds of which would be used towards establishing MySQUAR's own mobile payments platform within Myanmar. This will include creating digital wallet services and a mobile payment application processing peer-to-peer (P2P) and person-to-merchant (P2M) transactions for the Myanmar market.

The Company is also considering raising funds to be used to evaluate potential acquisitions and strategic investments in order to accelerate the growth of MySQUAR's product lines.

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/Soltan 
 Tagiev 
 
 Beaufort Securities Limited     Tel: +44 (0) 207 
 Broker                          382 8300 
 Jon Belliss/Elliot Hance 
  Public Relations 
  Damien McCrystal               Tel: +44 (0) 781 
                                 677 0758 
                                 damien@mccrystal.info 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

STRXVLBLDDFLBBF

(END) Dow Jones Newswires

July 28, 2017 02:01 ET (06:01 GMT)

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