RC365 Holding PLC Notice of Acquisitions and RPT (4462Q)

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RNS Number : 4462Q

RC365 Holding PLC

28 June 2022

28(th) June 2022

RC365 Holding Plc

("RC365" or the "Company")

Notice of Acquisitions and Related Party Transactions

RC365 Holding Plc ("RC365"), a company focusing on payment gateway solutions and IT support and security services, is pleased to announce that it has completed the acquisition of the entire issued share capital of RCPAY Ltd (UK), subject to FCA approval, RCPAY Limited (Hong Kong) and Regal Crown Technology (Singapore) Pte Ltd. The consideration payable was GBP1 per acquisition. These acquisitions will offer growth opportunities for RC365 by expanding into the UK, Hong Kong, Singapore and other ASEAN countries and providing cross border payment solutions around the world. The UK and Hong Kong companies will also provide money remittance and exchange services and have obtained the relevant license from the regulatory authorises being Custom and Excise Department in Hong Kong and the Financial Conduct Authority in the UK.

The Board believes that these acquisitions will strengthen the Company's position within the fast growing and attractive market in which it operates.

Transactions overview:

-- The acquisition of the entire issued share capital of RCPay Ltd, a company incorporated in England and Wales with a registered address of 58 Coatsworth Road, Gateshead, Tyne And Wear, England, NE8 1QN from Law Chi Kit, a director of RC365 and is therefore deemed to be a related party transaction, for total consideration of GBP1. This transaction is subject to FCA approval.

-- The acquisition of the entire issued share capital of RCPay Ltd (Hong Kong), a company incorporated in Hong Kong with a registered address of Room I, 17/F, MG Tower, 133 Hoi Bun Road, Kwun Tong, Hong Kong from Law Chi Kit, a director of RC365 and is therefore deemed to be a related party transaction, for total consideration of GBP1.

-- The acquisition of the entire issued share capital of Regal Crown Technology (Singapore) Pte Ltd a company incorporated in Singapore with a registered address of 114 Lavender Street, #11-88, CT HUB 2, Singapore 338729 from Low Li Lian, for total consideration of GBP1. Law Chi Kit is a director of Regal Crown Technology (Singapore) Pte Ltd and therefore this is deemed to be a related party transaction.

For further information please contact:

 
 RC365 Holding plc                        T: [phone] 
  Chi Kit LAW, Chief Executive Officer     E: [e-mail] 
 Guild Financial Advisory Limited -       T: [phone] 
  Financial Adviser                        E: [e-mail] 
  R oss Andrews 
 

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June 28, 2022 05:08 ET (09:08 GMT)