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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Wameja Limited | LSE:WJA | London | Ordinary Share | AU0000053472 | 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% | 7.90 | 7.80 | 8.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMWJA
RNS Number : 1387O
Wameja Limited
05 February 2021
Wameja Limited ("Wameja")
Scheme of Arrangement - Update
5 February 2021
Wameja (LSE: WJA.L & ASX: WJA.AX), a joint venture partner with Mastercard in the HomeSend global payment hub, provides a further update regarding the Scheme of Arrangement ("Scheme") proposed under the Scheme Implementation Agreement ("SIA") with Burst Acquisition Co. Pty. Ltd, a company controlled by Mastercard ("Mastercard"), as announced on 10 September 2020 ("Announcement") .
Potential Indemnity Claim
In its announcement of 23 October 2020, Wameja advised that Seamless Distribution Systems AB ("Seamless"), the purchaser under the sale and purchase agreement for the sale of Wameja's core business that completed on 25 July 2019 ("SPA"), had given notice of a potential claim under the indemnity given by Wameja to Seamless in the SPA in respect of licences for certain third party intellectual property utilised by Botswana Telecommunications Corporation Limited ("BTC"), as a user of eServGlobal's "Paymobile" platform ("Initial Notice").
In its announcement of 5 November 2020, Wameja advised that Seamless had notified it of the potential for further claims under the indemnity in the SPA regarding third party intellectual property utilised in eServGlobal's "Paymobile" platform across multiple customers, including BTC ("Potential Indemnity Claims").
The audit of the third party intellectual property embedded in the Paymobile platform utilised by BTC, as announced on 3 December 2020, is progressing and Wameja is managing the audit. Wameja maintains its view that the potential for a legitimate material claim under the indemnity in the SPA is very low. The Wameja board remains optimistic that the Potential Indemnity Claims will be resolved.
Scheme of Arrangement
Both Wameja and Mastercard remain committed to the Scheme and have agreed to extend the term of the SIA to accommodate a revision to the indicative transaction timetable for the Scheme that is set out in the announcement of 3 December 2020.
The indicative timetable is now:
First Court Date: 18 March 2021 Dispatch of Scheme Booklet (inc.IER) 24 March 2021 Scheme Meeting: 23 April 2021 Second Court Date: 29 April 2021 Effective Date (last day of trading): 30 April 2021 Record Date: 4 May 2021 Implementation (Payment) Date: 11 May 2021
Wameja will provide updates to the Potential Indemnity Claims and the Scheme in due course.
Authorised by:
Tom Rowe
Company Secretary
trowe@capitalcorporatelaw.com.au
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.
For further information, please contact:
Wameja Limited www.wameja.com John Conoley, Non-Executive Chairman investors@wameja.com Tom Rowe, Company Secretary finnCap Limited (Nomad and Broker) www.finnCap.com Corporate Finance: Jonny Franklin-Adams / T: +44 (0) 20 7220 Charlie Beeson 0500 Corporate Broking: Tim Redfern / Richard Chambers
About Wameja
Wameja and Mastercard are joint venture partners of the HomeSend global payment hub. HomeSend enables cross-border transfer between bank accounts, cards, mobile wallets, or cash outlets from anywhere in the world. As a founding partner in the HomeSend hub, Wameja helped conceive and bring the opportunity to market.
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February 05, 2021 02:40 ET (07:40 GMT)
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