5 Nov 2018 07:00
5 November 2018
MySQUAR Limited
("MySQUAR" or the "Company")
Suspension of Trading
The Company announces that it has requested the suspension of trading on AIM of the ordinary shares ("Shares") of no par value in the capital of the Company with effect from 7.30am today pending the clarification of the Company's financial position. This follows a review of the account into which the proceeds were paid of the bond issues announced on 7th March 2018 and 20th June 2018.
The Company's cash balances are very low and it has sought to draw down on the $1m facility from Rising Dragon Singapore Pte Limited without success. As a consequence there is material uncertainty regarding the Company's working capital position.
The Company has also withdrawn the application for admission to trading on AIM of the 171,428,571 Shares issued by way of a placing announced on 30th October 2018.
The Company is continuing to investigate the above matters and further announcements will be made as soon as practicable.
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 | |
Stephen Chong (Interim Chief Executive) | Tel: +65 6725 6388 |
SP Angel Corporate Finance LLP | |
Nominated Adviser & Joint Broker | Tel: +44 (0) 203 470 0470 |
Stuart Gledhill / Soltan Tagiev | |
Daniel Stewart and Company Plc | |
Joint Broker | Tel: +44 (0) 207 776 6550 |
David Lawman/Jon Levinson/Daphne | |
Zhang
| |
SVS Securities plc Joint Broker
Tom Curran
| +44 (0) 203 700 0093 |
Public Relations | Tel: +44 (0) 781 677 0758 |
Damien McCrystal | damien@mccrystal.info |