31 May 2016 11:25
31 May 2016
MoneySwap plc
("MoneySwap" or the "Company")
Draw down on short term loan
MoneySwap (AIM: SWAP), the provider of payment solutions to online and point of sale merchants licensed for UnionPay in the UK and the provider for UnionPay MoneyExpress service enabling overseas persons to send funds directly to UnionPay cardholders in China, today announces that it has drawn down a further USD 80,000 under the loan facility from Changsha Zhangdian Investment Company Limited (the "Lender"), further details of which were announced by the Company on 9 May 2016. The Company has now drawn down USD160,000 of a total USD available under the facility from the Lender and it is anticipated that the balance, being USD 40,000, will be drawn down in the near future.
The monies received by the Company will be applied principally in meeting the various legal and regulatory costs associated with completing a more substantial fundraising, as detailed in the Company's announcement on 9 May 2016.
- Ends-
For further information, please contact:
MoneySwap Plc | Allenby Capital Limited | MoneySwap Plc |
Non-Executive Chairman | Nominated Adviser | Financial PR |
Craig Niven
| Nick Naylor James Reeve | Fiona Fenn Smith
|
+44 7767 497400 | +44 20 3328 5656 | +44 7712 101922 |
About MoneySwap (www.moneyswap.com)
MoneySwap provides payment solutions and gateways to merchants, which allow both online and point of sale transactions to be settled using UnionPay cards in the UK. In addition, UnionPay has licensed MoneySwap for its MoneyExpress service, which enables overseas persons to send funds directly to UnionPay cardholders in China. The Company also offers an online peer-to-peer platform for currency exchange and payments. The Company's shares are traded on the London Stock Exchange's AIM market (AIM: SWAP). More information can be found at www.moneyswap.com.