WJA.L

Wameja Limited
Wameja Limited - Scheme of Arrangement - Third Amendment to SIA
18th June 2021, 07:00
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RNS Number : 3741C
Wameja Limited
18 June 2021
 

 

Wameja Limited ("Wameja")

 

Scheme of Arrangement- Third Amendment to SIA

18 June 2021

 

Wameja (LSE: WJA.L & ASX: WJA.AX), a joint venture partner with Mastercard in the HomeSend global payment hub, advises that the Sunset Date for 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") and amended on 9 April 2021 and 24 May 2021, has been extended to 2 July 2021. There are no other changes to the SIA.

 

The extension is to provide additional time for the execution of an agreement to resolve the Potential Indemnity Claims as     announced on 23 October 2020 and 5 November 2020 (including any potential for further claims against Wameja under the relevant indemnity granted to Seamless Distribution Systems AB ("Seamless") in the sale and purchase agreement for the sale of Wameja's core business to Seamless that completed in July 2019) ("Settlement Agreement"). The Settlement Agreement has been executed by Wameja, Mastercard and the third party provider of intellectual property relevant to the indemnity.  Wameja and Mastercard are awaiting the execution of the Settlement Agreement by Seamless and its relevant subsidiaries.

 

On this basis, Mastercard and Wameja will proceed with the Scheme in accordance with the terms and conditions of the SIA once the Settlement Agreement is executed by Seamless.

 

The terms of the Settlement Agreement do not impact the Scheme Consideration and it does not require any settlement payment by Wameja.

 

 

Authorised by:

Tom Rowe Company Secretary

trowe@capitalcorporatelaw.com.au

 

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

For further information, please contact:

Wameja Limited

www.wameja.com

John Conoley, Non-Executive Chairman

Tom Rowe, Company Secretary

investors@wameja.com

finnCap Limited (Nomad and Broker)

Corporate Finance: Jonny Franklin-Adams / Charlie Beeson Corporate Broking: Tim Redfern / Richard Chambers

www.finnCap.com

T: +44 (0) 20 7220 0500

 

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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