24th May 2021 10:33
Wameja Ltd - Millers Point, Australia-based software company - Extends scheme sunset date agreed with Burst Acquisition Co Pty Ltd, a company controlled by Mastercard Inc, to June 18, after already extending date to May 24. The extension is to provide additional time for the resolution of the potential indemnity claims.
Back in September 2020, Wameja has agreed to a takeover by MasterCard in a deal which value the fintech company at GBP96.9 million. The two companies currently partner up as part of the HomeSend payment hub programme.
"Wameja understands from Mastercard that agreement in principle has been reached with all relevant parties to resolve the potential indemnity claims, including any potential for further claims against Wameja under the relevant indemnity granted to Seamless in the sale and purchase agreement for the sale of Wameja's core business to Seamless that completed in July 2019, which remains subject to the execution of a final settlement agreement among all relevant parties," Wameja says Monday.
Company notes resolution of the claims will not impact the scheme consideration.
In mid-April, Wameja says average transaction value on HomeSend payment hub rises 9% quarter-on-quarter in first three months of 2021. Gross value flows across HomeSend platform up 12% quarterly and key destination markets covered up to 83 from 82.
Current stock price: 7.46 pence, up 22% Monday
Year-to-date change: up 22%
By Paul McGowan; [email protected];
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