31st May 2016 10:33
LONDON (Alliance News) - MoneySwap PLC, an AIM-listed payments company, on Tuesday said it has drawn down a further USD80,000 under its loan facility from Changsha Zhangdian Investment Company Ltd.
The drawdown means the company has now drawn down USD160,000 available under the facility from the lender and it is anticipated that the remaining USD40,000 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," MoneySwap said in a statement.
Shares in MoneySwap were untraded on Tuesday, having closed at 0.22 pence Friday.
By Samuel Agini; [email protected]; @samuelagini
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