1st Jul 2015 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT
MySQUAR Limited / Index: AIM / TIDM: MYSQ / Sector: Technology
1 July 2015
MySQUAR Limited ("MySQUAR" or the "Company")
Admission and First Day of Dealings on AIM
MySQUAR Limited, whose principal activity is to design, develop and commercialise Myanmar-focused internet-based and mobile services, mobile messaging applications, including social networks, digital content, mobile games and to extend functionality to include in-app advertising, news aggregation, transaction-based monetisation and ecommerce, is pleased to announce the admission ("Admission") today of its issued share capital to trading on AIM. This follows the completion of a placing ("Placing") of 16,776,680 new Shares to raise approximately £1.67 million (before expenses). The total number of Shares in issue at Admission is 184,615,189 Shares giving the Company a market capitalisation of approximately £18.5 million on Admission at the Placing Price of 10 pence per share. Dealings in the Company's share capital will commence at 8.00 a.m. today with the TIDM MYSQ.
Commenting on the AIM admission of MySQUAR CEO Eric Schaer said,
"We are delighted to be able to join London's AIM market. MySQUAR's vision is to connect the people of Myanmar after almost 50 years of isolation. The Company sees its mission as inspiring creativity, entertainment and a better standard of living in Myanmar by offering world class consumer technology solutions. MySQUAR is now at the forefront of the country's technological revolution and the success of the AIM flotation will send a powerful, positive signal to the country's entrepreneurs and to inward-investors alike."
SP Angel Corporate Finance LLP is acting as nominated adviser to the Company and Beaufort Securities Limited is acting as broker to the Company.
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For further information:
MySQUAR Limited |
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Eric Schaer (Chief Executive) | Tel: +65 6818 6089 |
Pham Dang Hung (CFO) |
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SP Angel Corporate Finance LLP |
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Nominated Adviser | Tel: +44 (0) 203 470 0470 |
Stuart Gledhill Jeff Keating
Beaufort Securities Limited Broker Jon Levinson Elliot Hance |
Tel: +44 (0) 207 382 8300 |
Public Relations Damien McCrystal |
Tel: +44 (0) 7816 770 758 |
Defined terms used in this announcement not otherwise defined have the same meaning as set out in the Company's Admission Document dated 29 June 2015, (available on the Company's website: http://investors.mysquar.com ).
Notes to Editors
Directors
Eric Alfred Schaer, Chief Executive, aged 50
Mr Schaer serves as the chairman and CEO of Rising Dragon Singapore Pte Ltd. Rising Dragon Singapore Pte Ltd is a private investment firm with holdings in technology, e-payments, real estate, and mining. It focuses exclusively on investments in Asia. Previously, he has consulted for various companies and investment groups specialising in structuring various debt and equity investments. These have included arranging financing for various corporate and private acquisitions and refinancings. Mr Schaer has consulted on several successful acquisitions, including turnarounds of distressed businesses. This has included financing and acquisitions of software services and development firms, and both domestic and "near-shore" technology outsourcing businesses.
Pham Dang Hung, Chief Financial Officer, aged 39
Mr Pham has over 15 years of working experience in the private equity investment, financial advisory and corporate operations. He was a director in charge of private equity investments at Rising Dragon Holdings. Before that, Mr Pham worked for Saigon Asset Management, a Vietnam-based investment fund management company with US$150 million in assets under management, as director responsible for the investment banking division. Prior to joining Saigon Asset Management, Mr Pham was a founding director of ASEAN Merchant Partners, a boutique financial advisory firm where he headed the advisory division. During the period with ASEAN Merchant Partners, Mr Pham provided corporate finance and mergers and acquisitions advisory services to a number of leading Vietnamese companies and projects in the consumer and retail, distribution, hospitality property, manufacturing and agriculture sectors, successfully raising approximately US$60 million for his clients through various financial products such as corporate bonds, convertible bonds, bank debt and equity. Before that, Mr Pham worked as senior investment manager for Indochina Capital Corporation, one of the largest fund management companies in Vietnam managing over US$1 billion of funds investing in equity, real estate and infrastructure.
Mr Pham holds an MBA in finance from the Mihaylo School of Business and Economics, California
State University, Fullerton.
Ross David Marsh, Non-Executive Director, aged 48
Mr Marsh is a Chartered Accountant having graduated from the University of Western Australia with a Bachelor of Commerce. Mr Marsh has worked in chartered accounting, commercial banking, and corporate finance, and as Managing Director of an international export consulting firm. Mr Marsh has significant experience with initial public offerings and reverse takeover management particularly in London. This extends to public capital raisings and advisory services to London based companies. Mr Marsh has acted as both an executive and non-executive director for listed public companies and is currently managing director of a company specialising in managing AIM market listings.
Piers Julian Dominic Pottinger, Non-Executive Chairman, age 61
Mr Piers Pottinger co-founded Bell Pottinger Communications with Lord Bell and has been a public relations consultant for more than 35 years. He has advised clients from major corporations, governments and individuals, on an international basis. Mr Pottinger has provided counsel on many UK mergers and acquisitions, government privatisations, initial public offerings and has advised boards on corporate governance best practices. Mr Pottinger currently serves as the Chairman of Bell Pottinger Asia at Bell Pottinger Corporate & Financial Limited. Mr Pottinger has been Chairman of Asian Operations of Bell Pottinger Public Affairs Ltd since 17 June 2013 and has held numerous executive and non-executive board positions for public companies.
Important Notice
This announcement is for information purposes only and does not constitute an admission document and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any Shares in the capital of the company, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied on in connection with or act as any inducement to enter into, any contract or commitment whatsoever. In particular, this announcement is not for distribution in or into the United States of America, Canada, Japan, the Republic of South Africa or Australia. The issue of the Shares has not been, and will not be, registered under the applicable securities laws of the United States of America, Canada, Japan, the Republic of South Africa or Australia and the Shares may not be offered or sold directly or indirectly within the United States of America, Canada, Japan, the Republic of South Africa or Australia or to, or for the account or benefit of, any persons within the United States of America, Canada, Japan, the Republic of South Africa or Australia. The Shares have not been and will not be registered under the US Securities Act of 1933 and may not be offered or sold within the United States.
The distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons into whose possession this document comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
SP Angel Corporate Finance LLP ("SP Angel"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company as its nominated adviser in connection with the Placing and Admission and will not be acting for any other person or otherwise be responsible to any person for providing the protections afforded to customers of SP Angel or for advising any other person in respect of the Placing and Admission. SP Angel's responsibilities as the Company's nominated adviser under the AIM Rules for Companies and the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or to any Director or to any other person in respect of such person's decision to acquire Shares in the Company in reliance on any part of this announcement.
Beaufort Securities Limited ("Beaufort"), which is a member of the London Stock Exchange and is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company as sole broker (for the purposes of the AIM Rules for Companies) in connection with the Placing and Admission and will not be acting for any other person or otherwise be responsible to any person for providing the protections afforded to customers of Beaufort or for advising any other person in respect of the Placing and Admission. The information contained in this announcement has been prepared solely for the purposes of the Placing and Admission and is not intended to inform or be relied upon by any subsequent purchasers of Shares (whether on or off market) and accordingly no duty of care is accepted in relation to them.
No person has been authorised to give any information or to make any representation about the Company and about matters the subject of this announcement other than those contained in this announcement. If any such information or representation is made or given then it must not be relied upon as having been so authorised. The delivery of this announcement shall not imply that no change has occurred in the Company's affairs since the date of issue of this announcement or that the information in this announcement is correct as at any time after the date of this announcement, save as shall be required to be updated by law or regulation.
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Related Shares:
Mysquar