HomeSend Facility Second Drawdown and Amendment

Wameja Limited ("Wameja" or the "Company")

HomeSend Facility Second Drawdown and Amendment

 28 October 2019

Wameja (LSE: WJA.L & ASX: WJA.AX), a joint venture partner with Mastercard in the HomeSend global payment hub, announces that it has today remitted €1,784,071 to HomeSend SCRL under the loan facility agreement announced on 16 May 2019. The funds were provided following the second drawdown request issued by HomeSend SCRL for a total of €5,000,000, in aggregate, from Wameja and Mastercard. This is approximately a 70% increase to the funds currently utilised by HomeSend for funding the pre-payment timing gaps in its settlement model.

The drawdown is required to support the increase in gross value flows anticipated to occur as a number of implementations of various sizes commence commercial transactions this quarter on the HomeSend global payment hub. 

In addition, the parties have agreed to reduce the term of the loan facility by 9 months, to 31 March 2020. Either party may give three months' notice of its desire to extend the term of the loan facility and the parties must negotiate the extension of the term in good faith, but there is no obligation to agree to an extension of the term beyond 31 March 2020. 

HomeSend continues to evaluate its funding requirements and the optimal solution for liquidity funding to support the business's growth into 2020 and beyond. Wameja is also independently investigating third-party facilities as an alternative to shareholder funding for HomeSend.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. The above notification is made in accordance with the requirements of the EU Market Abuse Regulation.

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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.