TIDMWJA

RNS Number : 9064W

Wameja Limited

16 December 2019

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

Third Tranche Capital Contribution

16 December 2019

Wameja (LSE: WJA.L & ASX: WJA.AX), a joint venture partner with Mastercard in the HomeSend global payment hub, advises that it has today subscribed for additional ordinary and preferred shares in the capital of HomeSend SCRL for a total of approximately EUR1.8M. Mastercard subscribed for its proportionate number of shares in the capital of HomeSend SCRL so as to maintain the percentage shareholdings of Mastercard and Wameja in HomeSend SCRL at 64.32% and 35.68% respectively, providing a total of approximately EUR5.3M in additional capital to HomeSend.

This capital contribution, together with the capital contributions announced on 29 November 2018 and 16 May 2019, brings Wameja's capital contribution over the last 12 months to HomeSend to a total of approximately EUR6.2M, with a total of approximately EUR17.5M having been subscribed for between Mastercard and Wameja.

The funds have been provided to support operational expenses. With a focus on expanding its network and platform capabilities, HomeSend incurred costs of approximately EUR9.4M (78% of total expenses)* during the last 12 months in the areas of network development, regulatory licensing and improving service offerings, including FX capability. Approximately EUR1.0M is retained to ensure HomeSend meets its minimum capital requirements as required under its payment institution licence.

*Based on unaudited financial records.

For further information, please contact:

 
 Wameja Limited                                       www.wameja.com 
 John Conoley, Executive Chairman                     investors@wameja.com 
  Tom Rowe, Company Secretary 
  Alison Cheek, VP Corporate Communications 
 finnCap Limited (Nomad and Broker)                   www.finnCap.com 
  Corporate Finance: Jonny Franklin-Adams /            T: +44 (0) 20 7220 
  Anthony Adams / Hannah Boros                         0500 
  Corporate Broking: Tim Redfern / Richard Chambers 
 

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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December 16, 2019 02:00 ET (07:00 GMT)

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