The Board of Directors of MPay is pleased to announce that ManagePay Services Sdn. Bhd. (“MPSB”), a wholly-owned subsidiary of the Company had on 30 June 2021 submitted an application for a digital banking licence (“Application”) to Bank Negara Malaysia. The Application is supported by three (3) local strategic partners ("Strategic Partners").
All three (3) Strategic Partners are bumiputera-controlled entities and have expressed their interest to invest up to 45% in aggregate in the equity of MPSB in the event the Application is successful and subject to regulatory’s prior approval.
A formal agreement shall only be executed upon a date to be agreed between the Strategic Partners and the Company in the event the Application is successful.
The Application will not have any effect on the issued share capital and shareholdings of the substantial shareholders of the Company. The Application is not expected to have any material effect on the net assets, earnings and gearing of the Company and its subsidiaries (“Group”) for the financial year ending 31 December 2021.
None of the Directors and/or major shareholders of MPay and/or persons connected with them have any interests, direct or indirect, in the Application.
Having considered all aspects of the Application, the Board of Directors of the Company is of the view that the Application is in the best interests of the Group.
Further announcement will be made of any material development as and when appropriate.
"MPay is excited to announce our digital bank licence application is supported by three (3) three strategic partners - Trustgate Berhad, Crescent Capital Sdn. Bhd. and RichWorks International Sdn Bhd. These partners will each bring a unique value proposition to complement our proposed digital banking services to the undeserved and inadequately served micro, small and medium enterprises (MSMEs) and the communities they serve," said MPay's founder and group managing director Dato’ Chew Chee Seng.
We refer to the previous announcements made in relation to the Private Placement (“Announcements”). For consistency purposes, the abbreviations used in this announcement are the same as those previously defined in the Announcements unless otherwise defined herein.
On behalf of the Board, Mercury Securities wishes to announce that the Board had, on 1 July 2021 (“Price Fixing Date”), fixed the issue price at RM0.28 per Placement Share (“Issue Price”) for the 4th tranche placement comprising of 45,000,000 Placement Shares.
The Issue represents a premium of 14.75% to the 5-day VWAMP of the Shares up to and including 30 June 2021, being the last trading day immediately prior to the Price Fixing Date, of RM0.244 per Share.
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cavalera
34 posts
Posted by cavalera > 2021-06-23 11:17 | Report Abuse
azizan is not elon musk ... but he is azizan mask .... hehe