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Wameja Limited (WJA)

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Monday 16 December, 2019

Wameja Limited

Third Tranche Capital Contribution

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 €1.8M. 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 €5.3M 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 €6.2M, with a total of approximately €17.5M 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 €9.4M (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 €1.0M 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

Tom Rowe, Company Secretary

Alison Cheek, VP Corporate Communications

 

[email protected]

finnCap Limited (Nomad and Broker)
Corporate Finance: Jonny Franklin-Adams / Anthony Adams / Hannah Boros

Corporate Broking: Tim Redfern / Richard Chambers

 

www.finnCap.com
T: +44 (0) 20 7220 0500

 

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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