Luxembourg city (pta027/12.02.2021/15:30) - Update by MyBucks S.A. on the disposal of MyBucks Mozambique ("MBC"), the results of the EGM held on 12 February 2021 and update on Forensic investigation into VSS Financial Services (Pty) Ltd ("VSS"):
* Shareholders vote in favour of delisting from the Frankfurt Stock Exchange;
* The Bank of Mozambique approves the disposal of MyBucks S.A.'s stake in MBC; and
* Forensic investigation into VSS Financial Services (Pty) Ltd, a subsidiary of MyBucks S.A.
1. Shareholders voted to delist from the Frankfurt Stock Exchange at an general meeting ("EGM") on 12 February 2021
The Company is pleased to advise that Shareholders voted in favor of all resolutions of the Company at the EGM held on 12th February 2021. As a result, the Company will commence the process of delisting from the Frankfurt Stock Exchange.
The EGM of Frankfurt-listed FinTech MyBucks S.A. ("Company") today resolved to terminate the inclusion of the shares of the Company (ISIN: LU1404975507 | WKN: A2AJLT) ("Shares") in the Regulated Unofficial Market (Freiverkehr) on Frankfurt Stock Exchange (Scale Segment).
Therefore, the Board will submit a notice of termination to Deutsche Börse AG ("DBAG") today. Pursuant to the General Terms and Conditions of DBAG for the Regulated Unofficial Market (Freiverkehr) on Frankfurt Stock Exchange, the period until the termination becomes effective is three months. It must be assumed that the Frankfurt Stock Exchange will cease trading the Shares immediately following the expiry of the notice period. As a result of this, the Company anticipates that the other stock exchanges on which the Shares are traded will also cease trading the Shares.
The results of the resolutions passed at the EGM are included in the attachment
2. The Bank of Mozambique approves the disposal of MyBucks S.A.'s stake in MBC
Frankfurt-listed group MyBucks S.A. ("the Company") is pleased to announce today that it has received approval from the Bank of Mozambique for the disposal of the Company's 96.5% shareholding in MBC to Xtenda Financial Holdings Limited. The proceeds of approximately EUR 11.3 million will be fully applied to the settlement of third parties.
3. Forensic investigation into VSS
The Board of MyBucks S.A. instituted a forensic investigation into the dealings of VSS, a wholly owned subsidiary of MyBucks S.A. registered in South Africa, which is now in the process of liquidation. MyBucks S.A. has recently received the forensic report from Kahamelo Forensic Services. The findings justify, in the opinion of the Board, that MyBucks S.A. should, together with other affected parties and stakeholders, consolidate their resources to bring justice to bear and to seek rectification from those individuals that the report clearly identifies as having prejudiced VSS and its stakeholders.
MyBucks S.A. believes that certain former directors and executives, as well as certain service providers, should answer for the clear lack of corporate governance, as well as financial mismanagement, accounting irregularities and failure to act in the best interests of the company and its stakeholders. MyBucks S.A.'s controlling shareholder, Afristrat Investment Holdings Limited, has agreed to collaborate in the process.
MyBucks S.A. is a FinTech company domiciled in Luxembourg that delivers financial services through technology. MyBucks operates four Banks in Africa. The Group offers credit, banking solutions and insurance products to customers. The MyBucks product offering enables customers to manage their financial affairs easily and conveniently. Discover more at www.mybucks.com
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This publication does not constitute an offer of securities for sale or a solicitation of an offer to purchase or subscribe securities of MyBucks S.A. in the United States, Germany or any other jurisdiction.
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Subject to certain exceptions under applicable securities laws, the securities referred to in this publication may not be offered or sold in Canada, Australia or Japan or to, or for the account or benefit of, any national, resident or citizen of Canada, Australia or Japan.
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This publication contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of MyBucks S.A. and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those described herein due to factors affecting MyBucks S.A. such as, among other things, changes in the general economic and competitive environment, capital market risks, currency exchange rate fluctuations and competition from other companies, and changes in international and national laws and regulations, in particular with respect to tax laws and regulations. MyBucks S.A. does not assume any obligation to update any forward-looking statements.
The information contained in this publication is for background purposes only and does not purport to be full or complete. No reliance may be placed, for any purpose, on the information contained in this publication or its accuracy or completeness. The information in this publication is subject to change.
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