Wameja shares rise as settlement deal proceeds
By Josh White
Date: Monday 21 Jun 2021
(Sharecast News) - Wameja, a joint venture partner of Mastercard in the 'HomeSend' global payments service, said on Monday that the settlement agreement it announced on 18 June had now been executed by all parties.
The AIM-traded firm said the agreement resolved the potential indemnity claims it disclosed in October and November.
That included the potential for further claims against Wameja under the relevant indemnity granted to Seamless Distribution Systems in the agreement for the sale of Wameja's core business, that completed in July 2019.
"Wameja and Burst Acquisition, a company controlled by Mastercard, will now proceed with the scheme of arrangement proposed under the scheme implementation agreement as announced on 10 September, and amended on 9 April, 24 May and 18 June," the board said in its statement.
"Wameja anticipates lodging the scheme booklet with the Australian Securities and Investments Commission (ASIC) for ASIC's review and comment on or about 2 July, and will provide an indicative timetable for the scheme at the time of lodgment."
At 1012 BST, shares in Wameja were up 2.15% at 7.61p.
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