RC365 Holding PLC Notice of Acquisitions and RPT (4462Q)
June 28 2022 - 5:08AM
UK Regulatory
TIDMRCGH
RNS Number : 4462Q
RC365 Holding PLC
28 June 2022
28(th) June 2022
RC365 Holding Plc
("RC365" or the "Company")
Notice of Acquisitions and Related Party Transactions
RC365 Holding Plc ("RC365"), a company focusing on payment
gateway solutions and IT support and security services, is pleased
to announce that it has completed the acquisition of the entire
issued share capital of RCPAY Ltd (UK), subject to FCA approval,
RCPAY Limited (Hong Kong) and Regal Crown Technology (Singapore)
Pte Ltd. The consideration payable was GBP1 per acquisition. These
acquisitions will offer growth opportunities for RC365 by expanding
into the UK, Hong Kong, Singapore and other ASEAN countries and
providing cross border payment solutions around the world. The UK
and Hong Kong companies will also provide money remittance and
exchange services and have obtained the relevant license from the
regulatory authorises being Custom and Excise Department in Hong
Kong and the Financial Conduct Authority in the UK.
The Board believes that these acquisitions will strengthen the
Company's position within the fast growing and attractive market in
which it operates.
Transactions overview:
-- The acquisition of the entire issued share capital of RCPay
Ltd, a company incorporated in England and Wales with a registered
address of 58 Coatsworth Road, Gateshead, Tyne And Wear, England,
NE8 1QN from Law Chi Kit, a director of RC365 and is therefore
deemed to be a related party transaction, for total consideration
of GBP1. This transaction is subject to FCA approval.
-- The acquisition of the entire issued share capital of RCPay
Ltd (Hong Kong), a company incorporated in Hong Kong with a
registered address of Room I, 17/F, MG Tower, 133 Hoi Bun Road,
Kwun Tong, Hong Kong from Law Chi Kit, a director of RC365 and is
therefore deemed to be a related party transaction, for total
consideration of GBP1.
-- The acquisition of the entire issued share capital of Regal
Crown Technology (Singapore) Pte Ltd a company incorporated in
Singapore with a registered address of 114 Lavender Street, #11-88,
CT HUB 2, Singapore 338729 from Low Li Lian, for total
consideration of GBP1. Law Chi Kit is a director of Regal Crown
Technology (Singapore) Pte Ltd and therefore this is deemed to be a
related party transaction.
For further information please contact:
RC365 Holding plc T: +852 2251 1621
Chi Kit LAW, Chief Executive Officer E: ir@rc365plc.com
Guild Financial Advisory Limited - T: +44 (0)7973 839767
Financial Adviser E: ross.andrews@guildfin.co.uk
R oss Andrews
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END
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