Brief: Moneyme Clarifies Media Article On Potential Deal

Moneyme

31/10/2022 06:29

Oct 31 (Reuters) - Moneyme Ltd  MME.AX :
    * REFERS TO MEDIA ARTICLE ON POTENTIAL DEAL
    * INITIATED PROCESS TO IDENTIFY ALTERNATIVE CAPITAL
SOLUTIONS TO
PRIMARILY FUND GROWTH PLAN FOR ITS AUTOPAY PRODUCT
    * PROCESS IS AT PRELIMINARY STAGE AND NO SPECIFIC
TRANSACTION IS
BEING NEGOTIATED
    * HAS ENGAGED AN INVESTMENT BANK TO ASSIST WITH GROWTH
CAPITAL
STRATEGY
    * NO CERTAINTY THAT ANY TRANSACTION WILL EVENTUATE
    * SAYS MEDIA REPORT THAT MONEYME HAS VIRTUALLY STOPPED
LENDING AS
RESULT OF BORROWING COSTS MAKING BUSINESS UNECONOMICAL IS NOT
CORRECT

Source text for Eikon:  ID:nASX8slMmg 
Further company coverage:  MME.AX 
 ((Reuters.Briefs@thomsonreuters.com;))