StockMarketWire.com - Wameja said its HomeSend payments joint venture with Mastercard was continuing to evaluate its funding requirements.

Wameja said it had remitted €1.78m to HomeSend SCRL under a loan facility agreement announced on 16 May.

The funds were provided following a second drawdown request issued by HomeSend SCRL for a total of €5m, in aggregate, from Wameja and Mastercard.

The drawdown was required to support an increase in gross value flows anticipated to occur as a number of implementations of various sizes commence commercial transactions this quarter.

The parties had also agreed to reduce the term of the loan facility by nine months, to 31 March 2020.

'Either party may give three months' notice of its desire to extend the term of the loan facility and the parties must negotiate the extension of the term in good faith, but there is no obligation to agree to an extension of the term beyond 31 March 2020,' Wameja said.

'HomeSend continues to evaluate its funding requirements and the optimal solution for liquidity funding to support the business's growth into 2020 and beyond,' it added.

'Wameja is also independently investigating third-party facilities as an alternative to shareholder funding for HomeSend.'

At 8:00am: [LON:WJA] share price was 0p at 7.35p



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