MyBucks S.A. Releases Audited Financial Statements
Luxembourg, December 17th, 2019 – Frankfurt-listed fintech and African banking group MyBucks S.A (the “Company” or the “Group”) today has published its Audited Financial Statements for the period ending 30 June 2019 in line with the numbers previously released. In comparison to the preliminary financial information as published in November 2019, the final audited figures record a slight improvement in the Group’s equity attributable to parent of c. EUR42.9m, predominantly resulting from the final exchange rates applied for the conversion of the Zimbabwean operation. Pro forma equity attributable to parent following the Group’s successful Debt Recapitalization remains at c. EUR17.6m.
As a result of the Debt Recapitalization, the debt has reduced from c. EUR108m to c. EUR39m at holding company level (net of financial assets). The Company continues its effort to increase its equity and reduce this debt further through asset disposals and debt conversions. The Group still expects to record a loss for the period ending 31 December 2019, as a result of the Debt Recapitalization only being effective towards the end of November 2019. The Company expects to be able to engage on the proposed rights offer in 2020 at a ratio of at least 5 new shares per every 1 share currently owned to compensate shareholders for the dilutive effect of the Debt Recapitalisation, on the basis of Audited Financial Statements for the period ending 31 December 2019.
MyBucks has further confirmed its Annual General Meeting for the 31st of January 2020, and will send out official notices in due course. ENDS About MyBucks MyBucks S.A. is a FinTech company domiciled in Luxembourg that delivers financial services through technology. MyBucks operates in six African countries through its brands GetBucks, GetSure, MBC, and Opportunity Bank. 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 http://www.mybucks.com