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MySQUAR investor buys hefty chunk of shares through open market

Imperium was an investor in the second tranche of MySQUAR’s recent £2mln funding
picture of MySquar platform
Imperium has bought two chunks of shares recently

MySQUAR Limited (LON:MYSQ) has seen one of the investors in its recent £2mln placing buy another chunk of shares, but this time through the open market.

Imperium Ltd purchased a further 30mln shares or 7.6% of the Myanmar-focused social media group.

It was also an investor in the second tranche of MySQUAR’s recent £2mln funding that replaced a convertible loan with financier Sandabel.

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Shares in the placing were issued at 0.85p per share, but were trading today at 1.4p.

At the time of the placing, on 10 April, Eric Schaer, MySQUAR’s chief executive, said the funding would support its rapid sales growth.

Deals recently have included a payments relationship for its mobile games with local telecoms group Telenor Myanmar.

MySQUAR has also released a gaming platform, Lucky Wingabar ,and is starting to monitise its internet telephony services and core social media media forum MyChat, said Schaer.

“This foundation will provide for solid growth on a go forward basis while at the same time positioning the company for long term profitability starting in the second half of this calendar year.”

Shares rose 3.7% to 1.4p.

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