DigiAsia Corp. Enters Definitive Agreements for Proposed Transaction with PayMate India Limited

DigiAsia Corp. has entered into definitive agreements for a multi-step transaction with PayMate India Limited. The agreement involves the sale of DigiAsia Corp.'s wholly-owned subsidiary, DigiAsia Bios Pte Ltd, to Brainstorm Consulting Private Limited, a subsidiary of PayMate. The transaction will occur in two closings. In the first closing, DigiAsia Corp. will sell 100% of DigiAsia Bios to the Purchaser in exchange for equity consideration, with the Purchaser issuing approximately 99.60% of its shares to DigiAsia Corp. In the second closing, DigiAsia Corp. will sell all its shares in the Purchaser to PayMate, and PayMate will issue approximately 49% of its shares to DigiAsia Corp. The transaction is subject to various conditions, including funding, regulatory approvals, and shareholder approval from DigiAsia Corp. The parties have also entered into a Coordination Deed and a Letter Agreement to govern the transaction. The Letter Agreement stipulates that PayMate or its subsidiaries will invest in DigiAsia Bios after the second closing to strengthen its balance sheet and for other operational purposes. The Company has included forward-looking statements regarding the transaction, cautioning that actual results may differ due to various risks and uncertainties.