Mi Pay : Result of General Meeting

27 January 2020

Mi-Pay Group plc

('Mi-Pay' or the 'Company')

Result of General Meeting

Completion of disposal of Mi-Pay Limited

Cancellation of admission to trading on AIM

Mi-Pay (AIM: MPAY) announces that at its general meeting held earlier today, all resolutions were duly passed. Accordingly, as set out in the Company's circular dated 23 December 2019 (the 'Circular'), the disposal of Mi-Pay Limited to AlphaComm B.V. (the 'Disposal') and the cancellation of admission of the Company's ordinary shares to trading on AIM (the 'Cancellation'), have been approved.

The Company confirms that the Disposal has now completed. The last day of dealings in the Company's ordinary shares on AIM will be 3 February 2020 and Cancellation will become effective at 7.00 a.m. on 4 February 2020. Further details of the Disposal and Cancellation are set out in the Circular referred to above.

Consequently, as set out in the Circular, the Company will proceed with the second general meeting, which has been convened for 4 February 2020, to consider resolutions to effect a members' voluntary liquidation of the Company ('Liquidation'). If these resolutions are passed, the Company will immediately appoint joint liquidators and commence the Liquidation process. Further details on the Liquidation are set out in the Circular referred to above.

Further announcements will be made in due course.

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