NEW YORK, March 30, 2022 /PRNewswire/ — Queen’s Gambit Advancement Cash (“Queen’s Gambit”) (NASDAQ: GMBT), the 1st distinctive objective acquisition enterprise led by girls, currently introduced that its shareholders voted to approve the earlier declared company mixture with Swvl Inc. (“Swvl” or the “Company”), and all other proposals offered at Queen’s Gambit’s extraordinary standard assembly of shareholders (the “Shareholders’ Meeting”) on March 30, 2022.
Queen’s Gambit strategies to file the success of the Shareholders’ Meeting, as tabulated by an impartial inspector of elections, on a Sort 8-K with the U.S. Securities and Trade Fee (the “SEC”) today.
Subject matter to the gratification or waiver of the other customary closing situations, the business enterprise mix is anticipated to near on March 31, 2022. Pursuing closing, the combined business will improve its name to “Swvl Holdings Corp.” Swvl Holdings Corp’s Course A standard shares and Swvl Keeping Corp’s warrants are anticipated to commence buying and selling on NASDAQ below the ticker symbols “GMBT” and “GMBTW”, respectively, for a person day on March 31, 2022. The next day, on April 1, 2022, Swvl Holdings Corp’s Course A regular shares and Swvl Keeping Corp’s warrants are expected to commence buying and selling on NASDAQ less than the ticker symbols “SWVL” and “SWVLW”, respectively.
About Queen’s Gambit
Queen’s Gambit is a female-led distinctive purpose acquisition enterprise, shaped for the intent of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or related business enterprise blend. Led by Founder & Main Government Officer, Victoria Grace, Queen’s Gambit has targeted its research on figuring out a target that is shaping the foreseeable future of its sector by delivering disruptive remedies that endorse sustainable development, financial growth and prosperity.
Swvl is a world-wide provider of transformative tech-enabled mass transit remedies, supplying intercity, intracity, B2B and B2G transportation throughout additional than 100 metropolitan areas in about 20 countries. The Company’s system gives complimentary semi-non-public solutions to public transportation for persons who are not able to entry or afford to pay for personal alternatives. Each individual working day, Swvl’s parallel mass transit devices are empowering people to go where they want, when they want – earning mobility safer, much more efficient, obtainable, and environmentally pleasant. Clients can e-book their rides on an straightforward-to-use proprietary application with diversified payment options and 24 / 7 access to superior-excellent private buses and vans.
Swvl was co-launched by Mostafa Kandil, who launched Carmudi in the Philippines, which turned the biggest motor vehicle classifieds system in the nation in just six months. He then served as Rocket Internet’s Head of Functions. In 2016, Kandil joined Careem, a trip-sharing business and the to start with unicorn in the Center East, where he released providers in many new marketplaces.
For more information and facts about Swvl, please visit www.swvl.com.
Particular statements designed herein are not historic information but are ahead-looking statements. Ahead-on the lookout statements generally are accompanied by phrases these as “believe,” “may well,” “will,” “estimate,” “carry on,” “anticipate,” “intend,” “hope,” “must,” “would,” “plan,” “forecast,” “prospective,” “appear to be,” “look for,” “upcoming,” “outlook” and related expressions that predict or show future situations or developments or that are not statements of historical issues. These forward-seeking statements include things like, but are not restricted to, statements pertaining to foreseeable future events, the proposed business combination amongst Swvl, Pivotal Holdings Corp (“Pivotal”) and Queen’s Gambit, the believed or predicted potential success and added benefits of the put together company following the enterprise blend, which includes the probability and capability of the events to properly consummate the organization combination, future opportunities for the combined firm and other statements that are not historic information.
These statements are primarily based on the existing anticipations of Swvl and/or Queen’s Gambit’s administration and are not predictions of real performance. These ahead-on the lookout statements are provided for illustrative reasons only and are not supposed to provide as, and will have to not be relied on, by any trader as a ensure, an assurance, a prediction or a definitive statement of actuality or likelihood. Actual functions and instances are difficult or unattainable to forecast and will vary from assumptions. Quite a few true activities and conditions are further than the regulate of Swvl and Queen’s Gambit. These statements are topic to a amount of threats and uncertainties relating to Swvl’s enterprise and the enterprise mix, and actual effects may differ materially. These threats and uncertainties involve, but are not confined to: typical economic, political and organization conditions, like but not restricted to the economic and operational disruptions and other results of the COVID-19 pandemic the lack of ability of the functions to consummate the organization mixture or the prevalence of any event, alter or other instances that could give rise to the termination of the business mixture arrangement the number of redemption requests produced by Queen’s Gambit’s shareholders in connection with the small business mixture the result of any legal proceedings that may possibly be instituted against the functions pursuing the consummation of the company mix failure to realize the predicted rewards of the business mix such as as a final result of a hold off in consummating the probable transaction or following the consummation of the organization combination selected pitfalls that may later occur as a consequence of the limited time Queen’s Gambit experienced to conduct thanks diligence the danger that the organization mixture disrupts recent ideas and functions as a final result of the consummation of the small business mix the capacity of the put together corporation to execute its progress technique, control advancement profitably and keep its vital personnel competitiveness with other providers in the mobility market Swvl’s restricted working history and lack of encounter as a general public organization the latest implementation of certain guidelines and treatments to be certain compliance with applicable guidelines and restrictions, together with with respect to anti-bribery, anti-corruption, and cyber defense the threat that Swvl is not in a position to execute its advancement strategy, which relies upon on speedy, international enlargement the chance that Swvl is unable to catch the attention of and retain shoppers and qualified drivers and other significant high quality staff the hazard that Swvl is unable to secure and enforce its intellectual assets rights the chance that Swvl is unable to decide rider demand from customers to build new choices on its system the difficulty of getting demanded registrations, licenses, permits or approvals in jurisdictions in which Swvl at present operates or may possibly in the foreseeable future operate the truth that Swvl presently operates in and intends to develop into jurisdictions that are, or have been, characterised by political instability, may well have insufficient or restricted regulatory and authorized frameworks and might have confined, if any, treaties or other arrangements in position to defend overseas financial investment or involvement the risk that Swvl’s drivers could be labeled as workforce, workers or quasi-workers in the jurisdictions they operate the truth that Swvl has operations in countries known to practical experience large ranges of corruption and is subject matter to territorial anti-corruption guidelines in these jurisdictions the means of Holdings to obtain or keep the listing of its securities on a U.S. national securities trade adhering to the small business blend expenses associated to the business blend Swvl’s acquisitions of managing passions in Shotl Transportation, S.L., Viapool Inc. and door2door GmbH may possibly not be valuable to Swvl as a outcome of the expense of integrating geographically disparate functions and the diversion of management’s notice from its present business enterprise, among the other factors and other threats that will be specific from time to time in filings with the SEC. The foregoing list of hazard aspects is not exhaustive. There may possibly be extra dangers that Swvl presently does not know or that Swvl at the moment thinks are immaterial that could also bring about true effects to vary from individuals contained in ahead-hunting statements. In addition, forward-searching statements provide Swvl’s anticipations, programs or forecasts of potential occasions and sights as of the date of this interaction. Swvl anticipates that subsequent functions and developments will cause Swvl’s assessments and projections to change. Nonetheless, when Swvl might elect to update these forward-searching statements in the foreseeable future, Swvl particularly disclaims any obligation to do so. These ahead-searching statements should not be relied upon as symbolizing Swvl’s assessments as of any day subsequent to the date of this interaction. Accordingly, undue reliance need to not be placed on the ahead-looking statements.
Media Speak to
Trader Get in touch with
View primary content material to obtain multimedia:https://www.prnewswire.com/information-releases/queens-gambit-advancement-capital-announces-shareholder-approval-of-enterprise-combination-with-swvl-301513945.html
Supply Swvl Inc.