QUEEN’S GAMBIT GROWTH CAPITAL ANNOUNCES SHAREHOLDER APPROVAL OF BUSINESS COMBINATION WITH SWVL

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NEW YORK, March 30, 2022 /PRNewswire/ — Queen’s Gambit Expansion Money (“Queen’s Gambit”) (NASDAQ: GMBT), the initially specific objective acquisition company led by women, currently declared that its shareholders voted to approve the earlier declared organization combination with Swvl Inc. (“Swvl” or the “Business”), and all other proposals presented at Queen’s Gambit’s amazing standard conference of shareholders (the “Shareholders’ Assembly”) on March 30, 2022.

Queen’s Gambit plans to file the results of the Shareholders’ Meeting, as tabulated by an unbiased inspector of elections, on a Form 8-K with the U.S. Securities and Trade Commission (the “SEC”) today.

Subject matter to the pleasure or waiver of the other customary closing disorders, the enterprise blend is envisioned to close on March 31, 2022. Subsequent closing, the put together enterprise will alter its title to “Swvl Holdings Corp.” Swvl Holdings Corp’s Course A ordinary shares and Swvl Keeping Corp’s warrants are anticipated to begin buying and selling on NASDAQ less than the ticker symbols “GMBT” and “GMBTW”, respectively, for 1 day on March 31, 2022. The upcoming day, on April 1, 2022, Swvl Holdings Corp’s Class A ordinary shares and Swvl Holding Corp’s warrants are predicted to begin trading on NASDAQ below the ticker symbols “SWVL” and “SWVLW”, respectively.

About Queen’s Gambit

Queen’s Gambit is a female-led specific function acquisition organization, fashioned for the reason of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or equivalent company mix. Led by Founder & Main Government Officer, Victoria Grace, Queen’s Gambit has centered its search on pinpointing a goal that is shaping the upcoming of its sector by furnishing disruptive solutions that encourage sustainable improvement, financial advancement and prosperity.

About Swvl

Swvl is a worldwide company of transformative tech-enabled mass transit solutions, providing intercity, intracity, B2B and B2G transportation across far more than 100 towns in in excess of 20 nations. The Firm’s system presents complimentary semi-non-public choices to community transportation for people today who can not access or manage private alternatives. Every single day, Swvl’s parallel mass transit devices are empowering people today to go where by they want, when they want – building mobility safer, a lot more effective, accessible, and environmentally helpful. Shoppers can book their rides on an simple-to-use proprietary app with diversified payment selections and 24 / 7 access to high-good quality personal buses and vans.

Swvl was co-established by Mostafa Kandil, who released Carmudi in the Philippines, which grew to become the largest auto classifieds system in the state in just six months. He then served as Rocket Internet’s Head of Functions. In 2016, Kandil joined Careem, a experience-sharing enterprise and the first unicorn in the Middle East, the place he released providers in many new marketplaces.

For extra info about Swvl, remember to pay a visit to www.swvl.com.

Forward-Searching Statements

Particular statements manufactured herein are not historical info but are forward-wanting statements. Forward-seeking statements commonly are accompanied by words this sort of as “consider,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “be expecting,” “really should,” “would,” “approach,” “predict,” “probable,” “feel,” “find,” “foreseeable future,” “outlook” and related expressions that predict or indicate long run situations or traits or that are not statements of historic matters. These ahead-hunting statements involve, but are not restricted to, statements concerning future activities, the proposed business enterprise combination amongst Swvl, Pivotal Holdings Corp (“Pivotal”) and Queen’s Gambit, the believed or anticipated long term results and added benefits of the put together company pursuing the organization mix, like the likelihood and ability of the functions to efficiently consummate the company combination, long run chances for the combined organization and other statements that are not historical facts.

These statements are dependent on the recent expectations of Swvl and/or Queen’s Gambit’s management and are not predictions of precise overall performance. These ahead-searching statements are furnished for illustrative functions only and are not meant to serve as, and need to not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of actuality or likelihood. Actual events and situation are difficult or not possible to predict and will differ from assumptions. Several actual occasions and conditions are outside of the regulate of Swvl and Queen’s Gambit. These statements are matter to a quantity of challenges and uncertainties regarding Swvl’s organization and the business enterprise mixture, and actual results might vary materially. These hazards and uncertainties consist of, but are not minimal to: normal economic, political and organization circumstances, together with but not limited to the financial and operational disruptions and other results of the COVID-19 pandemic the lack of ability of the functions to consummate the small business mixture or the prevalence of any occasion, transform or other situation that could give rise to the termination of the business enterprise blend agreement the number of redemption requests manufactured by Queen’s Gambit’s shareholders in connection with the business mix the final result of any authorized proceedings that could be instituted from the parties following the consummation of the enterprise mix failure to comprehend the anticipated gains of the enterprise mix which include as a end result of a delay in consummating the prospective transaction or just after the consummation of the business mix specific risks that may later on crop up as a consequence of the restricted time Queen’s Gambit experienced to perform because of diligence the threat that the business enterprise combination disrupts recent plans and operations as a outcome of the consummation of the enterprise blend the capacity of the merged enterprise to execute its growth tactic, deal with expansion profitably and retain its important staff levels of competition with other corporations in the mobility industry Swvl’s restricted functioning history and absence of experience as a community firm modern implementation of particular procedures and processes to assure compliance with applicable legislation and restrictions, like with regard to anti-bribery, anti-corruption, and cyber security the chance that Swvl is not in a position to execute its progress system, which depends on speedy, international expansion the possibility that Swvl is not able to attract and keep buyers and experienced drivers and other large excellent staff the possibility that Swvl is unable to defend and enforce its mental property legal rights the threat that Swvl is unable to establish rider demand from customers to produce new choices on its system the difficulty of acquiring necessary registrations, licenses, permits or approvals in jurisdictions in which Swvl presently operates or may well in the potential run the simple fact that Swvl currently operates in and intends to broaden into jurisdictions that are, or have been, characterised by political instability, may have inadequate or minimal regulatory and lawful frameworks and may well have confined, if any, treaties or other preparations in put to safeguard foreign financial commitment or involvement the threat that Swvl’s drivers could be labeled as staff, personnel or quasi-personnel in the jurisdictions they operate the fact that Swvl has operations in countries recognized to practical experience significant ranges of corruption and is subject to territorial anti-corruption regulations in these jurisdictions the capacity of Holdings to get hold of or sustain the listing of its securities on a U.S. countrywide securities trade next the enterprise combination expenditures associated to the organization mix Swvl’s acquisitions of controlling passions in Shotl Transportation, S.L., Viapool Inc. and doorway2door GmbH may possibly not be advantageous to Swvl as a end result of the price tag of integrating geographically disparate functions and the diversion of management’s focus from its present business, among the other items and other risks that will be in depth from time to time in filings with the SEC. The foregoing record of possibility variables is not exhaustive. There may perhaps be supplemental risks that Swvl presently does not know or that Swvl at this time believes are immaterial that could also trigger actual effects to differ from all those contained in ahead-hunting statements. In addition, forward-wanting statements offer Swvl’s expectations, designs or forecasts of long run occasions and views as of the date of this communication. Swvl anticipates that subsequent occasions and developments will bring about Swvl’s assessments and projections to adjust. Even so, whilst Swvl may perhaps elect to update these forward-searching statements in the future, Swvl specifically disclaims any obligation to do so. These forward-hunting statements should really not be relied upon as symbolizing Swvl’s assessments as of any day subsequent to the date of this communication. Accordingly, undue reliance need to not be positioned upon the forward-hunting statements.

Media Get hold of

Daniel Yunger
Kekst CNC
[email protected]
917-574-8582

Investor Contact

Youssef Salem
Swvl CFO
[email protected]