eServGlobal Limited Agreement to Issue Shares (1776W)
December 23 2013 - 2:00AM
UK Regulatory
TIDMESG
RNS Number : 1776W
eServGlobal Limited
23 December 2013
eServGlobal Limited (eServGlobal or the "Company")
eServGlobal Agreement to Issue Shares
Paris: 23 December 2013
eServGlobal (LSE: ESG & ASX: ESV), the provider of
end-to-end mobile financial services to emerging markets, announces
that it has entered into a subscription agreement with an existing
Australian institutional investor for the Company to issue
4,500,000 fully paid ordinary shares at AUD$0.75 (GBP0.41) per
share, a 3.8% discount to the closing price on the ASX on 19
December 2013 of AUD$0.78, raising AUD$3.375M (approximately
GBP1.843M). There are no fees payable on this placement.
eServGlobal is continuing to gain traction in the mobile money
space. As the company competes for larger contracts with larger
telecommunication and financial services companies the demand for
up-front performance bonds and the acceleration of specific
projects and deliverables is required.
This small capital raise (along with the proceeds from the entry
into the HomeSend JV) will allow eServGlobal to participate in
specific projects and develop opportunities arising from new and
existing partnerships.
Application will be made for the 4,500,000 shares to be admitted
to trading on the ASX and on AIM. It is expected that the shares
will be issued on 30 December 2013 (being represented by depositary
interests in CREST) and will be admitted to AIM on 30 December
2013. Following the issue, the Company's total issued share capital
will be 253,545,997 fully paid ordinary shares of no par value.
The Company does not require shareholder approval for the issue
of the shares.
About eServGlobal
eServGlobal (LSE: ESG, ASX: ESV) offers mobile money solutions
which put feature-rich mobile financial services at the fingertips
of users worldwide, covering the full spectrum of mobile wallet,
mobile commerce, recharge and agent management features.
eServGlobal invests heavily in product development, using
carrier-grade, next-generation technology and aligning with the
requirements of 65 customers in 50 countries. eServGlobal is
partnering with MasterCard and BICS to build the HomeSend joint
venture, the market leading international remittance service based
on eServGlobal technology and enabling mobile money transfer in
over 50 markets. eServGlobal has been a source of innovative
solutions for mobile and financial service providers for 30
years.
For further information, please contact:
eServGlobal www.eservglobal.com
Tom Rowe, Company Secretary T: +61 2 8014 5050
investors@eservglobal.com
Cenkos Securities plc www.cenkos.com
Ivonne Cantú/Stephen Keys (Nomad) T: +44 (0) 20 7397 8980
Charles Stanley Securities www.csysecurities.com
Dugald Carlean/Paul Brotherhood T: +44 (0) 20 7149 6000
Newgate Threadneedle www.newgatethreadneedle.com
Caroline Evans--Jones/Josh Royston/Hilary T: +44 (0) 20 7653 9850
Millar/ Jasper Randall
This information is provided by RNS
The company news service from the London Stock Exchange
END
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