AGM Statement
April 29 2010 - 2:00AM
UK Regulatory
TIDMNEO
RNS Number : 9961K
Neovia Financial PLC
29 April 2010
NEOVIA Financial Plc
AGM Statement
Thursday 29 April 2010 - At the Annual General Meeting ("AGM") of NEOVIA
Financial Plc ("NEOVIA" or the "Company") (NEO.L), the leading alternative
payments business, being held later today in the Isle of Man, Chairman, Dale
Johnson will make the following statement:
"The Company has seen a positive start to 2010 building on the progress the
business made during 2009. Our efforts to drive efficiencies from the business
are beginning to bear fruit as our business transformation programme builds
momentum.
We are continuing to win significant new contracts in both our NETBANX
straight-through processing business and our stored value business which
comprises the NETELLER e-wallet and Net+ cards.
We will complete the transition to our new technology platform in the coming few
weeks. The Group is well placed to pursue its growth strategy through a
combination of organic development around existing businesses and appropriate
acquisition opportunities.
The business is performing in line with current market expectations. As we
stated in the annual report, market conditions continue to be challenging but we
remain confident that we are well positioned to take advantage of improved
trading activity.
On behalf of the Board, I would like to sincerely thank our two non-executive
directors, Don Lindsay and John Webster, who indicated earlier this year their
intent to step down from the board at the conclusion of today's AGM. Don and
John have been non-executive directors since the Company's admission to AIM in
April 2004 and have served the Company with outstanding commitment, loyalty and
professionalism throughout NEOVIA's life as a public company. The process to
find suitable new non-executive directors as well as a new Chief Financial
Officer is well underway and we expect to make formal announcements regarding
such appointments in the near future.
The Board has increased optimism about the outlook for NEOVIA in 2010 based on
the Company's renewed strategy for growth, noting the continuing short term
challenges for our customers from both the uncertain economic environment and
constantly evolving regulatory developments. I look forward to updating
shareholders on the Group's progress at our half year results."
For further information contact:
Andrew Gilchrist
+ 44 (0) 1624 698 713
VP Communications, NEOVIA Financial Plc
Email:investorrelations@neovia.com
Citigate Dewe Rogerson
+ 44 (0) 207 638 9571
George Cazenove / Seb Hoyle
Daniel Stewart & Co Plc
+ 44 (0) 207 776 6550
Paul Shackleton
* * * * *
About NEOVIA Financial
Trusted by consumers and businesses in over 170 countries to move and manage
billions of dollars each year, NEOVIA Financial Plc is a leading alternative
payments business. Through the NEOVIA Payment Network, merchants use the NETBANX
processing merchant service to simplify how they accept and settle card,
direct-from-bank, and cash payments, and the NETELLER payment account to
increase margins, capture new customers and increase customer lifetime values.
Being independent has allowed the company to support tens-of-thousands of
retailers and merchants in many geographies and across multiple industries.
NEOVIA Financial Plc is quoted on the London Stock Exchange's AIM, with a ticker
symbol of NEO. Subsidiary company NETELLER (UK) Ltd is authorised by the
Financial Services Authority (FSA) to operate as a regulated e-money issuer.For
more information about NEOVIA Financial visit www.neovia.com or subscribe at
www.neovia.com/feeds/.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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