eServGlobal Limited Institutional Placement (5538A)
23 Dicembre 2014 - 8:01AM
UK Regulatory
TIDMESG
RNS Number : 5538A
eServGlobal Limited
23 December 2014
eServGlobal Limited ("eServGlobal" or the "Company")
Placing
Paris: 23 December 2014
eServGlobal (AIM: ESG & ASX: ESV), the provider of
end-to-end mobile financial services to emerging markets, announces
that it has entered into subscription agreements with existing and
new Australian institutional investors for the Company to issue a
total of 10,000,000 new ordinary shares ("New Shares") at A$0.55
(28.69 pence) per New Share, raising gross proceeds of AUD$5.5
million (GBP2.87 million) before costs (the "Placing").
The net proceeds from the Placing will allow eServGlobal to
invest in the rapid deployment of existing projects, following
which the Company expects to benefit from the customer project
lifecycle moving into higher margin work such as the expansion of
services, and capacity extensions as subscriber numbers increase.
The Company will also invest in the ongoing development of the
PayMobile platform. This highly scalable and modular platform is
expected to open new opportunities with channel partners and new
customer types on both a global and local level. Further detail on
the use of proceeds is set out in the Annexure.
The New Shares, when issued, will be credited as fully paid and
will rank pari passu with the existing issued ordinary shares,
including the right to receive all dividends and other
distributions declared, made or paid on or in respect of the
ordinary shares after the date of issue of the New Shares. The New
Shares represent 3.92% of the Company's existing issued ordinary
share capital, and will be issued by the Company pursuant to
existing authorities granted to the Directors.
Application will be made for the New Shares to be admitted to
trading on AIM ("Admission"), and it is expected that Admission
will become effective, and trading in the New Shares will commence
on 2 January 2015.
Following the issue of the New Shares, the Company will have
264,974,052 ordinary shares in issue. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.
Veritas Securities Limited acted as sole bookrunner in respect
of the Placing.
The investor presentation for the Placing is available at:
http://www.eservglobal.com/investors/financial-reports-presentations/2014
For further information, please contact:
eServGlobal www.eservglobal.com
Tom Rowe, Company Secretary T: +61 (0)2 8014 5050
Canaccord Genuity Limited (Nomad and Broker) www.canaccordgenuity.com
Simon Bridges / Cameron Duncan / Brendan Gulston T: +44 (0) 20 7523 8000
Charles Stanley Securities www.csysecurities.com
Dugald Carlean / Paul Brotherhood T: +44 (0) 20 7149 6000
Newgate Threadneedle www.newgatethreadneedle.com
Hilary Buchanan / Adam Lloyd / Jasper Randall T: +44 (0) 20 7653 9850
About eServGlobal
eServGlobal (AIM:ESG, ASX:ESV) offers mobile money solutions
which put feature-rich services at the fingertips of users
worldwide, covering the full spectrum of mobile financial services,
mobile wallet, mobile commerce, recharge, promotions and agent
management features. eServGlobal invests heavily in product
development, using carrier-grade, next-generation technology and
aligning with the requirements of more than 65 customers in over 50
countries.
Together with MasterCard and BICS, eServGlobal is a joint
venture partner of the HomeSend global payment hub, a market
leading solution based on eServGlobal technology and enabling
cross-border money transfer between mobile money accounts, payment
cards, bank accounts or cash outlets from anywhere in the world
regardless of the users location.
eServGlobal also builds on its extensive experience in the telco
domain to offer a comprehensive suite of sophisticated, revenue
generating Value-Added Services to engage subscribers in a dynamic
manner.
eServGlobal has been a source of innovative solutions for mobile
and financial service providers for 30 years.
Annexure
Use of Proceeds
AUD $M Note
Geographic expansion 1.2 1
Eliminate fixed cost 0.8 2
Accelerated development 0.8 3
Accelerate delivery of key projects 1.2 4
Strengthen Balance Sheet 1.2 5
Total 5.2
Notes
1. Investment in new headcount for geographic expansion and
channel sales enablement to further reduce reliance on Middle East
& Africa & expand sales footprint.
2. Rationalise legacy fixed cost base. Return on investment
anticipated in approximately 12 months.
3. Finalise industrialisation of PayMobile 3.0 for Channel sales
enablement. Effective channel operation will enable eServGlobal to
accelerate new customer acquisition and improve gross margins.
4. Acceleration of project milestone deliverables resulting in
improved margins, cash flow and expedition of license capacity
extensions.
5. Working capital to address short term operational
requirements and cash collateral to support the issuance of short
term performance bonds for new customer contracts. Pursuit of
sizeable Telecom Operator Group deals.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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