eServGlobal Limited Guarantees Credit Facility to HomeSend (8007E)
11 Maggio 2017 - 8:01AM
UK Regulatory
TIDMESG
RNS Number : 8007E
eServGlobal Limited
11 May 2017
eServGlobal Limited ("eServGlobal" or the "Company")
Guarantees Credit Facility to HomeSend
Paris: 11 May 2017
eServGlobal (LSE: ESG.L & ASX: ESV.AX), the provider of
innovative mobile financial technology, advises that it has today
agreed to guarantee, pro-rata in proportion to its shareholding in
HomeSend SCRL, a EUR5m credit facility provided by KBC Bank SA to
HomeSend SCRL (the Guarantee). The loan facility has been obtained
by HomeSend to support the growth of the business by supplementing
the working capital reserves, as and when required, to facilitate
transfer settlements. The Mastercard and BICS shareholding entities
in HomeSend SCRL have given similar guarantees (collectively, the
Guarantors).
HomeSend SCRL will reimburse a Guarantor for any payment made
under the Guarantee. If HomeSend issues capital either to reimburse
a Guarantor or to satisfy monies owing under the credit facility
following a Guarantor failing to meet a demand made against them
under the Guarantee, it has been agreed that the capital in
HomeSend SCRL will be issued at fair market value and a defaulting
Guarantor will not participate in the capital raising.
The Guarantee is given by eServGlobal (NZ) Pty Ltd and may be
withdrawn, in respect to future credit, on three months' notice.
eServGlobal Limited has agreed to indemnify eServGlobal (NZ) Pty
Ltd against any demands made against eServGlobal (NZ) Pty Ltd under
the Guarantee. The Guarantee is unsecured.
Andrew Hayward, CFO of eServGlobal commented, "The risk attached
to this guarantee, while not theoretical, is low in the normal
course of business. The facility is to avoid putting unnecessary
strain on the working capital of the business and is a sign of
growing success."
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.
For more than 30 years, eServGlobal has been a source of
innovation for telcos and financial institutions. Using
carrier-grade, next-generation technology, eServGlobal aligns with
the requirements of customers around the globe.
Together with MasterCard and BICS, eServGlobal is a joint
venture partner of the HomeSend global payment hub, enabling
cross-border money transfer between mobile wallets, cards, bank
accounts or cash outlets from anywhere in the world.
For further information, please contact:
eServGlobal www.eservglobal.com
Tom Rowe, Company Secretary investors@eservglobal.com
Alison Cheek, VP Corporate Communicatons
finnCap Ltd (Nomad and Broker) www.finnCap.com
Jonny Franklin-Adams / Anthony T: +44 (0) 20 7220
Adams 0500
Alma PR (Financial Public Relations) www.almapr.co.uk
Hilary Buchanan / John Coles T: +44 (0) 208 004
4218
This information is provided by RNS
The company news service from the London Stock Exchange
END
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May 11, 2017 02:01 ET (06:01 GMT)
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