Optimal Payments PLC Update on Skrill Acquisition (6513U)

TIDMOPAY

RNS Number : 6513U

Optimal Payments PLC

31 July 2015

Optimal Payments plc

Update on Skrill Acquisition

LONDON (31 July, 2015) - Further to its announcements dated 23 March, 2015 and 1 June, 2015, Optimal Payments plc (LSE AIM: OPAY, the "Company") announces that the Financial Conduct Authority (the "FCA") has informed the Company that it has not yet concluded its evaluation of the application by the Company to take control of the Skrill Group FCA regulated entities pursuant to the acquisition of the entire issued share capital of Sentinel Topco Limited by the Company's wholly owned subsidiary Netinvest Limited (the "Acquisition") and a decision on the application is expected to be made no later than 11 August, 2015. There are no outstanding information requests from the FCA and the Company remains confident of a positive outcome of this process.

Completion of the Acquisition is conditional on, amongst other things, the receipt of change of control approval from the FCA and as at the date of this announcement, the only outstanding material condition to Completion is the receipt of change of control approval from the FCA.

Further announcements will be made by the Company in due course.

For further information contact:

Optimal Payments plc

Jessica Stalley, Head of Investor Relations

[phone] / [e-mail]

Canaccord Genuity Limited (Nominated Adviser & Broker)

Simon Bridges / Mark Whitmore

[phone]

Lazard & Co., Limited (Financial Adviser)

Cyrus Kapadia / Olivier Christnacht

[phone]

Media Contacts - United Kingdom:

Tavistock Communications

Simon Hudson / Andrew Dunn / Simon Fluendy

[phone] / [e-mail]

Canaccord Genuity Limited ("Canaccord"), which is authorised and regulated by the Financial Conduct Authority ("FCA") in the United Kingdom, is acting exclusively as the Company's nominated adviser and broker. Canaccord will not regard any other person (whether or not a recipient of this announcement) as a client and will not be responsible to anyone for providing the protections afforded to its clients or for providing advice in relation to the cancellation of trading on AIM or any matters referred to in this announcement. Neither Canaccord nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) in connection with this announcement, any statement contained herein or otherwise.

Lazard & Co., Limited ("Lazard"), which is authorised and regulated in the United Kingdom by the FCA is acting for the Company only and no one else in connection with the Acquisition and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the Acquisition and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Acquisition or any matters referred to in this announcement. Lazard and each of its affiliates do not owe or accept any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not one of its clients in connection with this announcement, any statement contained herein or otherwise.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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