Milestone Group PLC Milestone Group Plc : Contract

 
TIDMMSG 
 
 
   07 November 2016 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Contract Win 
 
   Milestone, the AIM quoted (AIM: MSG) provider of digital media and 
technology solutions announces that an agreement has been signed between 
its subsidiary Nexstar and an international money transfer and pre-paid 
card group (the "Client"). 
 
   Under the terms of the agreement, Nexstar will supply the Client with a 
virtual banking platform, pre-paid cards to be used by its own clients, 
and the technology to manage and administer both of these programmes. 
These services and the associated platforms will be fully operational by 
December 1(st) 2016 and will then be immediately revenue generating. 
 
   Nexstar will receive a monthly licencing fee for the virtual banking 
platform and a percentage of the activity value based on loading, 
transfers, withdrawals and transactions which will vary depending on the 
programme used. 
 
   Deborah White, CEO of Milestone commented: 
 
   "We are pleased to be able to demonstrate further positive results 
arising from the development work undertaken with Nexstar and its recent 
achievement of ISO status. This contract adds to a growing number of 
positive developments taking place within the Company - I look forward 
to updating on progress with these contracts and further deals as the 
year goes on." 
 
   About the Client 
 
   The Client is an India based international money transfer and pre-paid 
card group whose clients are predominantly from the Indian business 
community and trade all over Asia. Milestone estimates that an average 
of up to GBP250,000 a day will be handled by the Client and processed 
through Nexstar's service. 
 
   About Nexstar 
 
   Nexstar, a joint venture entity between Milestone and Black Cactus, is a 
technology provider delivering payment solutions and digital 
entertainment. The Nexstar platform is designed to meet the needs of 
clients, offering access to unique financial technology which has global 
regulatory approval, the most current streaming content for music, 
movies and TV, as well as transactional (downloadable) content from a 
number of global providers. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   For further information: 
 
 
 
 
Milestone Group PLC 
Deborah White, Chief Executive                   Tel: [phone] 
 
Cairn Financial Advisers LLP, Nominated Adviser 
Liam Murray/Sandy Jamieson                       Tel: [phone] 
 
Hybridan LLP, Broker 
Claire Louise Noyce                              Tel: [phone] 
 
Walbrook PR Limited, PR 
Gary Middleton/Paul Cornelius/Paul Whittington   Tel: [phone] 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

November 07, 2016 04:23 ET (09:23 GMT)

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