eServGlobal Limited Agreement to Issue Shares (1776W)

TIDMESG

RNS Number : 1776W

eServGlobal Limited

23 December 2013

eServGlobal Limited (eServGlobal or the "Company")

eServGlobal Agreement to Issue Shares

Paris: 23 December 2013

eServGlobal (LSE: ESG & ASX: ESV), the provider of end-to-end mobile financial services to emerging markets, announces that it has entered into a subscription agreement with an existing Australian institutional investor for the Company to issue 4,500,000 fully paid ordinary shares at AUD$0.75 (GBP0.41) per share, a 3.8% discount to the closing price on the ASX on 19 December 2013 of AUD$0.78, raising AUD$3.375M (approximately GBP1.843M). There are no fees payable on this placement.

eServGlobal is continuing to gain traction in the mobile money space. As the company competes for larger contracts with larger telecommunication and financial services companies the demand for up-front performance bonds and the acceleration of specific projects and deliverables is required.

This small capital raise (along with the proceeds from the entry into the HomeSend JV) will allow eServGlobal to participate in specific projects and develop opportunities arising from new and existing partnerships.

Application will be made for the 4,500,000 shares to be admitted to trading on the ASX and on AIM. It is expected that the shares will be issued on 30 December 2013 (being represented by depositary interests in CREST) and will be admitted to AIM on 30 December 2013. Following the issue, the Company's total issued share capital will be 253,545,997 fully paid ordinary shares of no par value.

The Company does not require shareholder approval for the issue of the shares.

About eServGlobal

eServGlobal (LSE: ESG, ASX: ESV) offers mobile money solutions which put feature-rich mobile financial services at the fingertips of users worldwide, covering the full spectrum of mobile wallet, mobile commerce, recharge and agent management features. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of 65 customers in 50 countries. eServGlobal is partnering with MasterCard and BICS to build the HomeSend joint venture, the market leading international remittance service based on eServGlobal technology and enabling mobile money transfer in over 50 markets. eServGlobal has been a source of innovative solutions for mobile and financial service providers for 30 years.

For further information, please contact:

 
 eServGlobal                                   www.eservglobal.com 
 Tom Rowe, Company Secretary                   T: [phone] 
                                                [e-mail] 
 Cenkos Securities plc                         www.cenkos.com 
  Ivonne Cantú/Stephen Keys (Nomad)        T: [phone] 
 Charles Stanley Securities                    www.csysecurities.com 
  Dugald Carlean/Paul Brotherhood               T: [phone] 
 
   Newgate Threadneedle                          www.newgatethreadneedle.com 
   Caroline Evans--Jones/Josh Royston/Hilary     T: [phone] 
   Millar/ Jasper Randall 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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