eServGlobal Limited HomeSend Investment (2371B)

TIDMESG

RNS Number : 2371B

eServGlobal Limited

05 October 2015

eServGlobal Limited ("eServGlobal" or the "Company")

HomeSend Investment

5 October 2015

eServGlobal (AIM:ESG & ASX:ESV), the provider of end-to-end mobile financial services to emerging markets, announces that, further to the announcement earlier today, the Company has agreed to subscribe for partly paid shares, with full voting rights, in the HomeSend JV so as to maintain its shareholding at 35%.

The Company is required to pay EUR875K on 14 October 2015 and EUR2.625M on 15 April 2016 for the shares, out of a total capital raise of EUR10M by HomeSend. The partly paid shares will be fully paid on the final payment. Should eServGlobal fail to make the final payment on or before 15 April 2016, the other JV partners are entitled (but not obliged) to acquire all of eServGlobal's partly paid shares at the paid up amount. On a fully paid basis, the shares are issued at the same price as at inception of the JV and will represent 14.28% of the enlarged issued share capital of HomeSend.

For further information, please contact:

 
 eServGlobal                                      www.eservglobal.com 
 Tom Rowe, Company Secretary                      T: [phone] 
                                                   [e-mail] 
 Canaccord Genuity Limited (Nomad and Broker)     www.canaccordgenuity.com 
  Simon Bridges / Cameron Duncan / Emma Gabriel    T: [phone] 
 Newgate                                          www.newgatecomms.com 
  Adam Lloyd / Helena Bogle                        T: [phone] 
 

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 has been a source of innovative solutions for mobile and financial service providers for 30 years.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 05, 2015 09:00 ET (13:00 GMT)