Milestone Group PLC Milestone Group Plc : Nexstar Signs New Payroll Contract

 
TIDMMSG 
 
   31 October 2016 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Milestone, the AIM quoted (AIM: MSG) provider of digital media and 
technology solutions announces that a contract has been signed with its 
subsidiary, Nexstar and a UK based entertainment industry payroll 
specialist ("Payroll Specialist"). 
 
   Nexstar, using its status as an Independent Sales Organisation (ISO) 
will provide an innovative payroll payment solution which will include, 
but is not limited to, providing the Payroll Specialist with white 
labelled pre-paid cards to issue to its clients and the allowing use of 
the Nexstar financial platform to control payroll administration and 
payments. This service and the platform will be commissioned in the next 
few weeks and will then be immediately earnings enhancing. 
 
   Nexstar will receive a fee per platform built for each of the Payroll 
Specialist's clients who request this service and a percentage of all 
transactions on every pre-paid card issued. 
 
   Deborah White, CEO of Milestone commented: 
 
   "Having ISO status through a major global payments corporation is giving 
Nexstar access to a large global market of companies involved in the 
payroll services and reward space. These companies are increasingly 
seeing the cost savings and benefits of using pre-paid cards in their 
payroll and coupled with the financial platform and our ISO status we 
believe we have a strong product and service mix to offer." 
 
   About the Payroll Specialist 
 
   The contract is with one of the largest providers of payroll services to 
the entertainment industry in the UK covering casino's, nightclubs, bars 
and restaurants and includes household names on its client list. 
Milestone estimates that an average of around GBP100,000 a day will be 
processed through Nexstar's platform. The Payroll Specialist not only 
offers payroll services to its clients but also elite reward programmes 
and high end concierge services. 
 
   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, 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

October 31, 2016 03:01 ET (07:01 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.