AGM Statement

 

TIDMNEO 
 
RNS Number : 9961K 
Neovia Financial PLC 
29 April 2010 
 

 
                              NEOVIA Financial Plc 
 
                                  AGM Statement 
 
 
Thursday 29 April 2010 - At the Annual General Meeting ("AGM") of NEOVIA 
Financial Plc ("NEOVIA" or the "Company") (NEO.L), the leading alternative 
payments business, being held later today in the Isle of Man, Chairman, Dale 
Johnson will make the following statement: 
 
"The Company has seen a positive start to 2010 building on the progress the 
business made during 2009.  Our efforts to drive efficiencies from the business 
are beginning to bear fruit as our business transformation programme builds 
momentum. 
 
We are continuing to win significant new contracts in both our NETBANX 
straight-through processing business and our stored value business which 
comprises the NETELLER e-wallet and Net+ cards. 
 
We will complete the transition to our new technology platform in the coming few 
weeks. The Group is well placed to pursue its growth strategy through a 
combination of organic development around existing businesses and appropriate 
acquisition opportunities. 
 
The business is performing in line with current market expectations.  As we 
stated in the annual report, market conditions continue to be challenging but we 
remain confident that we are well positioned to take advantage of improved 
trading activity. 
 
On behalf of the Board, I would like to sincerely thank our two non-executive 
directors, Don Lindsay and John Webster, who indicated earlier this year their 
intent to step down from the board at the conclusion of today's AGM. Don and 
John have been non-executive directors since the Company's admission to AIM in 
April 2004 and have served the Company with outstanding commitment, loyalty and 
professionalism throughout NEOVIA's life as a public company.  The process to 
find suitable new non-executive directors as well as a new Chief Financial 
Officer is well underway and we expect to make formal announcements regarding 
such appointments in the near future. 
 
The Board has increased optimism about the outlook for NEOVIA in 2010 based on 
the Company's renewed strategy for growth, noting the continuing short term 
challenges for our customers from both the uncertain economic environment and 
constantly evolving regulatory developments. I look forward to updating 
shareholders on the Group's progress at our half year results." 
 
 
For further information contact: 
 
Andrew Gilchrist 
                + 44 (0) 1624 698 713 
VP Communications, NEOVIA Financial Plc 
Email:[e-mail] 
 
Citigate Dewe Rogerson 
          + 44 (0) 207 638 9571 
George Cazenove / Seb Hoyle 
 
Daniel Stewart & Co Plc 
           + 44 (0) 207 776 6550 
Paul Shackleton 
 
                                    * * * * * 
About NEOVIA Financial 
 
Trusted by consumers and businesses in over 170 countries to move and manage 
billions of dollars each year, NEOVIA Financial Plc is a leading alternative 
payments business. Through the NEOVIA Payment Network, merchants use the NETBANX 
processing merchant service to simplify how they accept and settle card, 
direct-from-bank, and cash payments, and the NETELLER payment account to 
increase margins, capture new customers and increase customer lifetime values. 
Being independent has allowed the company to support tens-of-thousands of 
retailers and merchants in many geographies and across multiple industries. 
 
NEOVIA Financial Plc is quoted on the London Stock Exchange's AIM, with a ticker 
symbol of NEO.  Subsidiary company NETELLER (UK) Ltd is authorised by the 
Financial Services Authority (FSA) to operate as a regulated e-money issuer.For 
more information about NEOVIA Financial visit www.neovia.com or subscribe at 
www.neovia.com/feeds/. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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