SafeCharge International Group Ltd Trading Statement (7735X)

TIDMSCH

RNS Number : 7735X

SafeCharge International Group Ltd

29 November 2017

SafeCharge International Group Limited

("SafeCharge", the "Company" and together with its subsidiaries, the "Group")

Trading Statement

SafeCharge (AIM: SCH), a leader in advanced payment technologies, provides the following update.

Trading update

Trading ahead of the 2017 year-end has been strong, as a result the Group's financial performance for the full year is expected to be in line with market expectations.

The Company continues to make considerable progress with its strategy of winning Tier 1 customers within both traditional verticals and in new target verticals and markets:

 
 --   Traditional verticals: the Group is benefiting 
       from increasing high quality revenue streams 
       following recent Tier 1 client wins including 
       Plus500, 888, Bet365, PaddyPower and EuroBet. 
 --   New verticals: the Group is now processing 
       transactions for a growing number of online 
       retail, travel and airline operators, including 
       being the first to launch WeChat Pay in-store 
       in the UK. 
 --   Continued investment in infrastructure & 
       processing technologies to support future 
       growth. 
 
 

Senior Management Appointment

SafeCharge today announces the appointment of Nicolas Vedrenne as Chief Business Development Officer effective from 1 December 2017. Nicolas joins us from the Merchant Risk Council (MRC), where he was Managing Director for Europe.

Commenting on the appointment, David Avgi, CEO of SafeCharge, said:

"I would like to welcome Nicolas to SafeCharge's management team. He brings over 20 years' experience in senior managerial and business development positions in the payments industry. We will continue to focus and invest further to build our sales teams to accelerate a successful entry into new target sectors and geographies, and I look forward to working closely with Nicolas to enhance this."

Outlook

The Board is encouraged by the Company's strong performance during the second half of the year. The Group will enter 2018 having expanded its Tier 1 customer base, with customers in new sectors, including travel and retail, and new markets, and with a strong pipeline which provides confidence for 2018 and beyond.

- Ends -

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries

 
 SafeCharge International 
  Group Limited 
  David Avgi, Chief Executive 
  Officer 
  Tsach Einav, Chief Financial 
  Officer 
  c/o FTI Consulting              [phone] 
 Jean Beaubois, Head of 
  Investor Relations              [phone] 
 Shore Capital 
  Mark Percy 
  Toby Gibbs                      [phone] 
 FTI Consulting 
  Matthew O'Keeffe                [phone] 
 

About SafeCharge

SafeCharge International Group Limited (AIM: SCH) is the payment service partner for the world's most demanding businesses. SafeCharge provides global omni--channel payments services from card acquiring and issuance to payment processing and checkout, all underpinned by advanced risk management solutions. This fully featured proprietary payment platform connects directly to all major payment card schemes including Visa, MasterCard, American Express and Union Pay as well as over 150 local payment methods. With offices around the world, SafeCharge serves a diversified, blue chip client base and is a trusted payment partner for customers across a range of vertical markets. The Company has been listed on the London Stock Exchange AIM market since 2014.

www.safecharge.com

This information is provided by RNS

The company news service from the London Stock Exchange

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November 29, 2017 02:00 ET (07:00 GMT)