CTU Conister Tst

RNS Number:2343H
Conister Trust PLC
07 November 2007



                                                                 7 November 2007

                               Conister Trust PLC

                      ('Conister Trust' or the 'Company')


                              ISSUE OF NEW SHARES


Conister Trust announces the placing of 8,336,857 ordinary shares of 25 pence
each (the "Ordinary Shares") at a price of 85 pence per Ordinary Share to
Helvetica Strategic Holdings for a total consideration of #7,086,328.

Helvetica Strategic Holdings ("the Fund") is an investment vehicle advised by
Helvetica Wealth Management Partners ("Helvetica"), a global asset manager with
offices in Geneva, Zug, Singapore and Douglas. Through its presence on the Isle
of Man, Helvetica advises a number of listed and private funds; in 2006 it was
appointed as an investment manager for the Treasury Reserves by the Isle of Man
Government. Helvetica also has strong ties with the State of Qatar, where it is
in the process of setting up an office.

Oliver Hare, Chief Executive Officer of Helvetica commented that "We believe
that Conister Trust represents an exceptional opportunity for long-term growth
within a well-regulated and tax-efficient jurisdiction. We look forward to
working together with Conister Trust in the development of wealth management
products and services. In addition, we are extremely impressed with the prepaid
cards and other payment solutions developed by TransSend, Conister Trust's
global payment solutions subsidiary."

Jim Mellon, Chairman of Conister Trust stated that "The Board is of the opinion
that it is in the best interests of the Company to accept this high-profile
investment at a premium to market price. The monies raised will provide further
impetus to the Company's strategy of becoming a leading global provider of
payment solutions, including prepaid cards. In addition, this new relationship
will allow Conister Trust to develop further opportunities within the banking
and finance sector."

The proceeds of the placing will be used by Conister Trust to fund the
development costs of the prepaid card business, new banking initiatives and to
strengthen the balance sheet.

The total number of Ordinary Shares in issue following the allotment and issue
of the new Ordinary Shares is 50,409,000, of which the Fund will own 8,336,857
Ordinary Shares, representing 16.54 per cent of the issued Ordinary Share
capital of the Company.

Application has been made to the London Stock Exchange for the 8,336,857
Ordinary Shares to be admitted to trading on AIM and trading in these Ordinary
Shares is expected to come effective on 13 November 2007.


END




For further information, please contact:
Conister Trust plc
Jeremiah Linehan Chief Executive Officer
Tel 01624 694694
Beaumont Cornish Limited
Roland Cornish
Tel +44 (0) 20 7628 3396








                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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