Update on Outlook and Formal Process


 

TIDMESG 
 
RNS Number : 1889P 
eServGlobal Limited 
20 March 2009 
 
20 March, 2009 
eServGlobal Limited 
("eServGlobal" or "the Company") 
 Update on Outlook and Formal process 
eServGlobal Limited (LSE: ESG & ASX: ESV), a provider of end-to-end solutions, 
enabling smart communication and payment services for service providers on any 
generation network, today provides an update on several key topics. 
Updated guidance for the full year ending 30 June, 2009. 
The Company now expects to report full year revenue in the range AUD$165 - 
170million, compared to AUD$177.9m in the corresponding period in 2008 and 
AUD$153m in 2007. 
This expectation is a reduction of approx AUD$10m from our previous guidance. 
The change represents additional volatility in customer project schedules and 
some customers choosing to delay upgrades and expansion orders. 
The company has continued and expanded it's restructuring programme, initiated 
in the first half, with the objective of taking action now that will benefit 
profitability in the 2010 fiscal year. 
Update On Formal Process. 
As previously communicated, the Board received a number of preliminary 
approaches from parties interested in acquiring the Company. These preliminary 
approaches have now been investigated and considered against the intrinsic 
valuation of the Company, having regard to its current business activities and 
management's confidence in the Company's market positioning and the mid to long 
term prospects. 
Consequently, the Board has concluded that pursuing a transaction at this time 
would not maximise value for shareholders and has therefore discontinued 
discussions with external parties. 
Mr. Ian Buddery, Executive Chairman of eServGlobal, said: "Market conditions 
have continued to be challenging in the second half of our financial year, 
however capital expenditure by operators is being delayed, not cancelled and we 
are confident of the commencement of a recovery during calendar 2009." 
"eServGlobal is in the position of having no debt, strong cash reserves and a 
strong pipeline of organic growth opportunities. The recent selection of 
Belgacom ICS & eServGlobal's HomeSendtm platform as a preferred Mobile Money 
Transfer (MMT) platform by the GSM Association, in particular underpins 
potential significant increases in results in coming years. In addition, the 
Company continues to win major new projects, such as the Egypt contract 
announced recently." 
"eServGlobal continues to benefit from subscriber growth in emerging markets, 
from our rapid technical innovation and from our large customer base. We remain 
committed to maximising shareholder value and we are confident of the Company's 
prospects in the coming years." 
 
For further information: 
 
+--------------------------+----------------------------------+ 
| Ian Buddery              | Numis Securities Limited         | 
| Executive Chairman       | Brent Nabbs (NOMAD) / David      | 
| eServGlobal Limited      | Poutney (Broking)                | 
| +61 2 9364 2700          | Tel: +44 (0) 20 7260 1000        | 
|                          |                                  | 
+--------------------------+----------------------------------+ 
| www.eservglobal.com      |                                  | 
+--------------------------+----------------------------------+ 
Cautionary Statements 
 
Statements in this announcement expressing the beliefs and expectations of 
management regarding future performance are "forward-looking statements" within 
the meaning of the United States Private Securities Litigation Reform Act of 
1995. These statements are based on management's expectations as of the date of 
this document and are subject to uncertainty and changes in circumstances. 
Actual results may differ materially from these expectations due to risks and 
uncertainties including, but not limited to, uncertainty in communications 
spending, the implementation of the Company's solutions strategy, six-monthly 
fluctuations in financial results, the Company's ability to exploit fully the 
value of its technology and its strategic partnerships and alliances, the 
availability of products from product component vendors and other risks. In 
addition, while management may elect to update forward-looking statements at 
some point in the future, management specifically disclaims any obligation to do 
so, even if its estimates change. Any reference to our website in this 
announcement is not intended to incorporate the contents thereof into this 
announcement or any other public announcement. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCEBLBLKXBLBBK
Eservglobal (LSE:ESG)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024