AGM Statement (6924S)

TIDMESG

RNS Number : 6924S

eServGlobal Limited

24 November 2011

eServGlobal Limited (eServGlobal or the "Company")

eServGlobal AGM Statement

24 November 2011

eServGlobal (LSE: ESG & ASX: ESV), a global telecoms software vendor specialising in Mobile Money and Value-Added Services (VAS) will hold its Annual General Meeting at 11am today in Sydney, Australia.

At the meeting Richard Mathews, Chairman of the Company, will provide an update on the evolution of eServGlobal and its market:

"Our marketplace has undergone a significant evolution over the past two years as innovative mobile operators, banks, and service providers around the world have recognized the opportunity presented by mobile money. eServGlobal is at the centre of this market evolution, winning five new mobile money contracts in the last twelve months while simultaneously delivering dramatic growth in its international remittances footprint. At the end of FY2010 our international remittance platform, HomeSend, covered 35 million subscribers around the world; by the end of FY2011 we had passed the 300 million mark. Looking forward, we believe that mobile operators and money transfer organizations will need to provide a cost-effective, international, and interoperable arm for their domestic services, and we believe that HomeSend is positioned as the natural hub for this emerging mobile financial ecosystem."

Craig Halliday, CEO of the Company, will comment on the Company's continuing trajectory:

"FY2011 was a year of transition for the business. We refocused the business on the high-growth areas of Mobile Money and Value-Added Services and continued to drive for operational excellence, achieving EBITDA profitability in the second half of the previous financial year. We achieved these results while retaining the technological and operational flexibility that enable us to deliver best-in-breed service to clients in emerging markets. We are now serving more than 75 clients in over 55 countries around the world and we continue to add to the depth and the breadth of our installation base.

Since the start of FY2012 we have continued to build upon last year's successes, notably returning A$57.1M to shareholders as part of the USP asset sale, signing an important hub-to-hub agreement with Tranglo for HomeSend, winning our fifth domestic mobile money reference, and just this week announcing the go-live of a new Value-Added Service at Mobinil, who is Egypt's largest mobile operator and one of eServGlobal's long-standing customers. This new deployment builds on our reputation for enabling customers like Mobinil to provide new and innovative services to their subscribers.

We will continue to look for new ways to improve the business and its long-term growth prospects. Our strong market position, customer base and differentiated product offering give us confidence in achieving a successful outcome in the current year and beyond."

For further information, please contact:

 
 eServGlobal                                  www.eservglobal.com 
 Tom Rowe, Company Secretary                  T: +61 (0) 7 3302 0194 
  Info@eservglobal.com 
 Cenkos Securities plc                        www.cenkos.com 
  Ivonne Cantu/Stephen Keys (Nomad)            T: +44 (0) 20 7397 8980 
 Threadneedle Communications                  www.threadneedlepr.co.uk 
  Caroline Evans--Jones/Josh Royston/Hilary    T: +44 (0) 20 7653 9850 
  Millar

About eServGlobal

eServGlobal Limited specializes in Mobile Money solutions and Value-Added Services (VAS), to help Mobile Service Providers increase their revenue and gain and maintain customer ownership. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 75 customers in over 55 countries.

For more than 25 years mobile, fixed, Internet and telecom, and financial service providers have used eServGlobal solutions to lead and innovate in their local markets, leveraging their core assets and their trusted agent and subscriber relationships.

With 13 offices globally, eServGlobal provides full "end-to-end" and "any account to any account" Mobile Money Services and International Remittance Services. eServGlobal's HomeSend solution is the only mobile-centric international remittance hub to gain endorsement from the GSM Association.

eServGlobal's Value-Added Services in promotions, loyalty, and messaging enable service providers to engage with their subscribers in a personalized and dynamic manner.

To reduce time-to market and to meet the needs of operators and banks, eServGlobal provides multiple licensing alternatives as well as SaaS-based products and services.

eServGlobal is listed on the Australian Securities Exchange (ESV) and the London Stock Exchange AIM (ESG). More information is available at: www.eservglobal.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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