eServGlobal Limited Drawdown of second advance under Loan Facility (3076N)
28 1월 2016 - 8:31PM
UK Regulatory
TIDMESG
RNS Number : 3076N
eServGlobal Limited
28 January 2016
eServGlobal Limited ("eServGlobal" or the "Company")
Drawdown of second advance under Loan Facility from Substantial
Shareholder
28 January 2016
eServGlobal (LSE: ESG & ASX: ESV), the provider of
end-to-end mobile financial services to emerging markets, advises
that it has received the second advance in the amount of GBP2.5M
under the Loan Facility announced on 5 October 2015. The Loan
Facility is now fully drawn in the amount of GBP5M. The Company is
also presently indebted to the Lenders for GBP5M under the Existing
Loan, thus the total indebtedness of the Company to the Lenders is
GBP10M at the date of this announcement.
The Lenders, the Alphagen Volantis Fund Limited and the Alphagen
Volantis Catalyst Fund Limited, acting through its investment
manager, Alphagen Capital Limited (formerly known as Henderson
Alternative Investment Advisor Limited), part of Henderson Global
Investors agreed to the drawdown following shareholder approval
being obtained for the granting of the Company's assets as
collateral for the Loan Facility and the Existing Loan on the terms
described in the Explanatory Memorandum to the Company's Notice of
Meeting dated 18 December 2015.
There has been no variation to the terms of the Loan Facility or
any other arrangement between the Company and the Lenders and there
has been no new agreement between the Company and the Lenders
incidental to the drawdown of the second advance. The National
Australia Bank has not provided its consent to security being
granted to the Lenders and accordingly the Lenders are currently,
and will remain, unsecured creditors of the Company until the
National Australia Bank provides its consent, which the Directors
do not expect it to do, or the current loan from the National
Australia Bank is discharged.
The funds advanced will be applied partly towards working
capital requirements and also to repay the National Australia Bank
loan of A$3.0M. The Directors continue to expect that the National
Australia Bank will require repayment of the loan at the end of the
current term, being 31 March 2016.
For further information, please contact:
eServGlobal www.eservglobal.com
Tom Rowe, Company Secretary T: +61 2 8014 5050
investors@eservglobal.com
Canaccord Genuity Limited (Nomad www.canaccordgenuity.com
and Broker) T: +44 (0) 20 7523
Simon Bridges / Cameron Duncan 8000
/ Emma Gabriel
About eServGlobal
eServGlobal (AIM:ESG, ASX:ESV) offers mobile money solutions
which put feature-rich services at the fingertips of users
worldwide, covering the full spectrum of mobile financial services,
mobile wallet, mobile commerce, recharge, promotions and agent
management.
For more than 30 years, eServGlobal has been a source of
innovation for telcos and financial institutions. Using
carrier-grade, next-generation technology, eServGlobal aligns with
the requirements of customers around the globe.
Together with MasterCard and BICS, eServGlobal is a joint
venture partner of the HomeSend global payment hub, enabling
cross-border money transfer between mobile wallets, cards, bank
accounts or cash outlets from anywhere in the world.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 28, 2016 06:31 ET (11:31 GMT)
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