[EPO] This has to be one of my all time favourites. It has suffered through credit/debit card fraud sceptism, yet it still bangs out good neglected results. Maybe, just maybe, some institutions, apart from me, will wake up and appreciate this leader in its field. A truly undervalued stock on future prospects. I have written on and reported about this stock for several years now, but I truly believe there is still more share price upside due on fundamental analysis.
Earthport, the global payments utility, has appointed Zeus Capital to assist the Company in reviewing and evaluating a number of strategic options which the Board has available to them with the primary objective of optimising shareholder value. One such option may include an offer being made for the Company. This announcement therefore has the effect of commencing an offer period under the rules of the City Code on Takeovers and Mergers ("Code").
Earthport has now moved into a period of advanced execution following successful developments in several areas and therefore the Board believes that the Company is in a very strong position from which to assess and decide which of the options available to it best serves the interests of shareholders.
The process is at an early stage and it may or may not lead to an offer for the Company. As the Strategic Review progresses, further announcements will be made as appropriate
Back to square one, almost. On 30 June 2009, Earthport announced that it had moved into a period of advanced execution following successful developments in several areas, and that Zeus Capital had been appointed to assist the Company in reviewing and evaluating a number of strategic options available to them with the objective of optimising shareholder value. Since that time the Board has held discussions with a number of prominent organisations and global corporate entities. Some of these discussions have resulted in new business developments whilst others have advanced existing business relationships and enabled the organisations concerned to receive a better insight into the long term strategy and potential of Earthport. As well as raising Earthport's profile with third parties, ongoing discussions range from franchising opportunities to new strategic channels to market.None of the ongoing discussions relate to an offer being made for the Company and, accordingly, the Company is no longer in an offer period as defined by the City Code on Takeovers and Mergers.
[EPO] Hi fjp73. The negatives have stacked up against sentiment for [EPO] This is what I wrote on the premium chat thread a few weeks ago, I am sure the subtle warnings were heeded.
Opinion: No Opinion
Strategic review14 Oct '09
On 30 June 2009, Earthport announced that it had moved into a period of advanced execution following successful developments in several areas, and that Zeus Capital had been appointed to assist the Company in reviewing and evaluating a number of strategic options available to them with the objective of optimising shareholder value. Since that time the Board has held discussions with a number of prominent organisations and global corporate entities. Some of these discussions have resulted in new business developments whilst others have advanced existing business relationships and enabled the organisations concerned to receive a better insight into the long term strategy and potential of Earthport. As well as raising Earthport's profile with third parties, ongoing discussions range from franchising opportunities to new strategic channels to market.None of the ongoing discussions relate to an offer being made for the Company and, accordingly, the Company is no longer in an offer period as defined by the City Code on Takeovers and Mergers. The effect of this will be to adversly affect and weaken the sp to a level where buying pressure stabilizes and returns sp to normal levels excluding any bid premium.
Announce an update on the adoption of its service following the sales and marketing efforts of Earthport Middle East Ltd. (a fully owned subsidiary of Earthport Plc). Following a number of incremental client wins, Earthport's service is now operational in 119 Exchange House branches offering a "To Bank" remittance service, where Earthport is the exclusive provider of this service and technology. Leading Exchange Houses across the United Arab Emirates are offering this functionality to their customers on a white-label basis. Earthport expects to see further adoption of this service before the end of December 2009 to additional branches in the United Arab Emirates, Kuwait, Oman and Jordan.More than US$8Bn was remitted from the United Arab Emirates in 2008 through Exchange Houses and this market is estimated to be growing at 5% annually.
[EPO] Announces that, following its expansion into South America, it has entered into an agreement with Zink Financial SA which forms an important cornerstone of Earthport's global rollout strategy, enabling more rapid expansion at lower cost.The agreement, signed on 20 November 2009, provides for the payment by Zink to Earthport of a non-refundable first-year franchise fee of £3.25 million for the territories of Central America, South America and the Caribbean. The first year franchise fee is to be received by Earthport by 21 December 2009.Under the terms of the agreement, a detailed franchise operating contract between the two parties will be signed by early 2010, providing definitive terms to operate a franchise of Earthport's business in the region for a period of five years. These terms will also provide for Earthport to receive professional service and monthly maintenance fees.
[EPO] Recent problems with Zinc Financial SA will be resolved once the terms of the agreement have been resolved. The bombed out share price should recover from recent lows.
This global payments utility, has agreed with the holder of a Loan Note ("Note") to convert the Note to equity. As a result, £500,000 of debt plus £64,536 accrued interest has been converted to 3,707,955 new ordinary shares of 10 pence each. The Note was converted using the average closing share price of the last five days, ending 10 August. Following this conversion, Earthport has no outstanding debt.
Earthport has also applied to the London Stock Exchange for 3,707,955 New Ordinary Shares of 10 pence each to be admitted to trading on AIM. It is expected that Admission will become effective on 17 August 2011. The New Ordinary Shares will rank pari passu in all respects with the existing issued Ordinary Shares.
Following Admission, the Company's enlarged issued share capital will comprise 206,288,255 ordinary shares with one voting right per share. There are no shares held in treasury and the total number of voting rights in the Company is therefore 206,288,255.
This figure of 206,288,255 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
[EPO] As a follow up to Friday,s footprint.This global payments utility, announces today two new client wins that have now gone live and have begun to generate revenue for the Company.Rev Europe, a global provider of cutting-edge, end-to-end payment solutions, has chosen Earthport to process their bank transfers and settlements for prepaid card loading programs in some of the countries they serve. A second client also went live last week and is using Earthport's payment network for their prepaid card programmes.Earthport's strategy of focusing on customer acquisition in key segments and onboarding clients with minimum volume and term commitments continues successfully. Earthport has won several additional such contracts, details of which will be announced as they go live and start generating revenue. A healthy pipeline continues to grow within the banking and non banking financial institutions space. Hank Uberoi, Executive Director of Earthport, said: "We are pleased with the continuing traction we are creating in the business. These new clients are validating our go to market strategies and focus."
Announces that it has contracted, integrated and is processing live transactions for a Western Union "direct to bank" solution.
Under the terms of the contract Earthport will provide payments processing capabilities for a Western Union service providing international money transfer. The service will initially be launched from selected Western Union agent locations and westernunion.com sites worldwide and will allow people to send money directly to any bank account in more than 35 countries.
Announces today two new clients on IBM's Global Expense Reporting Service (GERS) that are now live and transacting using Earthport direct to bank services. The two new clients are multinational organisations, one in the global consumer personal care industry and the other in the global hotel and lodging industry.
The inclusion of Earthport's disbursement service as a component in GERS, improves efficiency by minimising the number of manual interventions as a result of payments. New multinational organisations are benefitting from an end-to-end pay-as-you go solution that allows the management and processing of travel and general expenses (T&E) in a cost-effective, time saving and scalable solution.
Earthport continues to work to support the processing of expense payments for IBM's Global Expense Report Services client base. As more IBM clients adopt the GERS solution, the number of transactions is expected to grow.
Hank Uberoi, Executive Director, Earthport commented:
"We're excited that IBM is leveraging Earthport's proven payment service to achieve additional efficiencies when processing travel and general expenses for their global client base. Our strategy to grow our business in the disbursements space through this channel is proven by the recent traction shown with the addition of the new IBM customers".
[EPO]This global payments utility, announces its preliminary results for the year ended 30 June 2011.
· Revenue increased by 28% to £2,488,000 (2010: £1,947,000)
· Gross profit increased by 32% to £1,926,000 (2010: £1,459,000)
· Gross margin improved to 77% from 75%
· Raised £7.5m through an equity placing to provide growth and working capital and to strengthen the balance sheet in October 2010
· Month on month increase in transactions processed every month since March and still increasing
· Significant new additions to Board and senior management team
· Awarded Best Alternative Payments Programme at the Annual Cards and Payments Awards
· Post period end, raised a further £10.6m from new and existing institutional investors
During the last 12 months, Earthport has been characterised by reorganisation and investing for growth. Much progress has been made in transforming and preparing Earthport to become a global payments infrastructure provider and there have been notable successes along the way.
Earthport ended fiscal 2010 with a record number of monthly transactions processed in June 2010. The number processed in July 2010 was also a record number for July. In August and September 2010, the "Bring Money Home" and the "Earthport Direct" services were launched, respectively. Also in August, the first corporate client went live under Earthport's previously announced IBM GERS contract. The IBM GERS solution is an expense reporting and payment system which IBM markets to its corporate clients.
has gone live Italbank International, Inc. ("Italbank"), a bank based in Puerto Rico, to offer enhanced cross-border payment services to its customers. Through the service, Italbank will be able to automate and enhance its cross border payments services.
Amongst other services, Italbank facilitates pension payments to European individuals who have settled overseas. Earthport will facilitate making these payments.
Has partnered with Fiserv, Inc.a leading global provider of financial services technology solutions, to provide a solution for international payments. This partnership will enable Fiserv clients seamlessly to process low value, cross-border payments through Fiserv's PEP+ application. PEP+ is Fiserv's leading domestic ACH processing solution and the partnership with Earthport will expand its reach globally.
Rahul Gupta, president, Digital Payments Solutions Group, Fiserv, said:
"PEP+ is the leading domestic ACH processor and now, with the integration with Earthport, we will expand that reach globally. The commitment that we have always shown to payments within the U.S. will now expand to cross-border ACH payments - a capability our customers have requested."
Hank Uberoi, Executive Director, Earthport said:
"This partnership represents a significant step in Earthport's development. It augments Fiserv's leading domestic service with an international capability."
[EPO] Excellent platform for future trading growth and potential shareholder value upside!
year ended 30 June 2012.
FY12 Financial Highlights
· Revenue increased by 21% to £3,017,000 (2011: £2,488,000)
· Gross profit increased by 22% to £2,347,000 (2011: £1,926,000)
· Gross margin improved to 78% from 77%
· Cash at 31 October 2012 of £10.3 million, following successful placing of £8.0 million in October 2012
FY12 Operational Highlights
· Transaction volumes increased 53% year-on-year, accelerating through the year:
o Increase in June 2012 of 103% compared to June 2011
o Growth has continued, with October 2012 being 143% higher compared to June 2011
· Country network expanded to a total of 54 countries, with several more in progress
· 19 new customers were signed in the financial year, 12 customer implementations went live while an additional 13 customers are contracted but not yet live
· Significant partnerships signed, including:
o Fiserv in North America
o NEC Decillion in Singapore
· Further investment made in infrastructure and people to align the business with its growth opportunities
· New regulations, such as the Dodd Frank Act (DFS 1073) driving additional opportunities
Earthport, a leading provider of cross-border payment services, today announced an agreement with BB&T Corporation (NYSE: BBT), one of the largest financial services holding companies in the U.S., that will enable BB&T to expand its payments service. BB&T will integrate with the Earthport cross-border payments service to complement the bank's existing solutions for retail person-to-person payments, providing a transparent service in line with the requirements under Dodd Frank 1073 regulation.
Agreement with hyperWALLET Systems Inc., a global payment provider and processor for corporate entities that make payments to employees and other beneficiaries. Integration with the Earthport service has been completed, and the corporate payments service is now live, enabling the efficient processing of high volumes of low value payments, via a transparent service.
hyperWALLET is a privately held, financial services technology company based in Vancouver, Canada. The company was founded 12 years ago with a mission to develop intuitive, accessible and low-cost payment solutions for the online and wireless markets. It has since become a leading provider of online and mobile payments, international payments, and financial technology solutions to world-class customers in the United States and most parts of the globe.
hyperWALLET's proprietary and patented Java and XML multi-currency banking platform is scalable, auditable, efficient and integrated with many settlement networks and enterprise applications. Further expansion to new regional services can be readily performed based on our modular platform adapters. Turn-key solutions available for the hyperWALLET platform are electronic wallets, prepaid card management systems, merchant payment and reconciliation systems, mobile bank accounts, and cash transfers to retail locations worldwide.
hyperWALLET has two significant business lines: direct selling commission processing, and the financial services business line where a consumer to consumer, account-based money transfer service is offered.
Earthport plc, a regulated global financial services organisation, specialises in the provision of a white label cross-border payments service.
Through its innovative payments framework, specifically designed for high volumes of low value cross-border payments, Earthport provides a cost-effective and transparent service for secure international payments. Earthport's customers include banks, foreign exchange businesses, money transfer organisations, payment aggregators and e-commerce businesses. Through Earthport's well established payments infrastructure, customers can clear and settle payments directly to banked beneficiaries in over 50 countries.
announced an agreement with American Express (NYSE: AXP) to expand its existing foreign exchange international payment service. The launch of the service is expected later in 2013.
Trading performance. Six months ended 31 December 2012.
· Revenue grew 32% to £1.83m (H1 2012: £1.39m)
· Gross profit increased by 35% to £1.42m (H1 2012: £1.05m)
· Gross margin improved to 77.7% (H1 2012: 75.6%)
· Loss before taxation and share based payment charges decreased to £3.7m (H1 2012: £4.5m)
· Cash at 31 December 2012 of £9.6m (31 December 2011: £10.9m)
· Successful placing in October 2012 raised £8.0m gross
· Transaction volumes increased 72% compared to the period ended 31 December 2011
· 9 new customers were signed in the period and 8 customer implementations went live
o Bank of America N.A. a subsidiary bank of Bank of America Corporation (NYSE:BAC), contract announced in December 2012
· Banking network expanded to 55 countries, with more in progress
· Regulations, such as Dodd Frank 1073 continuing to drive sales pipeline
Post Period Highlights
· Continued adoption of Earthport's services by major global financial institutions:
o BB&T Corporation (NYSE: BBT), one of the largest financial services holding companies in the U.S, announced in January 2013
o hyperWALLET Systems Inc., a global payment provider and processor for corporate entities, announced in March 2013
o American Express(NYSE: AXP) announced in March 2013