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eServGlobal To Sell Operating Business For EUR2 Million, Change Name

Tue, 04th Jun 2019 12:04

LONDON (Alliance News) - eServGlobal Ltd on Tuesday said it has agreed to sell its core operating business, eServGlobal, and associated assets to Seamless Distribution Systems AB for EUR2.0 million in cash.

The stock was trading 9.6% higher on Tuesday at 6.30 pence a share.

The digital transactions technology company said its only trading activity, following the disposal, will be the management of its 36% stake in HomeSend SCRL. eServGlobal noted that it does not intend to buy any further operating businesses following completion of the sale.

Following the transaction, eServGlobal intends to change its name to Wameja Ltd. The transaction and the change of name are both conditional upon shareholder approval.

eServGlobal sadi it has received undertakings from shareholders in respect of 501.4 million shares in aggregate, or 41%, to vote in favour of the resolutions.

Looking ahead, the company said it expects Andrew Hayward to step down as a director and chief financial officer upon completion of the transaction, while Executive Chair John Conoley will cease to have an executive role within six months of completion.

"We have worked hard to reshape the core business into an asset that now has greater value as part of a complementary entity within the Seamless organisation. This is good for our customers, and importantly should provide better opportunity for many of our people who have worked hard to get the company to this point," Conoley said.

"Looking forward, the focus of the eServGlobal board will solely be on its relationships with HomeSend and Mastercard as the board continues to seek to maximise the value of the asset for eServGlobal shareholders," added Conoley.

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25 Jul 2019 15:28

eServGlobal Sells Core Business And Changes Name; CFO Resigns

(Alliance News) - eServGlobal Ltd on Thursday said it has completed the sale of its core business for EUR2 million and its chief financial officer has now resigned.The company, "a with

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12 Jun 2019 10:15

Morses Club Hires Andy Hayward As Finance Head From eServGlobal

(Alliance News) - Doorstep lender Morses Club PLC on Wednesday announced the appointment of eServGlobal Ltd's Andrew Hayward as chief financial officer.Hayward, who will join Morses at

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6 Jun 2019 11:45

REPEAT: eServGlobal Gets EUR2 Million Drawdown Request From HomeSend

LONDON (Alliance News) - eServGlobal Ltd on Thursday said it has received the first drawdown request from HomeSend SCRL under the loan facility.Homesend is jointly owned by eServGlobal and

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6 Jun 2019 11:42

eServGlobal Secures HomeSend Drawdown Request For EUR2 Million

LONDON (Alliance News) - eServGlobal Ltd on Thursday said it has received the first drawdown request from HomeSend SCRL under the loan facility.Homesend is jointly owned by eServGlobal and

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28 Feb 2019 10:55

eServGlobal Annual Loss Narrows On Lower Sales Costs

LONDON (Alliance News) - eServGlobal Ltd on Thursday said its annual loss narrowed significantly despite a slight dip in revenue.For 2018, the digital transactions technology company, a of

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11 Feb 2019 15:33

eServGlobal secures new €1m contract with Asia Pacific customer

(Sharecast News) - Digital transactions technology company eServGlobal has signed a new contract with an existing customer in Asia Pacific worth around €1m.

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11 Feb 2019 11:09

eServGlobal Signs New EUR1 Million Contract In Asia Pacific

LONDON (Alliance News) - Digital transactions technology company eServGlobal Ltd said Monday it has signed a new GBP1.0 million contract with an existing customer in Asia Pacific.The has a

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31 Jan 2019 11:51

eServGlobal wins two Middle Eastern contracts for €1m

(Sharecast News) - eServGlobal on Thursday inked two new contracts for its flagship PayMobile solution with existing customers in the Middle East, representing a combined total value of approximately €1m.

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22 Jan 2019 13:58

FireAngel Safety Appoints New Chair, Moves Whitworth To Director Post

LONDON (Alliance News) - FireAngel Safety Technology Group PLC said Tuesday that it has appointed John Conoley as non-executive chair with immediate effect.The fire alarms supplier added to

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2 Jan 2019 13:49

eServGlobal Chair Now Part-Time As Firm Ready To Divest Core Business

LONDON (Alliance News) - eServGlobal Ltd said Wednesday its executive chairman is moving to a part-time role as it is now fully prepared for the divestment of its core business and has funding in

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10 Dec 2018 16:13

eServGlobal drops on full-year revenue warning

(Sharecast News) - eServGlobal's shares dived after it warned on Monday that year-end revenue is now expected to fall below expectations but said that its breakeven point for next year has been reduced.

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10 Dec 2018 15:07

eServGlobal Forecast Lower Than Expected Annual Revenue

LONDON (Alliance News) - eServGlobal Ltd said Monday that it expects its annual revenue for 2018 to be between EUR7.0 million and EUR7.5 million, lower than previously forecast.eServ shares

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29 Nov 2018 12:22

eServGlobal To Take Part In Investee's Financing Round To Retain Stake (ALLISS)

LONDON (Alliance News) - eServGlobal Ltd said Thursday that it will take part in its investee's, HomeSend SCRL, capital raise in order to retain a 35.68% stake in the firm.HomeSend is

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29 Nov 2018 08:12

eServGlobal's HomeSend joint-venture 'progressing well'

(Sharecast News) - Digital transactions technology outfit eServGlobal updated investors on its HomeSend joint-venture with MasterCard and BICS on Thursday, bringing the market up-to-date on the project's status since the firm's successful £19m fundraiser back in September.

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