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  5. SafeCharge extends acquiring agreement with Nayax

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SafeCharge extends acquiring agreement with Nayax

Mon, 11th Mar 2019 10:57

(Sharecast News) - Payments technology company SafeCharge announced on Monday that, in light of the success of its partnership with cashless payment solutions provider Nayax, they have agreed to extend the acquiring agreement between Nayax and SafeCharge to the end of 2024.The AIM-traded firm said that in conjunction with the extension, and under the terms of the agreement, it agreed with Nayax's founding shareholders that they would, by the end of 2022, buyback SafeCharge's shareholding in Nayax for a consideration equal to its cumulative investment of $24.5m plus 9% interest per year, calculated from 15 February 2018 until payment is received.In December 2016, the group made an initial $6m investment in Nayax.That was in exchange for approximately 4% of Nayax's issued share capital.At 31 December 2017, that initial investment was valued at $8.6m, including an unrealised gain of $2.6m that was recognised in other comprehensive income in the 2017 financial year.In February 2018, the company invested a further $18.5m in Nayax, taking the total investment by SafeCharge to $24.5m, representing around 11% of the issued share capital of Nayax.At 31 December, that cumulative investment was valued at $27.1m. "The investments in Nayax by SafeCharge included the grant of a put and call option between the parties to the investment such that Yair Nechmad, Amir Nechmad and David Ben Avi, together the Nayax founding shareholders, granted SafeCharge a put option to sell its interest in Nayax and the Nayax founding shareholders were granted a call option to purchase SafeCharge's interest in Nayax, each exercisable from 15 Feb 2020 up to 36 months post," the SafeCharge board explained in its statement."The purchase price of the put option would be at a value equal to the investment amount plus 9% interest per year, and the purchase price of the call option would be at a value of twice the investment amount."The option period to the agreement was varied on 17 January to enable SafeCharge to exercise the put option thereof."
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28 Nov 2018 09:46

SafeCharge sees full-year revenue ahead of market expectations

(Sharecast News) - Payments technology company SafeCharge hailed strong trading on Wednesday and said annual revenue should top expectations as it announced the appointment of a new chief operational officer.

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26 Sep 2018 15:44

Director dealings: Safecharge CEO cashes in £13m in Wednesday share sale

(Sharecast News) - Safecharge International chief executive David Avgi sold 3,995,185 ordinary shares in the AIM-listed payments technology company on Wednesday.

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13 Sep 2018 11:44

SafeCharge Profit Down As Focus On "High Quality" Clients Hits Margin

LONDON (Alliance News) - SafeCharge International Group Ltd on Thursday said its pretax profit fell in the first half of the year as its shift in focus towards high-quality low-risk customers for

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15 May 2018 12:48

SafeCharge Says Jeremy Nicholds Will Succeed Roger Withers As Chairman

LONDON (Alliance News) - SafeCharge International Group Ltd said Tuesday it has appointed current Non-Executive Director Jeremy Nicholds as deputy chairman with immediate effect.The company

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14 May 2018 13:00

SafeCharge Reports "Record" Revenues And Volumes In First Quarter

LONDON (Alliance News) - Payment technology company SafeCharge International Group Ltd said Monday the firm generated "record" revenues and transaction processing volumes for the first

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14 Mar 2018 11:22

SafeCharge Forecasts Further Earnings Growth In 2018

LONDON (Alliance News) - Payment technology firm SafeCharge International Group Ltd said Wednesday it expects further revenue and earnings growth in 2018 after reporting a for

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7 Mar 2018 16:11

UK Earnings, Trading Statements Calendar - Next 7 Days

Thursday March 8 G4SFull Year ResultsAvivaFull Year Year Year EnterprisesHalf 9

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16 Dec 2016 08:36

SafeCharge makes minority investment in Israeli cashless payments firm

(ShareCast News) - Payments company SafeCharge International Group has made a minority investment in Israeli firm Nayax, a provider of cashless payments for unattended machines, for an undisclosed amount. The AIM-listed company's cards and payments platform has been integrated with Nayax's technolog

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2 Dec 2016 12:18

SafeCharge trading in line with expectations as it targets tier one customers

(ShareCast News) - Mobile payment provider SafeCharge International said it was trading in line with expectations as it as it moves to gain tier one customers. The AIM-listed company said that trading ahead of the financial year end was "strong" and that full-year results are expected to be in line

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5 Oct 2016 09:17

SafeCharge secures Italian gaming site Sisal

(ShareCast News) - Safecharge, an AIM-listed advanced payment technologies outfit, announced that it has won Italian gaming client Sisal. The online gaming platform of the Italian group operating in the Gaming and Payment Services sector, Sisal.it, has selected SafeCharge to facilitate players' depo

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14 Sep 2016 08:37

Wednesday broker round-up

(ShareCast News) - Relx: Berenberg reiterates buy with a target price of 1600p. Standard Life: Deutsche Bank reiterates buy, 325p target. Arrow Globalik: Jefferies keeps at buy with a 359p target. Ocado: Exane BNP Paribas downgrades to underperform with a 215p target. SafeCharge: Berenberg stays

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13 Sep 2016 12:28

SafeCharge interim profit up but H2 growth seen more moderate

(ShareCast News) - Payment technology provider SafeCharge reported an increase in interim profit but said growth in the second half was likely to be more moderate than the first. In the six months to the end of June, reported profit after tax came in at $15.2m from $12.4m, on revenue of $52.2m, up 5

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28 Jun 2016 07:45

SafeCharge Trading Strong In First Half And Confident On Outlook

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14 Jun 2016 07:47

SafeCharge Sells 5% Stake In Germany FinTech Group For Small Profit

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20 May 2016 15:02

Dividends Calendar - Week Ahead

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