BOX RNS Recap20 May 2016 16:21
I'm very delighted in the company update issued today and I'm sure I am not alone.
I would just like to highlight a few things from the RNS to show how well the company has operated throughout the suspension.
"The board of directors of Boxhill (the "Board") has made considerable progress since the announcement of 10 February 2016 (the "Announcement") on both the restructuring described in the Announcement and the integration of the newly acquired Emex (UK) Group Limited, and the associated company, FreePayMaster Limited (collectively, "Emex")."
Very reassuring that the company has not only continued to operate but has made "considerable progress" with EMEX and FreePayMaster.
"During the period of suspension of trading in the Company's shares, growth in the business has continued. The payments division has continued to win new customers across all areas of e-commerce."
Very encouraging that the company has continued to grow and attract more new customers further expanding the business.
"As part of this expansion, the Company has established a new 100% owned Maltese subsidiary, Boxhill Technologies (Malta) Limited ("BTM"), to focus on the expanding Maltese payments and gaming sectors."
A 100% owned company based in Malta to furthermore expand the business overseas and put the company on a wider global stage.
"The Board is pleased to announce that having received confirmation of the appropriate licences, FreePayMaster Limited is today launching its new set of services"
Acceleration in growth in FreePayMaster thanks to granted licences see's new services launched further propelling the companies progression.
"The Board can to confirm that the FCA has agreed with this position, and the "Unauthorised" status of PayCorp has been removed from the FCA Register."
The grey cloud looming over PayCorp by the FCA has now been removed with the FCA now agreeing with PayCorp's position.
"The Board anticipates that it will publish the Report and Accounts before the end of May, and at that point will seek a return from the suspension of trading of its shares on the AIM Market."
The sentence we where all looking for. BOX expecting to be publishing its 18 months accounts by the end of May. Which I predict being the tail end of next week. I'm very excited about those numbers to say the least!
"Phil Jackson will step down from the Board with effect from 20 May 2016 to concentrate on the development of the business, including the integration of the former PayCorp business into Emex, and the establishment and growth of FreePayMaster and BTM in Malta and other locations."
Phil Jackson stepping down to concentrate on business growth is another promising step towards expansion and development within the company.
"Clive Hyman joins the Board as a Non-Executive Director and brings with him over