12 Sep 2016 07:00
NEWS RELEASE
Billing Services Group Limited
("BSG" or the "Company")
Additional Information on LEC Notice
(September 12, 2016) San Antonio, Texas, USA and Aldermaston, United Kingdom - BSG, a leading provider of telecommunications clearing and financial settlement products, Wi-Fi data solutions and verification services, announces that, further to the announcement dated August 9, 2016 (see: 9 Aug 2016 : LEC Notice), the Company has continued to work with the local exchange carrier (the "LEC") to understand how the LEC will implement certain provisions of the Consent Decree and the result this may have on BSG's business. The most recent communication indicated that the LEC intends to take actions beyond what is required by the Consent Decree, and the Board is currently assessing the potential impact of these actions, if implemented. While the exact financial outcome of this remains to be determined, the Board currently believes that it will have some effect on revenue and earnings in the current financial year and a material effect in the future.
The Company is currently investigating alternative billing arrangements which could potentially offer several advantages over third-party billing through the LECs, and while optimistic in this regard, emphasizes this is still in its early stages. The Company also reiterates its dependence on the LECs.
The Company intends to release its interim results for the six months ended June 30, 2016 in due course when a further update will be provided.
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Inquiries:
Billing Services Group Limited +1 210 949 7000
Norman M. Phipps
finnCap Limited +44 (0)20 7220 0500
Stuart Andrews/Scott Mathieson
BSG Media Relations +1 210 326 8992
Leslie Komet Ausburn
About BSG:
BSG has locations in San Antonio, Texas, USA and Aldermaston, United Kingdom. The Company's shares are traded on the London Stock Exchange (AIM: BILL). For more information on BSG, visit www.bsgclearing.com