Wameja Di Regulatory News (WJA)

eServGlobal Limited (eServGlobal or the "Company")

AGM Statement

Sydney: 24 March 2015

eServGlobal (AIM: ESG & ASX: ESV), the provider of end-to-end mobile financial services to emerging markets, held its Annual General Meeting at 11am (AEDT) today in Sydney, Australia.

At the meeting the following statement was provided to shareholders on behalf of the Board:

"We are pleased to provide you with an overview of the 2014 financial year, which was a pivotal year for eServGlobal.

This has been a year of transition for eServGlobal. We maintained our return to a positive full year EBITDA. Adjusted EBITDA for 2014 was A$2.6m, compared to A$1.7m in 2013 but, due to a number of delayed projects, we did not quite meet market expectations.

We completed the creation of the HomeSend joint venture with MasterCard and BICS in April 2014. The hub is open to new markets and we are increasingly seeing the benefits of MasterCard's marketing and distribution networks.

During 2014, HomeSend's strategic priority was to focus on expanding the number of live corridors. The HomeSend international remittance hub now has 659 live corridors (compared to 59 at the same time last year and 486 only three months ago). The number of sending countries today is 233, which compares to a total of 99 sending countries only three months ago (December 2014) and the number of receiving countries is currently 32. In 2014 the number of transactions increased by 600% year on year.

The integration of HomeSend into MasterCard's MoneySend has begun and completion is expected this year. The partner marketing programme is accelerating with recent campaigns from XpressMoney and World Remit amongst others. The pipeline continues to grow and is a strong mix of Money Transfer Operators ("MTOs"), mobile money services and emerging digital players.

The Board's attention has been more recently focused on the development of the core business. The business is well positioned to capitalise on the predicted growth in mobile money in emerging markets. We have continued to invest in our technology platform and customer acquisitions. The increased mix of higher margin licence business is forecast to increase as the core business moves to a higher proportion of repeatable, high margin revenues and offering the opportunity to extend sales to existing customers.

We have been diversifying our customer base to bring in a greater mix of Financial Institutions to complement our strong footprint with Mobile Network Operators ("MNOs").

Our customer footprint now includes presence in four of the Tier 1 operators (Zain, Orange, Ooredoo and Vodafone). This increasing diversification in our customer base is allowing us to reduce customer concentration and extend our geographic reach.

We continue to build our pipeline, and we entered 2015 with a backlog 43 per cent higher than the same time last year.

To support the opportunity in our core business, we decided to further invest in the development of our product, together with the systems and processes to support customer delivery and service. We have historically undertaken significant customisation of our systems for our customers, the complexity of which has on occasion led to delays and cost overruns. We are now focusing on a single product platform which will offer rich features for our customers but be more straightforward to deliver. The investment in the platform will also address shortcomings we have recently identified in our project delivery. To this end, in December 2014 we raised A$5.5m though the placement of 10,000,000 shares. I would like to thank our shareholders for their continued support.

The past year has also seen a number of changes to eServGlobal's Board.

Duncan Lewis was appointed Chairman in July 2014. He was due to be here this week but unfortunately, a personal matter has prevented him from travelling.

Paolo Montessori stepped down as Chief Executive and Managing Director at the beginning of March. The search for his successor is progressing. We are using a global search firm and we have begun interviewing selected candidates.

Stephen Blundell, who has been an executive director on the Board since 2013, was appointed Chief Operating Officer in December 2014. We have appointed Andy Duffen as acting Vice-President, Finance.

Overall, eServGlobal is currently trading in line with our expectations, that being to produce revenues and EBITDA in 2015 that are at least equal to the 2014 financial year. The Board is mindful that we are a company of two parts - an established core business with increasing growth prospects and a start-up with high growth potential. We keep under continuous review the best ways in which to enhance shareholder value.

A focus of the Board is to strengthen and improve the coordination of eServGlobal's Investor Relations activities to address the needs of our international shareholder base.

We have a healthy pipeline of ongoing work in the core business, which will positively impact FY2015. We continue to make strong progress and are expanding our footprint within the Zain Group, following the framework agreement announced in 2013 and now have live services in Kuwait, Jordan and Saudi Arabia.

We have made good progress implementing our product strategy, and in particular, we are steadily delivering the projects which were delayed in the course of 2014. The challenges that we experienced in project delivery were due to a combination of several elements including project backlog from FY13, migration to a new technology platform, deploying in challenging geographies and regulatory delays in some markets.

We have completed development of our mobile money platform with positive customer feedback received so far.

Since the beginning of the year, MasterCard announced two new customers for HomeSend which were won through the MasterCard sales team. These are the first customers to be brought by MasterCard and demonstrates that they are now actively pursuing business for HomeSend. We remain extremely positive about our investment in the Joint Venture and the HomeSend Board is considering opportunities to accelerate growth and capitalise on HomeSend's "first mover" advantage. Seizing these opportunities may mean further investment from the JV partners later in 2015. Identified opportunities for acceleration include co-funded marketing initiatives to stimulate subscriber demand, a new data centre and acquisition of a banking licence. If these initiatives are approved the maximum total contribution from JV partners would be €10M (eServGlobal's contribution would be €3.5M).

Looking forward, we will aim to leverage our investment in our best-in-class PayMobile platform to support our transition to a product-led solution company and expand the number of subscribers using our solutions.

We would like to thank all our shareholders for their support on the journey so far, as well as all our employees for the effort and hard work that has gone into building the Company to the position it is today."

A further announcement with the results of the AGM votes will be released after the close of the meeting. The presentation delivered at the AGM is available on the Company's website at:

http://www.eservglobal.com/system/files/201503_eServGlobal_AGM_Presentation.pdf

About eServGlobal

eServGlobal (AIM: ESG, ASX: ESV) offers mobile money solutions which put feature-rich mobile financial services at the fingertips of users worldwide, covering the full spectrum of mobile wallet, mobile commerce, recharge, promotions and agent management features. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 65 customers in over 50 countries.

eServGlobal also builds on its extensive experience in the telco domain to offer a comprehensive suite of sophisticated, revenue generating Value-Added Services to engage subscribers in a dynamic manner. eServGlobal is partnering with MasterCard and BICS to build the HomeSend joint venture, the market leading international remittance hub service based on eServGlobal technology and enabling mobile money transfer in over 50 markets.

eServGlobal has been a source of innovative solutions for mobile and financial service providers for 30 years.

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