Wameja Di Regulatory News (WJA)

24 Nov 2005 11:17

eServGlobal Limited24 November 2005 The following replaces the AGM Statement release on 23 November under RNS number 5372U. The 3rd from last paragraph has been updated and now reads "with revenue growthabove 20%, compared to the corresponding period in fiscal 2004" instead of "withgrowth above 20%." The full amended text appears below eServGlobal LimitedAnnual General Meeting23 November 2005 Chairman's Address Ladies and Gentlemen, If 2004 was the year in which eServGlobal recovered its forward momentum, then2005 was the year that demonstrated our true potential. We produced a record sales performance in fiscal 2005, delivering 33% revenuegrowth and a $4.1 million (before AIM listing costs) EBITDA result. Among manyhighlights in the year, we won our first major contract in India, entered into amajor new OEM partnership and delivered our first Next Generation Networkdeployment for a major fixed line carrier in Europe. Throughout the year, we continued our ambitious partnering program, workingbehind the scenes with the biggest names in network equipment, billing andsystems integration. The results of this effort will be demonstrated during thecourse of 2006, in both sales results and market positioning. The growth in our share price during 2005 reflects the share market's growingconfidence in our future. The growth in the number of UK Institutions on ourregister, reflects our strength in the international investment market. Since the close of the 2005 fiscal year, we have completed our acquisition ofFerma, a telecommunications software company with a major presence in theinternational pre-paid and messaging market. eServGlobal is now the world's largest independent supplier of IN software,delivering solutions and services to 75 carriers in 50 countries, via bothdirect sales and OEM partnerships with major switching equipment and billingsoftware vendors. The combination of the two companies creates sales leverage as we cross-sellinto our respective customer bases; it creates technology leverage as we closegaps in each others offering; and it creates geographic leverage as we gain animmediate presence in new markets. We are now well progressed with the business integration and we are delightedwith the results so far. We are confident that our operations will be fullycombined within the next months and will be producing strong revenue growth bythe close of our 2006 fiscal year. We are expecting an excellent first half result, with revenue growth above 20%,compared to the corresponding period in fiscal 2004. The Ferma revenuecomponent will accrue from November and the outlook here is strong also.Together, we are confident of producing another record year in 2006 and beyond. We will continue to focus on delivering accelerated value growth to ourshareholders; we will continue to explore strategic Merger & Acquisition andsharemarket growth opportunities; and we will continue to be an agent of changein the global telecommunications industry. I will now ask our Chief Executive, Mr Pat McGrory, to address you. Ian Buddery Executive Chairman eServGlobal Limited This information is provided by RNS The company news service from the London Stock Exchange