Change to Executive Director Remuneration

25 Apr 2014 07:00

eServGlobal (AIM:ESG & ASX: ESV), the provider of end-to-end mobile financial services to emerging markets, advises that it has varied the remuneration of Paolo Montessori, CEO and Managing Director and Steve Blundell, the Company's CFO and Finance Director by establishing a retention bonus arrangement. Each of Mr Montessori and Mr Blundell will, provided they are an employee of the Company and have not given notice of resignation at the payment date, receive 5 quarterly retention payments of A$100,000 (£55,000 approx) with the first payment to occur on 1 May 2014. The balance of any payments will be immediately payable to Mr Montessori and Mr Blundell, subject to the Australian Corporations Act 2001 and the ASX Listing Rules, if their employment is terminated by the Company following a change of control of the Company.

This announcement is made pursuant to ASX Listing Rule 3.16.4.

About eServGlobal

eServGlobal (AIM:ESG, ASX:ESV) offers mobile money solutions which put feature-rich services at the fingertips of users worldwide, covering the full spectrum of mobile financial services, 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.

Together with MasterCard and BICS, eServGlobal is a joint venture partner of the HomeSend global payment hub, a market leading solution based on eServGlobal technology and enabling cross-border money transfer between mobile money accounts, payment cards, bank accounts or cash outlets from anywhere in the world regardless of the users location.

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

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