eServGlobal Limited Result of Open Offer & Total Voting Rights (3624G)
05 August 2016 - 4:34PM
UK Regulatory
TIDMESG
RNS Number : 3624G
eServGlobal Limited
05 August 2016
5 August 2016
eServGlobal Limited (AIM: ESG, ASX: ESV) ("eServGlobal" or the
"Company")
Result of Open Offer & Total Voting Rights
eServGlobal (LSE: ESG.L & ASX: ESV.AX), the provider of
end-to-end mobile financial services to emerging markets, is
pleased to announce that following the close of the Open Offer it
has been approached by several institutional investors through the
Company's Australian broker, Veritas, to collectively take up more
than the shortfall of 53,764,016 Ordinary Shares arising from the
Open Offer (Shortfall Shares). After considering the benefit to the
Company's balance sheet of the additional cash and the potential to
reduce debt, the Board has resolved to place the whole of the
Shortfall Shares with two existing institutional investors in
Australia.
Following completion of the issue of the Shortfall Shares, the
Company will have raised approximately GBP15.3 million pursuant to
the Placings and Open Offer following the shareholder approval at
the Extraordinary General Meeting held on 22 July 2016.
The Placings and the Open Offer has greatly improved the
Company's balance sheet and the Company looks forward to the
continued recovery of the core software business and the future
growth which we continue to see in the Homesend business
Admission of the 20,645,928 Open Offer Shares on AIM is expected
to take place at 8.00 a.m. on 8 August 2016. The issue of the
53,764,016 Shortfall Shares and their admission to AIM is expected
to occur on 12 August 2016.
Following the issue of the Open Offer Shares the Company will
have 586,419,980 Ordinary Shares on issue. Following the issue of
the Shortfall Shares, the Company will have 640,183,996 Ordinary
Shares in issue. There are no shares held in treasury. The total
voting rights will therefore be 586,419,980 until 12 August 2016
and then 640,183,996 and Shareholders may use this figure as the
denominator by which they are required to notify their interest in,
or change to their interest in, the Company under the Disclosure
and Transparency Rules.
Terms defined in the Circular published by the Company on 22
June 2016 shall have the same meaning in this announcement unless
the context requires otherwise.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
eServGlobal Limited via Alma PR
John Conoley, Executive Chairman
finnCap Limited, Nomad and
Joint Broker +44 (0) 20 7220 0500
Corporate Finance - Jonny Franklin-Adams,
Carl Holmes, Anthony Adams
Corporate Broking - Tim Redfern
Veritas Securities Limited,
Joint Broker (Australia) +61 2 8252 3200
Robert Scappatura
Alma PR (Financial Public
Relations) +44 (0) 20 8004 4218
Hilary Buchanan / John Coles
/ Josh Royston
This information is provided by RNS
The company news service from the London Stock Exchange
END
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