Mi-Pay Group PLC Contract Extension and Notice of Results (6662Q)
21 February 2019 - 6:00PM
UK Regulatory
TIDMMPAY
RNS Number : 6662Q
Mi-Pay Group PLC
21 February 2019
21 February 2019
Mi-Pay Group plc
("Mi-Pay", the "Group" or the "Company")
Contract Extension and Notice of Results
Mi-Pay (AIM: MPAY), the leading provider of outsourced digital
transformation and mobile payment solutions, is pleased to announce
an extension to a client contract and notify the date of its annual
results announcement for the year ended 31 December 2018.
Contract Extension
Mi-Pay is pleased to announce that it has today agreed a
contract extension with a long-term existing client (the "Client")
for an incremental five-year period, effective from 1 January 2019.
This client represented approximately 12% of annual revenue in 2018
(approximately GBP0.4m), a growth of 33% over 2017. The contract
extension is on broadly similar terms to the previous contract with
the Client. The Board of Mi-Pay expects to deliver continued growth
within this Client account as its customers naturally migrate to
digital payment channels and as the Client targets wider European
growth.
The Client is the first Mi-Pay customer to successfully adopt
Apple Pay as an alternative payment method. Mi-Pay will
additionally deliver wider European alternative payment methods of
Sofort, Giropay and iDeal to support the Clients' European growth
aspirations. These payment solutions are expected to enhance
Mi-Pay's appeal across the European market.
Michael Dickerson, Chairman of Mi-Pay Group plc commented: "We
are delighted to have secured the extended terms with our valued
client and look forward to working with them to drive wider
European growth. The additional ability to demonstrate alternative
payments is increasingly important for our long term growth as we
look to broaden our service offerings."
Notice of results
The Company's full year results for the year ended 31 December
2018 will be announced on Wednesday 24 April 2019.
Management will be hosting a presentation for analysts on the
day of results. For more information contact
Florence.chandler@investor-focus.co.uk.
For further information please contact:
Mi-Pay Group plc Allenby Capital Limited IFC Advisory
Tel: +44 207 112 Tel +44 203 328 5656 Tel: +44 203 053 8671
2129
Michael Dickerson, James Reeve Graham Herring
Chairman John Beale, Asha Chotai Tim Metcalfe
CEO Heather Armstrong
About Mi-Pay Group
Founded in 2003, Mi-Pay Group plc delivers fully outsourced
online and related payment and fraud management solutions to
digital ecommerce clients, primarily in the mobile and digital
content sector. Its product offering provides the infrastructure to
enable pre-paid mobile devices to be topped up via a variety of
channels such as websites, mobile applications and social media
applications and customers include Mobile Network Operators (MNOs)
and Mobile Virtual Network Operators (MNVOs), additionally managing
and indemnifying the data security and payment fraud risks. Mi-Pay
sells, integrates and operates its products and solutions on a
global basis. For further information, please visit www.Mi-Pay.com
or contact details as shown above.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCBRGDDSXDBGCG
(END) Dow Jones Newswires
February 21, 2019 02:00 ET (07:00 GMT)
Mi-pay (LSE:MPAY)
Historical Stock Chart
From Apr 2024 to May 2024
Mi-pay (LSE:MPAY)
Historical Stock Chart
From May 2023 to May 2024