TIDMNEO

RNS Number : 5327A

Neovia Financial PLC

02 February 2011

 
 Press release   For immediate release

NEOVIA Financial Plc

NEOVIA announces the completion of the acquisition of Optimal Payments

Wednesday 2 February 2011 - NEOVIA Financial Plc (LSE: NEO) (the "Company"), the leading alternative payments business, is pleased to announce that the Company has completed the acquisition of Optimal Payments (the "Acquisition") which was announced on 20 January 2011.

Admission

The admission of 5,367,378 ordinary shares of 0.01 pence ("Ordinary Shares") in the Company to trading on the AIM market of the London Stock Exchange ("Admission") issued in relation to the Acquisition occurred on 31 January 2011.

Directors and directors' shareholdings

Following completion of the Acquisition and pursuant to the terms thereof, Joel Leonoff's appointment as an executive director of the Company became effective.

Following Admission and pursuant to the terms of the Acquisition, Joel Leonoff is now beneficially interested in 330,178 Ordinary Shares (representing 0.26% of the Company's issued share capital). Following Admission Keith Butcher is beneficially interested in 84,530 Ordinary Shares (representing 0.07% of the Company's issued share capital).

Following completion of the Acquisition and pursuant to the terms thereof, Joel Leonoff is also indirectly interested in warrants having the right to be converted into Ordinary Shares dependent on certain performance criteria being achieved over each of the next two years. The total value of these warrants may be up to US$ 2.5 million and depending on the timing and circumstances of any conversion, the exercise price of these warrants will be either 62.6990 pence or 66.2480 pence.

Issued share capital and voting rights

Following Admission, the Company will have a total of 125,288,331 Ordinary Shares in issue each with voting rights. The Company does not hold any shares in treasury. Therefore the total number of voting rights in the Company is 125,288,331.

Shareholder meeting

As announced on 20 January 2011, the Company intends to change the name of NEOVIA Financial Plc to Optimal Payments Plc. An extraordinary general meeting of the Company's shareholders will be held on Monday 28 February 2011 at the Company's offices in the Isle of Man to consider this proposal. A circular and proxy form setting out the terms of the resolution to be considered and full details of the meeting will be sent to the Company's shareholders later today, and copies of these documents will be available on the Company's website at www.neovia.com.

Enquiries:

 
 NEOVIA Financial Plc 
  Andrew Gilchrist VP Communications 
  Email: investorrelations@neovia.com 
  Twitter: https://twitter.com/neovia    + 44 (0) 1624 698 713 
 Citigate Dewe Rogerson 
  Sarah Gestetner                        + 44 (0) 207 638 9571 
 Daniel Stewart & Co Plc 
  Paul Shackleton                        + 44 (0) 207 776 6550

* * * * *

About NEOVIA Financial

Trusted by consumers and merchants in over 160 countries to move and manage billions of dollars each year, NEOVIA Financial Plc operates the world's leading independent online payments business. Through its Payment Suite, featuring NETELLER(R), NETBANX(R) and Net+(TM) brands, NEOVIA specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed NEOVIA to support thousands of retailers and merchants in many geographies and across multiple industries.

NEOVIA Financial Plc is quoted on the London Stock Exchange's AIM market with a ticker symbol of NEO. Subsidiary company NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about NEOVIA Financial visit www.neovia.com or subscribe at www.neovia.com/feeds/.

About Optimal Payments

Optimal Payments is a leading global payment processor that provides credit/debit card and e-check (Direct Debit) solutions to Internet and mail-order/telephone-order (MOTO) merchants in Canada, the United States Europe, and the Caribbean, processing in excess of US$ 2.5 billion in transactions annually. In operation for over 10 years, Optimal Payments was one of the first technology companies to provide services in the electronic payment business. Its head office is in Montreal, with additional offices in the United States; Gatineau, Quebec; and the United Kingdom. Optimal Payments develops and maintains proprietary software, which enables its merchant clients to interface with various banks, credit and debit card providers, and other entities involved in the payment processing chain. Its software has advanced and highly effective fraud- and risk-management components built into it, allowing the company to assist clients in mitigating the risk of fraudulent transactions. Its software and payment solutions are tailored to the needs of individual clients so that the services match their needs in a wide range of businesses with varying requirements. Visit www.optimalpayments.com for more information.

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQUGUPUPUPGUBP

Neo Energy Metals (LSE:NEO)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Neo Energy Metals Charts.
Neo Energy Metals (LSE:NEO)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Neo Energy Metals Charts.