Vipera PLC Acquisition and Subscription (2223M)
July 27 2017 - 1:02AM
UK Regulatory
TIDMVIP
RNS Number : 2223M
Vipera PLC
27 July 2017
For immediate release 27 July 2017
VIPERA PLC
("Vipera" or the "Company" or the "Group")
Acquisition and Subscription
Vipera (AIM:VIP), the cutting edge provider of mobile financial
services and digital customer engagement solutions, is pleased to
announce that it has exchanged contracts to acquire SoftTelecom
Desarrollos I Mas D S.L. ("SoftTelecom"), and has received
applications to subscribe for 40,000,000 new ordinary shares in
Vipera (the "Subscription Shares") to raise EUR2.5M before expenses
at a price of 5.5540 pence per subscription share.
Acquisition of SoftTelecom
Founded in 2005 and based in Madrid, SoftTelecom is a software
solutions house, serving clients in the banking, payment service
provider including real time payments and telecommunication fields
with solutions primarily focused around payment technology and
point of sale developments. The company has customers in Spain, the
Netherlands and UK.
SoftTelecom, whose principal owner is retiring, has a team of
two sales staff and 18 software engineers, a significant proportion
of whom are recent computer science graduates. SoftTelecom focuses
on leading edge, open source technologies with current projects
including PSD2 (Second Payments Services Directive) and blockchain
developments.
In the year to 31 December 2016, SoftTelecom had a turnover of
EUR788,000 and an operating profit of EUR247,000. At 31 December
2016, it had net assets of EUR734,000. The company is enjoying
strong growth.
SoftTelecom sits well with Vipera's objective of continued
product development, and in particular, of being a launchpad for
expanding Group sales into the Spanish market with a local delivery
capability in the Iberian region.
Vipera is acquiring SoftTelecom for a consideration of EUR1.3M
of which EUR250,000 is subject to retentions to be released over
two years.
The Subscription
In a subscription arranged by the Company, Banca Sella Holding
S.p.A ("Sella Bank Group") has subscribed for its own account
EUR2,485,680 for 40,000,000 new ordinary shares of 1p each
("Ordinary Shares") in Vipera at a price of 6.2142025 euro cents
per Ordinary Share.
Sella Bank Group is a long-established Italian private bank
based near Milan and is a pioneer in digital banking. It has a
major market presence in the Italian e-commerce systems market and
has been an early adopter of a range of new technologies. They have
recently engaged Vipera in relation to some pilot projects and
expressed a strong interest in Vipera's product evolution
strategy.
In addition, a senior manager of SoftTelecom will subscribe, at
completion of the acquisition which is expected shortly, EUR9,943
for 160,000 new Ordinary Shares in Vipera, at the same price as
Sella Bank Group.
Total Voting Rights
Application has been made for the 40,000,000 new Ordinary Shares
to be admitted to trading on AIM. Admission is expected to occur at
8am on 28 July 2017. Application will be made to the London Stock
Exchange for the 160,000 Ordinary Shares to be issued and admitted
to trading on Completion as appropriate.
The total number of ordinary shares in issue following the
transactions announced today will be 320,429,725 (the "Enlarged
Issued Share Capital") with each Ordinary Share holding one voting
right. There are no Ordinary Shares held in treasury.
The above figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in the Company, under the Disclosure and Transparency Rules.
Commenting on these transactions, Chief Executive Officer of
Vipera, Marco Casartelli said: "Our acquisition of SoftTelecom
allows us to strengthen the sales resource dedicated to the Spanish
market and widen our product development in areas such as PSD2 and
blockchain solutions. We are encouraged by SoftTelecom's strong
growth and look forward to integrating the business and welcoming
the team to the wider Vipera group. The investment from Sella Bank
Group is a welcome vote of confidence in our product route-map and
the prospects for the future evolution of digital banking."
Contact:
Vipera PLC
Marco Casartelli (CEO) Tel: +39 02 8688
Martin Perrin (CFO) 2037
Simon Pearce (CMO) Tel: +44 (0)
20 7193 0833
Tel: +44 (0)
207 097 8632
finnCap Ltd (Nomad and Broker) Tel: +44 (0)
Adrian Hargrave / Anthony Adams 20 7220 0500
(Corporate Finance)
Camille Gochez (Corporate Broking)
IFC Advisory Ltd (Financial Tel: +44 (0)
PR and IR) 203 053 8671
Tim Metcalfe
Graham Herring
Heather Armstrong
About Vipera:
Vipera Plc (AIM:VIP) a cutting edge Mobile Financial Services
and Digital Customer Engagement Solutions provider, serves
financial institutions worldwide with differentiated mobile
banking, card management and customer engagement capabilities based
around its proprietary bank grade multi-purpose platform, Motif.
Additionally, it provides consultancy and other services to banks
and financial institutions. For further information, please visit
www.vipera.com
This information is provided by RNS
The company news service from the London Stock Exchange
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