15th Jun 2009 11:19
eServGlobal Announces Management Changes and Share Issue
Sydney, 15 June, 2009
eServGlobal Limited (LSE: ESG & ASX: ESV), a provider of end-to-end solutions, enabling smart communication, charging and payment services, today announced the appointment of a new senior management team and an issue of new shares to that team.
Mr Richard Mathews has been appointed as the company's new Chief Executive Officer and Mr Craig Halliday as the company's new Chief Operating Officer. Prior to joining eServGlobal, Mr Mathews was CEO of Mincom, a global enterprise software company and Mr Halliday was its COO. Together over three years, they turned around Mincom's business, increasing its share price by over 250% before steering the sale of the company to a private equity group.
eServGlobal Executive Chairman, Mr Ian Buddery said, "Mr Mathews and Mr Halliday are experienced international software executives who have aggressively grown established businesses, turned around underperforming businesses and acquired companies in countries across the globe including Australia, Brazil, China, Chile, France, Germany, Japan, South Africa, Spain, Taiwan, UAE and USA. Richard and Craig add a new depth of experience to the eServGlobal management team and their past experience correlates with our business objectives and financial goals."
Mr Mathews said "eServGlobal has unique products and positioning, in fast growing emerging markets - with significant long term growth opportunities. Craig and I are very much looking forward to working with the eServGlobal customers and other stakeholders to build upon what is already an impressive international company".
The current Chief Executive Officer, Mr Laurent Lafarge, will leave the company on 17 July.
"Mr Lafarge has led the company through a period of significant development" commented Ian Buddery, Executive Chairman of eServGlobal. "He has helped us to position for long term growth, particularly in the mobile payment and remittance markets. We wish him every success in the future."
Share Issue
Mr Mathews and Mr Halliday are also investing in eServGlobal, via their company, MHB Holdings Pty Ltd (MHB). Mr Mathews and Mr Halliday are not directors of eServGlobal.
A placement of 24,595,440 newly issued ordinary shares, at A$0.33 per share will be made today, 15 June 2009, raising A$8,116,495. 17,322,713 shares will be issued to MHB and 7,272,727 shares will be issued to Mr Halliday. Following this issue, eServGlobal will have 196,661,038 shares and 3,923,478 options issued.
eServGlobal Executive Chairman, Mr Ian Buddery said, "This investment indicates Richard and Craig's commitment to the company and their alignment with shareholder interests. The capital raised will assist with our restructuring and new product development programs and ensure that the company is equipped for a strong recovery. "
About eServGlobal
eServGlobal (AIM: ESG & ASX: ESV) develops and implements solutions for mobile payment, convergent charging and rating, network services and messaging products, for telecom service providers, across all legacy and next generation telecom networks.
eServGlobal provides comprehensive services ensuring the success of projects with worldwide implementation, integration and support services. Its innovative solutions help service providers to grow new revenues, reduce churn and lower their costs.
Over 80 of the world's leading service providers, with over 400 million mobile subscribers in more than 50 countries, are taking advantage of eServGlobal's end-to-end solutions and expertise to quickly deliver revenue-generating services. With 16 offices around the world and staff from 30 different countries, it provides flexible solutions with ongoing product development, based on a deep understanding of its customers' challenges.
eServGlobal is listed on the Australian Stock Exchange (ASX: ESV) and the London Stock Exchange AIM market (LSE: ESG). More information can be found at: www.eservglobal.com
Ian Buddery
Executive Chairman
+61 2 9364 2700
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