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EML PAYMENTS LIMITED — Capital/Financing Update 2013
Aug 28, 2013
64847_rns_2013-08-28_61d00edb-41bd-4c9a-ace1-d6af06d7271b.pdf
Capital/Financing Update
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29 August 2013
ASX Market Announcements Australian Securities Exchange Limited 20 Bridge Street SYDNEY NSW 2000
RELEASE FROM VOLUNTARY ESCROW
Emerchants Limited ( emerchants ) (ASX:EML) announces that it has released Globetrotter Group Pty Ltd’s ( Globetrotter ) remaining fully paid ordinary shares ( Shares ) from voluntary escrow, totalling 5,332,400 Shares. In addition, emerchants has released Emerchants Holdings Pty Ltd’s ( EMH ) Shares from voluntary escrow totalling 4,167,600 Shares. The Shares were to be held in voluntary escrow for 3 years expiring on 18 July 2014.
As announced on Monday, 26 August 2013, emerchants received overwhelming demand and support in the recent placement from institutional investors, which was significantly oversubscribed.
To cater for the additional demand for emerchants’ Shares, emerchants resolved to grant an early release of Globetrotter’s and EMH’s Shares from voluntary escrow and facilitate the disposal of those Shares. Emerchants wishes to advise that the disposal of the 9,500,000 voluntary escrowed Shares has been completed.
ABOUT EMERCHANTS
emerchants is a payments solutions provider of prepaid financial card products and services in Australia. By using their proprietary Secure Account Management (SAM) system, the Company provides its clients with innovative financial service payment solutions for reloadable and nonreloadable pre-paid card programs. emerchants are able to adapt to meet the expense management and funds disbursement needs of any organisation. Their corporate expense, petty cash, per diem, social payments and staff rewards programs are easy to implement and reduce administration burden and costs. emerchants is focused on the twin goal of delivering high quality payment systems to its customers and superior returns to its shareholders.
For more information please visit: www.emerchants.com.au
For further information please contact:
Rod North , Managing Director Bourse Communications Pty Ltd T: (03) 9510 8309, M: 0408 670 706 E: [email protected]
Head Office| Level 2, 26 Commercial Road, Newstead, QLD 4006 Postal| Locked Bag 5, Fortitude Valley, BC, QLD 4006| Phone 07 3607 0100| Free Phone 1300 739 889 Emerchants Limited ACN | 104 757 904