LONDON, MONTREAL and NEW YORK (16 December 2014) — Optimal Payments Plc (LSE AIM: OPAY, "Optimal Payments" or the "Company") notes the recent weakness in its share price and provides the following statement.
Further to the trading update in November, the Company confirms that trading in the year to date has been strong and expects Optimal Payments' financial results for 2014 to be at least in line with market expectations. The Company's NETELLER and NETBANX businesses are both expected to deliver good revenue growth and profitability in the year to 31 December 2014 and the integration of the US businesses, acquired in July, is progressing well. Optimal Payments continues to deliver on its stated strategic objectives and remains confident in the outlook for organic and accretive inorganic growth.
Dennis Jones, Non-executive Chairman of Optimal Payments, added: "I'm delighted we have selected Brian McArthur-Muscroft as our new CFO, after an extensive and rigorous search process. With a clear mind to the future, the Board wanted a strong candidate with a proven track record of contributing to the growth of large companies who could assist us with our own ambitious growth strategy."
The appointment of Brian McArthur-Muscroft as Chief Financial Officer and to the board of Optimal Payments was fully endorsed by the Board, following a comprehensive search for a suitable candidate by a leading executive search firm.
About Optimal Payments Plc
Optimal Payments is a global provider of online payment solutions, trusted by businesses and consumers in over 200 countries and territories to move and manage billions of dollars each year. Merchants use the NETBANX® platform and services to simplify how they accept credit and debit card, direct-from-bank, and alternative and local payments; and the NETELLER® service to increase revenues and capture new customers. Consumers use the multilingual and multicurrency NETELLER and Net+® Card stored-value offering to make secure and convenient payments. In July 2014, Optimal Payments acquired Meritus Payment Solutions and GMA as part of the company’s commitment to strengthen its presence in the US market. Optimal Payments Plc is quoted on the London Stock Exchange’s AIM, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorised and regulated as an e-money issuer by the UK’s Financial Conduct Authority (FRN: 900015).
For further information contact:
Head of Investor Relations
Optimal Payments Plc
+44 207 182 1707
Canaccord Genuity Limited (Nominated Adviser & Broker)
Simon Bridges / Cameron Duncan
Tel: +44 (0) 20 7523 8000
Media Contacts – United Kingdom:
Simon Hudson/Andrew Dunn/Simon Fluendy
+44 20 7920 3150
Media Contacts – Canada:
Linda Farha/Beverly Brooks