RS2 Software plc - Interim Directors’ Statement

Thursday, November 14th, 2013

On 14 November, RS2 Software plc issued its Interim Directors’ Statement providing an update on its performance.

The Directors explained that the Company continues to build on the momentum of the past months in efforts to generate further new business for both its licensing activity as well as for service-providing and managed services (provided through the fully owned subsidiary RS2 Smart Processing Ltd).

On the licensing side, RS2 is in intensive and advanced negotiations to conclude various agreements with new clients whilst also expanding the relationship with existing clients by negotiating additional licencing and service agreements. These agreements are expected to be concluded and signed in the early months of 2014.

On the managed services side, RS2 continues to increase the boarding of new merchants and increasing its processing volumes. Furthermore, RS2 Smart Processing also has healthy business prospects with new customers to be signed up in 2014.

The Company is also actively considering a presence in the Latin American market by opening a support and sales office in the region in 2014.

In conclusion, the Directors noted that the second half of the year was characterised by the investment of Barclays Bank plc which apart from acquiring a GBP8.5 million licence also acquired an initial 10% stake in RS2 and subsequently raised its shareholding by a  further 8.25% to 18.25%.

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