RS2 plc - Interim Directors’ Statement

On 13 May, RS2 Software plc published its Interim Directors’ Statement updating the market on developments since the start of the current financial year on 1 January 2015.

In April 2015, RS2 concluded a new agreement with Viet Capital Bank, a  bank in Vietnam offering a comprehensive set of financial services including personal, business and premium banking. This agreement, which was initially announced via a press release earlier in the day, marks a significant step in the Group’s plans for further penetration across the Asian market.

During the period under review, Rs2 also reported that it concluded one of the letters of intent with a UK processing company which has now advanced to the stage of contract negotiation.

In the meantime, RS2 continued to intensify its marketing and sales drive by increasing sales resources and participating in industry conferences and events thus ensuring that RS2 and BankWORKS maintain a consistent high profile in the market. These activities are reportedly generating positive leads that are expected to increase business prospects throughout the coming months.

The announcement also noted that the construction of the office in Gozo progressed significantly and is expected to be completed and operational by the third quarter of this year.

In a separate announcement, RS2 noted that on 13 May the Board of Directors agreed that during the forthcoming Annual General Meeting scheduled for 9 June 2015, an extraordinary resolution (special business) will be submitted for shareholders to approve a 2:1 share split. As such, the current issued share capital of 44,999,956 ordinary shares of a nominal value of €0.20 each will be redesignated into 89,999,912 ordinary shares of a nominal value of €0.10 each. This share split is effective 16 June 2015 which includes trades up to and including Friday 12 June.