RS2 Software plc - Interim Directors Statement

On 18 May, RS2 Software plc published its Interim Statement covering developments during the first quarter of 2012. RS2 announced that its Q1 financial statements are in line with budgets and the Company continues to be very active in working to attract new business from new and existing clients, with positive prospects in the pipeline.

RS2 also provided an update on the major property investment current taking place. The company explained that the development is moving fast and is on target for a complete move of all operations by the third quarter of this year. The property will give RS2 the premises that matches its international profile to attract customers that are larger players in the market. Moreover, the property investment also opens up opportunities to venture into new business segments, such as the planned managed services.

In the Interim Statement, RS2 also announced that it set up a new fully owned subsidiary, RS2 Smart Processing Ltd, as the Group’s managed services arm. RS2 explained that this new venture will complement and enhance the service offering by providing clients with both alternatives available for their card management and processing business, that is licensing and managed services.