RS2 plc - Interim Directors’ Statement

On 16 May, RS2 Software plc issued its Interim Directors’ Statement updating the market on developments since the start of 2013. The announcement explained that the important milestone during the period under review was the inauguration of the new subsidiary, RS2 Smart Processing Ltd. This subsidiary offers managed services and is ideally placed to capitalise on the opportunities being presented by the current climate within the cards and payment industry. In this respect, the Directors reiterated that the subsidiary has been awarded a contract by a major payment processor in Europe which went live in April 2013. The developments on the managed services side was achieved following the certification obtained from the Payment Card Industry (PCI) Council on the back of successfully meeting the requirements for hardware and connectivity security, physical security on the premises as well as the BankWORKS software platform.

With respect to the licensing  and servicing aspect of the business, the Directors explained that a positive outlook has been maintained during the initial months of this year and this is expected to carry on throughout the year with the possibility of concluding further licensing agreements in the coming months.