SPY smartpay holdings limited

Ann: GENERAL: SPY: SMARTPAY SHAREHOLDER SHARE PUR

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    • Release Date: 23/08/12 15:04
    • Summary: GENERAL: SPY: SMARTPAY SHAREHOLDER SHARE PURCHASE PLAN COMPLETED
    • Price Sensitive: No
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    SPY
    23/08/2012 13:04
    GENERAL
    
    REL: 1304 HRS Smartpay Holdings Limited
    
    GENERAL: SPY: SMARTPAY SHAREHOLDER SHARE PURCHASE PLAN COMPLETED
    
    AUCKLAND, 23 August 2012 - SmartPay (NZX: SPY), a leading provider of
    payments and transactional solutions in New Zealand and Australia, is pleased
    to advise that it has completed its Shareholder Share Purchase Plan (SPP)
    raising $925,000 from 109 shareholders.
    
    Managing Director, Bradley Gerdis, said "This is a welcome show of support
    from our existing shareholder base and a pleasing conclusion to our capital
    raising".
    "This final component brings the total equity raised in this capital raising
    to $17.3m which puts us ahead of our original target and takes us forward
    with a well capitalised balance sheet to facilitate our growth plans."
    
    Business Update
    
    With our capital raising process now complete, we are firmly focused on
    growing the business.
    
    We have begun the process of resourcing our Australian business to service
    the growth opportunities in that market and are currently working on a number
    of organic and strategic initiatives across both Australia and New Zealand
    consistent with our growth objectives.
    
    ASX Listing
    
    The Board is pleased to confirm that the process to list on the Australian
    Stock Exchange is underway and is on track for completion by the end of this
    calendar year.
    
    ENDS
    
    For further information contact:
    
    Ivan Hammerschlag, Chairman, SmartPay, + 61 417 44 29 29
    Bradley Gerdis, Managing Director, SmartPay, + 64 9 442 2717
    
    About SmartPay Holdings Limited
    SmartPay is a leading provider of integrated merchant services utilising the
    Internet and broadband connectivity.
    
    SmartPay's product set includes:
    1. The provision of EFTPOS terminals and related payments services.
    2. Transactional processing services, including for the taxi industry;
    Prepayment products; Bill payment solutions and Online Payments.
    3. Audio and video, music, messaging and media via its Retail Radio product
    set.
    
    For more information visit - www.smartpayltd.com
    End CA:00226359 For:SPY    Type:GENERAL    Time:2012-08-23 13:04:04
    				
 
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