RS2 Software plc – Interim Directors’ Statement

RS2 Software announced that the company continues building on the momentum of the past months in efforts to generate further new business on the licensing aspect as well as for its service-providing and managed services arm under its subsidiary RS2 Smart Processing Ltd. On the licensing part, RS2 is in intensive and advanced negotiations to conclude various agreements with new clients. RS2 is also expanding the relationship with existing clients by negotiating additional licensing and services agreements. These agreements are expected to be concluded and signed in the early months of 2014. 

On the service providing and managed services side, RS2 continues to increase the boarding of new merchants and increasing its processing volumes. It also has healthy business prospects for new customers to be signed up in 2014. 

RS2 is actively considering a presence in the Latin American market by opening a support and sales office in the region in 2014. 

The second half of 2013 was characterised by the conclusion of the investment of Barclays Bank PLC (Barclays) in the Company. The first tranche of the investment was concluded on 9 October 2013 when Barclays acquired 10% of the share capital of RS2 from ITM Holding Limited. In line with the Company Announcement dated 30 August 2013, where the directors announced that such acquisition was part of a wider transaction for Barclays to acquire up to 20% shareholding in RS2, the final part of the investment was concluded on 4 November 2013 where Barclays acquired an additional 8.25% of the share capital of RS2. 

To view the official company announcement, click here.