PAYNOVA CARRIES OUT TARGETED SHARE ISSUE
Paynova’s board has targeted a new share issue for just over SEK 6 million in line with the company’s established financing strategy to minimise dilution through bridge financing on business lines. Recently agreements have, for example, been signed with SJ, Swebus, WM-data and Ryanair, and further similar clients are being canvassed. The board has therefore now decided to only use a small part of the authorisation. The number of shares has been increased by 5.5 percent to 11.5 million.
At the Annual General Meeting on 6 May 2004 Paynova’s board was given authorisation to be able to make decisions regarding new issues of shares up to a total of 2,000,000 shares, without existing shareholders’ preferential rights. A small part of this authorisation has now been used as a result of the Erik Penser Fondkommission and the Jordanfonden jointly subscribing for 600,000 shares. The average closing price over the last ten trading days has been SEK 12.35 per share. After costs associated with the raising of capital and share issues, Paynova AB stands to gain approx. SEK 6.3 million. Once the issue has been registered, the total number of shares in Paynova AB will amount to 11,530,970.
In accordance with the quotation prospectus and authorisation, the board intends, during the autumn, to implement such further financing adjusted along business lines as is required in order to fulfil the ongoing proactive canvassing of the international market.
For further information, please contact:
Mats Jonnerhag, Information Manager, Paynova AB
Cell: +46 (0) 708-754 920, e-mail: email@example.com
Pelle Hjortblad, CEO Paynova AB
Cell: +46 (0)701-810 110 Phone: +46 (0)8-517 100 07,
Paynova (listed on NGM: PAY) offers businesses and consumers secure payment solutions for shopping via the Internet or mobile phone. An electronic wallet (e-account) is opened and topped up simply and easily, and can be used for making direct payments over the Internet. Over 100,000 Paynova Wallets have been opened by consumers, who then avoid having to supply their bank or credit card numbers to strangers over the Internet.
Businesses find that managing payments through Paynova results in lower costs for administration and redemption, and that they can receive payments from all over the world. More than 20,000 banks accept the wallet via VISA and MasterCard. Paynova currently has nearly 600 online shops connected. Specially adapted payment solutions are available for: Traditional online shopping (e.g. mail order) including Micropayments (e.g. online gaming), Mobile phone payments (e.g. Premium SMS), for special Industry needs (e.g. passenger transport and IT consultancy firms) and Partnership agreements (e.g. transaction management companies).