UK small cap earthport has struck a deal with Legendary Investments, the investment company led by Shami Ahmed, for the commercial exploitation of its electronic payments products in Pakistan and Asia.
As part of the agreement, Legendary has subscribed for 10 million Earthport shares at 2.5 pence each.
Earthport has also granted options over a further 50 million shares, exercisable at various prices by 31 December 2004.
Earthport shares were up nine per cent on the news, standing at 2.73 pence by mid-day from an overnight close of 2.5 pence.