Earthport, the global payments utility, is pleased to announce the following update on the Company's Strategic Review ("Review"), which commenced on 30th June 2009:
The Review was instigated by the Board in response to a number and variety of significant new opportunities that had recently come to the Company's attention.
As a direct result of the Review process, the Company has been able to initiate new discussions and also accelerate existing negotiations with global corporations. The Review continues to give the Company significantly increased visibility with key decision makers and these opportunities are now moving towards closure, with an anticipated delivery of revenue in the near term.
Also, the Board was particularly encouraged that some of these enquiries and discussions have been of an investment nature (ranging from partial investment to total acquisition) with a variety of large, recognised organisations. This will continue to be a possible option for the remainder of this review and the Board will update shareholders as appropriate.
The Company intends to provide a more comprehensive announcement on the Review during the second half of September but will make earlier announcements if appropriate.
The Board has noted, with regret, recent negative press speculation surrounding the Company and the Review, which the Board herewith confirms is both ill informed and incorrect.