This company floated on AIM today. Already recording spectacular growth (see announcement). Could be a rival for paypal and (conceivably) Earthport, but branching into other areas such as the currently clumsy 'swift' banking.
Well worthy of close inspection.Floated today i bought in just below float price, of 200p, @197.55p.

NETeller joins AIM. Announcement as follows:

"NETeller plc, one of the leading online money transfer services, is pleased to announce the admission of its shares to trade on the Alternative Investment Market (AIM) of the London Stock Exchange plc.

Highlights:



In conjunction with the AIM Admission 15,000,000 new ordinary shares have been placed on behalf of the Company at a price of 200p per share. In addition 2,500,000 existing ordinary shares have been placed at a price of 200p on behalf of selling shareholders

As a result 30 million has been raised for the Company and 5 million for selling shareholders.

The Directors intend that the net proceeds of the Placing will be used for website development, to make acquisitions, and for general working capital.

The principal purposes of the Admission are to create a public market for the Company’s ordinary shares; to raise its profile and status; to enable employees to be incentivised by the grant of options in publicly traded shares; and to provide access to capital.

Canaccord Capital (Europe) Limited (“Canaccord”) is the Nominated Adviser and Joint Broker for the Admission. Durlacher Limited is also Joint Broker to the Admission.


Commenting on today’s announcement, Gord Herman, CEO of NETeller said: “The level of institutional support for NETeller’s placing has been very satisfying. Having successfully completed this stage of the Company’s development we are now committed to getting on and delivering for our shareholders.”
- Ends -


Overview
The NETeller Group operates an online money transfer service that utilises and extends the existing international banking structure to provide a secure means of transferring funds worldwide. A NETeller System account is like a virtual wallet which enables Members (an individual who has opened a NETeller account) to deposit, withdraw and transfer funds to any Merchant (or internet site) that supports NETeller System online payments for goods or services. In June 1999, Stephen Lawrence, the founder and major shareholder of the NETeller Group, conceived the idea of an ‘e-wallet’ that could be used to fund Internet based transactions without the security risk of processing each transaction at each separate Merchant site. In August 1999, John Lefebvre teamed up with Stephen Lawrence to develop the concept and to assist with raising capital.

As at 31 December 2003, there were approximately 586,500 Members using the NETeller system, growing at 1,600 per day. At the same point there were 1,250 Merchants registered to use the NETeller System. Since processing began in July 2000, an average of 30 new Merchants have been added each month.

To date the most receptive market segment to NETeller Group’s ‘e-wallet’ concept has been the online gambling market.

In 2000, private funds of US$200,000 were raised to establish the NETeller Group. Growth to date has been financed by internally generated cash flow.

Gord Herman, was appointed Chief Executive Officer in February 2003 and under his stewardship NETeller HAS INCREASED MONTHLY REVENUE from US$866,000 (September 2002) to approximately US$4.335m (December 2003). In the year ended 31 August 2003, NETeller generated annual profits of US$13.5m, before other income and expense.

RNS Number:7922C
NETeller PLC
10 September 2004


NETELLER PLC

NETeller plc signs up it 1,000,000th member

10th September 2004

NETeller plc, a leading online money transfer service provider, officially
signed up its 1,000,000th member on 6 September at 6:09 PM, reaching this
significant milestone only four years after the Company's inception.

Gord Herman, Neteller President and CEO said "Neteller signed up its first
member in July of 2000. Attracting 1,000,000 members this quickly is a major
achievement and is testament to Neteller's strong customer service focus. With
1500 online merchants serving our 1 million members from over 100 countries,
Neteller has established itself as a truly global money transfer service."

Mr. Herman also added, "Based on our expected growth, we plan to achieve the 2
million member mark within the next 12 months."


Enquiries

Gordon Herman, Chief Executive Tel: 44 (0) 1624 698 703

Dale Johnson, VP Strategy & Corporate Development Tel: +44 (0) 1624 456 705

Citigate Dewe Rogerson Tel: +44 (0) 207 638 9571
Sarah Gestetner/Seb Hoyle/George Cazenove


Notes to Editors

The NETeller Group

The NETeller Group operates an online money transfer service that utilises and
extends the existing international banking structure to provide a secure means
of transferring funds worldwide. A NETeller account acts as a virtual wallet
that enables members (individuals who open NETeller accounts) to deposit,
withdraw and transfer funds. Funds can be instantly transferred to or from any
merchant (or internet site) that supports NETeller's online payments system for
goods and services. Additionally, funds can be transferred between members in
peer-to-peer exchanges.

NETeller listed on the London AIM market in April 2004 (Ticker: NLR).


This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAUKRSRSORKRAR

Just purchased some of these, these guys really know how to gen cash...

Lets hope it contiunes

Still rising and yet very little press comment I'm holding on to mine for when the City wakes up to the potential in this company. Thanks Simon for info.

Still going the good way, moneyplus, how long have you held these???
The only thing that concerns me with this share is any change in the gambling laws in the US that could harm its markets...

Bought at 165 just a few weeks before results. I am watching them slip back now but i think the long term price is way above current levels. cant make a decision on taking profits or not---it only needs a few tip sheets/analysts to start talking about them for the price to go north again.

This one is really taking off again-anyone have any info. on why?? I am tempted to take some profits but think this has great long term promise.

Have just read that they have been authorised by the FSA opening new markets for them. Good stuff-anyone else still in?

moneyplus - RNS out today, approval from FSA. Do not sell yet these are going higher. Fantastic growth on a low p/e.

capa

moneyplus - NETeller
up 18% today on news of authorisation from fsa to oporate as a reglated
e-money issuer.
also the momentum investor tipped this stock in this months issue @ 2.49
and views it as a potential multibagger, i am holding on as news will almost
certainly be positive following fsa approval.
hope this helps.

regards HUSTLER

Getting more excited by the minute to have finally picked a good!! I've had some real dogs lately so I'm holding on to this one. I feel it could go a long way up.

moneyplus - ditch those dogs and run your winners :-)

capa

I am glad I have hung in, still moving this morning, and that good news was mighty good :)

Simon

Expect some profit taking from lunchtime--then I hope more buying before the close. Who thinks 5 a share soon??

Expected some sort of retracement today, nice surprise to see hitting a new high instead.

capa

pleasent surprise to see still rising today as the market took a hit, support
still appears to be good,hang in for more.

regards HUSTLER

Some very large buys showing on Comdirect and only small sells-I think the institutions must be picking this up now. Still no real press comment though, I can't understand why all this good news and excellent trading is ignored!!
The SP will take off again when Shares and IC feature NLR. I'm hanging in!!

180,000 T trade, this could be ready for another push. So soon after the last one !!

capa

Can't believe there is so little interest on this bb !

Dil, don't complain about it, I always think it a good sign. Indicates that you have got in early before the herd and as such got a better price. Wait until these are being tipped by everyone at 4.00 and smile.

I started a thread on NRG when the price was under 1.40, nobody but me contributed so I gave up posting. Sold out a couple of months later at 1.70 for a nice 20% profit.

capa