SUPERB RESULTS

REG - Optimal Payments PLC - Interim Results19 Sep 2012 - 07:01

For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20120919:nRSS5828Ma RNS Number : 5828M Optimal Payments PLC 19 September 2012 Optimal Payments Plc Interim Results for the six months ended 30 June 2012 Strong first half growth, on track to exceed full year market expectations Optimal Payments Plc (LSE: OPAY) ("Optimal Payments", the "Group" or the "Company"), a leading online payments provider, today announces its results for the six months ended 30 June 2012. Highlights · EBITDA(1) up 76% to $11.2m (H1 2011: $6.4m). · Revenues up 37% to $78.9m (H1 2011: $57.4m). Fixed costs marginally down following headcount reduction in Q1. · Profit before tax $1.7m (H1 2011: loss of $4.1m). · Strong organic growth from NETBANX Straight Through Processing division ("STP"), up 68% to $61.9m (H1 2011: $36.9m) with continued strength and growth in Asia. · NETELLER Stored Value ("SV") revenues down to $16.2m (2011:$18.0m(2)) principally as a result of the fallout from Black Friday(3) in H1 2011. § Initiatives undertaken in H1 have produced improved results in second half to date. Major investment in NETELLER SV platform now complete and cost base aligned. § US online gaming opportunity taking shape. · Strong demand from existing customers and from new customers won during the first half including Ford Credit, Hockey Canada and Rona. Commercial agreement signed with Lotus F1 Team. · Strong H1 revenue exit run rate positions the Company for further growth in second half and on track to exceed the market consensus full year expectations. Financial summary (unaudited) Six months ended 30 June 2012 2011(5) US$ million US$ million Revenue Straight Through Processing (NETBANX bureau & gateway services) 61.9 36.9 Stored Value (NETELLER eWallet & Net+ cards) 16.2 18.0 Stored Value - discontinued revenues (4) - 2.1 Investment income 0.7 0.4 Total Revenue 78.9 57.4 EBITDA (1) 11.2 6.4 Profit/(loss) before tax 1.7 (4.1) Tax (charge)/recovery (6) (2012 charge relates to 2004/5 period) (2.5) 0.5 Net loss for the period (0.8) (3.6) (1) EBITDA is defined as results of operating activities before depreciation and amortisation and exceptional non-recurring items which are defined as items of income and expense of such size, nature or incidence, that in the view of management their disclosure is relevant to explain the performance of the Group. (2) Excluding discontinued revenues - see note 4. (3) "Black Friday" refers to the regulatory action taken in April 2011 against certain major poker operators which resulted in many players ceasing to play poker worldwide. (4) Discontinued revenues were derived from e-money expiry which is now subject to different rules under the Electronic Money Regulations 2011. (5) 2011 comparables include only 5 months of revenues and costs from the OP Inc business acquired on 1 February 2011. (6) Tax charge in the period relates to expected reassessment of 2004/5 Canadian taxes following a review by the Canadian Revenue Agency which commenced in 2005. The Board has made a full provision for the amount it believes it is likely to be required to pay in respect of withholding taxes and interest. See note 17 in the Financial Statements for more detail. Commenting on today's results announcement, Joel Leonoff, President & CEO, said: The combination of NETELLER and OP Inc. has produced a multi-faceted payment product offering and positioned the emerged business Optimal Payments Plc to benefit from a rapidly evolving online payment market. Our efforts have resulted in a fully integrated and right-sized business with an efficient cost base. Our operationally geared business model, continued focus on product development and R&D, along with our strong presence in the internet payment market have combined to produce significant organic revenue and EBITDA growth. Our H1 results and strong foundation position the Company well for further growth in H2. The online payment industry continues to consolidate and the Group should benefit from the expected significant growth in both the online and mobile commerce markets. We see substantial opportunities to provide innovative solutions to merchants and consumers in both the NETELLER eWallet and NETBANX

Looking at their Corporate Governance I would suggest this is going to go up very soon. A couple of news bulletins on their site.

StockMarketWire.com
Berenberg reiterates buy on Optimal Pay, target raised from 520p to 655p.

Interesting Blog on OPAY here........

http://wheeliedealer.weebly.com/blog/my-rationale-for-buying-optimal-payments-opay

CannacordBuy
Target: 600p

Valuation
Shares are now trading at an unjustified discount to peers, in our view. Shares have
fallen 22% over the last two months and now trade at large discounts to peers
(Bloomberg FY2 EV/EBITDA: Optimal 7.8x, Safecharge 13.2x, Wirecard 14.3x, UK
payment processors subsector 14.2x). Despite its low multiples, we expect Optimal to
grow EBITDA 30% compared to 27% for Safecharge, 25% for Wirecard and 18% for
the UK payment processors subsector.
Share performance catalyst
We expect a strong full year trading update.

Another big drop today - ugh!!

It could be due to Share Prophets 3M, they have put out an article suggesting that Opay may have been involved in a similar Director share deal as Quindell: a case of 'watch this space' maybe.

I think you can read that article for free if you register on the shareprophets website, 3monkies.

Ouch - I hope you haven't lost too much on this 3monkies.

Not lost anything yet only a load of profit - it is really ouch though!!!! Can't find the registration for the share prophets website doodlebug. I really hope this goes back up as fast as it is falling.

3monkies, if you go to the website www.shareprophets.com you will find a link to an article---" Optimal payments- is this the sixth company in the Equities First Scandal?
By Nigel Somerville, The Deputy Sheriff of AIM | Friday 14 November 2014" --------- and if you click on the link you will be asked to complete a registration to read the rest.

Statement re Share Price Movement

Optimal Payments PLC (LSE AIM: OPAY) ("Optimal Payments" or the "Company"), a leading online payments provider, notes the recent speculation and weakness in its share price, and wishes to provide the following statement.

Director's Dealings

In relation to the Director's Dealings announcement on 1st April 2014 concerning Joel Leonoff, the Company's CEO, the announcement made at that time was correct. However given the current speculation the Company is providing more information around the arrangement. The Company can confirm that Mr Leonoff entered into a master loan and pledge agreement with Equity First Holdings, LLC ("EFH") on 31 March 2014.

As announced on 1 April 2014, Mr Leonoff pledged 1,500,000 shares (the "Pledged Shares") as collateral for a loan of approximately £4 million (together the "Loan"). Mr Leonoff pays interest of 3% on a quarterly basis to EFH on the Loan, together with a financing arrangement fee of 1.5% and is obligated to repay the Loan three years from the closing date of the agreement. Mr Leonoff will receive from EFH a credit of all dividends paid on the Pledged Shares during the term of the Loan once the Loan is repaid. For the purposes of securing the Loan, during the period of the Loan Mr Leonoff has transferred title and voting rights in the Pledged Shares. In the event of a default by Mr Leonoff EFH would be entitled to set off Pledged Shares to the value of outstanding monies owed.

EFH will not exercise any voting rights attached to the Pledged Shares. For the period of the Loan EFH has committed not to engage in any short selling in, or lending of, the Company's shares.

Mr Leonoff has a material interest in the equity of the Company. Mr Leonoff's interests in the equity of the Company are stated below:

Director

Number of Ordinary Shares

% of issued share capital

Total Number of Awards remaining under the LTIP

Joel Leonoff

4,133,843* - 2.5% - 2,566,007

* Includes the 1,500,000 shares pledged to EFH as collateral on the Loan

The total number of shares in issue and voting rights in the Company is 162,629, 664.

i'm too stupid to understand whether or not this is the same sort of nonsense as perpetrated by QPP
please can someone elucidate

Me too cynic , because unless there is some serious skullduggery these look like a buy.

This is worth a read as sheds some light on what happened.

http://wheeliedealer.weebly.com/blog/my-thoughts-on-opay-shenanigans

You are here:Home/
Media/
News & Press Releases/
Statement re Director’s Dealings and Share Price Movement







Optimal Payments PLC (LSE AIM: OPAY) (“Optimal Payments” or the “Company”), a leading online payments provider, notes the recent speculation and weakness in its share price, and wishes to provide the following statement.

Director’s Dealings

In relation to the Director’s Dealings announcement on 1st April 2014 concerning Joel Leonoff, the Company’s CEO, the announcement made at that time was correct. However given the current speculation the Company is providing more information around the arrangement. The Company can confirm that Mr Leonoff entered into a master loan and pledge agreement with Equity First Holdings, LLC (“EFH”) on 31 March 2014.

As announced on 1 April 2014, Mr Leonoff pledged 1,500,000 shares (the “Pledged Shares”) as collateral for a loan of approximately £4 million (together the “Loan”). Mr Leonoff pays interest of 3% on a quarterly basis to EFH on the Loan, together with a financing arrangement fee of 1.5% and is obligated to repay the Loan three years from the closing date of the agreement. Mr Leonoff will receive from EFH a credit of all dividends paid on the Pledged Shares during the term of the Loan once the Loan is repaid. For the purposes of securing the Loan, during the period of the Loan Mr Leonoff has transferred title and voting rights in the Pledged Shares. In the event of a default by Mr Leonoff EFH would be entitled to set off Pledged Shares to the value of outstanding monies owed.

EFH will not exercise any voting rights attached to the Pledged Shares. For the period of the Loan EFH has committed not to engage in any short selling in, or lending of, the Company’s shares.

Mr Leonoff has a material interest in the equity of the Company. Mr Leonoff’s interests in the equity of the Company are stated below:

Director
Number of Ordinary Shares

% of issued share capital

Total Number of Awards remaining under the LTIP


Joel Leonoff

4,133,843*

2.5%

2,566,007


* Includes the 1,500,000 shares pledged to EFH as collateral on the Loan

The total number of shares in issue and voting rights in the Company is 162,629, 664.

For further information contact:

Optimal Payments Plc
Jessica Stalley, Head of Investor Relations
Tel: +44 (0) 207 182 1707

Canaccord Genuity Limited
(Nominated Adviser & Broker)
Simon Bridges / Cameron Duncan
Tel: +44 (0) 20 7523 8000



Statement re Director’s Dealings and Share Price Movement

The very first time after all these years I have copied and pasted - wow never too old to learn, just hope opay does as well.

well done. :-))

Exactly the same as in post 631!!!!! ;o)

StockMarketWire.com
Optimal Payments said the strong trading reported in H1 has continued into H2 across all markets.

The Company's NETELLER and NETBANX businesses have both delivered good revenue growth and profitability in the year to date.

As a result of the trading in the year to date, and in advance of the traditionally strong, seasonal trading in December, the Company currently expects its financial results for 2014 to be at least in line with market expectations.

The Company has achieved a number of significant milestones in 2014: the launch of its new NETELLER and NET+ offerings in the US, positioning the Company well for the re-opening US gaming market; the attainment of Principal Membership status with Visa and MasterCard in Europe strengthening its NETBANX offering; and the successful completion in July of the Meritus and GMA acquisitions to expand its US presence.

Following the acquisitions of Meritus and GMA, the Company's largest merchant now represents approximately 25% of the Company's monthly revenues and this percentage is expected to continue to reduce. These achievements have all been important strategic goals as we continue to deliver on our stated objectives.

Bought in this morning .