MonoBank PLC / Mergers & Acquisitions/Mergers & Acquisitions 16.04.2009 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- MonoBank PLC acquires UK Logic PLC and enters Mobile Money Transfer Market London, United Kingdom - (For immediate release) - April 15th, 2009 MonoBank PLC, a company specializing in offering prepaid debit solutions to the credit challenged consumer market, is pleased to announce the acquisition of 95% of the outstanding shares of UK Logic PLC. The all stock transaction is subject to further due diligence and the approval of regulatory authorities; MonoBank expects to close the transaction in 30 days, at which time the particulars will be released. UK Logic PLC, a private UK company, develops mobile payment technology solutions and holds an exclusive license for a Mobile Banking System (MBS) and Mobile Money Transfer System (MTTS) enabling clients to use their mobile phone or the internet to transfer money worldwide. UK Logic MBS allows customers to complete money transfers (value transfers) and simple financial transactions using their mobile phone or PDA utilizing SMS messaging services and a stable and secure financial transaction software platform. The World bank and GSM association estimates that the global mobile money transfer and banking activities will double the number of recipients of money transfers to more than 1.5 billion from 200 million in 2006 and will quadruple in size creating a market of $1 Trillion dollars by 2012 from $250 billion dollars in 2006. Mobile money transfer services are gaining popularity in developing countries where far more people own mobile phones than have bank accounts. The global money transfer industry transaction revenues are expected to reach 18 billion by next year, according to Aite group. Monobank PLC management is excited by this acquisition as it represents an extension of our current product offering and allows us to generate revenues from the billion dollar money transfer market. Once the transaction is complete, MonoBank plans to launch the MonoRemit money transfer service in June of 2009. About MonoBank PLC MonoBank PLC, a company incorporated in London, England was founded with the vision of providing products and services to credit challenged prospects. The company's mission is to provide a variety of products and services to the credit challenged and to continue to develop new first-to-market prepaid and debit card programs, building on consumer acceptance and brand recognition while ensuring customer satisfaction. We know that each customer has specific needs. At MonoBank PLC, we strive to meet those specific needs with quality service and individual attention. We pride ourselves in giving customers the lending options they are looking for. Disclaimer & Safe Harbor Statement: This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. 'Safe Harbor' Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains certain 'forward-looking' statements within the meaning of the Private Securities Litigation Reform Act of 1995. For further information please contact: MonoBank PLC. Investor Relations Department + 44 (0) 20 7788 7986 email: info@monobankplc.com Copyright (c) 2009 MonoBank PLC. All rights reserved. DGAP 16.04.2009 ---------------------------------------------------------------------------
DGAP-News: MonoBank PLC acquires UK Logic PLC and enters Mobile Money Transfer Market
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