Milestone Group PLC Milestone Group Plc : Two New Contracts Worth Gbp0.5m

 
TIDMMSG 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Two New Contracts Worth GBP0.5m 
 
   Milestone Group Plc (Milestone), the AIM quoted (AIM: MSG) provider of 
digital media and technology solutions, announces that Black Cactus 
Holdings, which is in joint venture with Nexstar, a subsidiary of 
Milestone, has entered into contracts with two London-based finance and 
investment companies, to provide cloud-based virtual banking with an 
accompanying pre-paid card to their clients. 
 
   Both of these new contracts will be launched in the second quarter of 
the current calendar year and are expected to generate revenues in 
excess of GBP500,000 in the first full year of operation for the Nexstar 
joint venture, 40% of which would accrue to Milestone. These contracts 
represent the first the company has announced with regards to the 
Nexstar joint venture and Black Cactus' technology suite in this 
exciting new application area. 
 
   The technology suite, which these contracts are concerned with, is just 
one of a number of innovative technology solutions spanning several 
industries that the joint venture is involved with. 
 
   Deborah White, CEO of Milestone Group commented: 
 
   "This is an important milestone for the group as we start to see the 
exciting potential of the Nexstar Joint Venture. We are encouraged by 
the interest that has been shown in the suite of products and expect 
that this announcement is the first of a number of revenue enhancing 
deals to be announced." 
 
   For further information: 
 
   Milestone Group plc 
 
   Deborah White, Chief Executive                                Tel: 020 
7929 7826 
 
   Cairn Financial Advisers LLP, Nominated Adviser 
 
   Liam Murray / Avi Robinson                                       Tel: 
020 7148 7900 
 
   Hybridan LLP, Broker 
 
   Claire Louise Noyce 
Tel: 020 3764 2341 
 
   Walbrook PR Limited, PR 
 
   Gary Middleton / Paul Cornelius / Paul Whittington    Tel: 020 7933 8780 
 
   About Black Cactus 
 
   Black Cactus offers a suite of technology platforms and payment services 
including virtual accounts, closed and open loop pre-paid cards, payroll 
support and payment terminals, which can be offered as standalone 
solutions, or combined to address a partner's specific needs. The 
combination of a pre-paid debit card and virtual account will allow 
these new clients to avoid expensive transaction costs associated with 
traditional international banking and to streamline their existing 
processes. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
   HUG#2000884 
 
 
  http://www.milestonegroup.co.uk/

(END) Dow Jones Newswires

April 06, 2016 02:01 ET (06:01 GMT)

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