Appointment of Non-Executive

RNS Number : 3702R

Bango PLC

20 August 2010

 



20 August 2010

Embargoed until 07:00

BANGO PLC

("Bango" or "the Company")

Appointment of Non-Executive Director, Formalisation of Commercial Relationship and

Additional Listing

The board of Bango plc (AIM:BGO.L), the mobile web payments and analytics company, makes the following announcements;

1)   Appointment today of David Sear as a Non-Executive Director.

2)   Formalisation of commercial relationship with RIM.

3)   10,000 new Ordinary Shares of 20p each ('New Ordinary Shares') have been issued and allotted following exercises of employee options.

1) Appointment of David Sear as a Non-Executive Director

The board of Bango plc (AIM:BGO.L), the mobile web payments and analytics company, announces the appointment today of David Sear as a Non-Executive Director.  David Sear is Divisional Managing Director at Travelex Global Business Payments, a company which specialises in international and domestic payment and receipt processing services and solutions.

David joined Travelex in March 2006 from Voca Ltd (previously BACS), where he helped to transform the company at the centre of the UK's payments industry. Prior to Voca, David was Chief Operating Officer at WorldPay Group plc., a major global player in the adoption and development of e-Commerce. Earlier in his career David spent seven years at Equifax Cheque Services, the world's largest cheque guarantee company, becoming European Managing Director.

Ray Anderson, CEO of Bango, said: "I have great pleasure in welcoming David Sear to the board. He has exceptional experience in international payments and a great understanding of the complexities of the cross-border remittance market.  Bango is increasingly involved in cross-border money transfer and new payment mechanisms. We expect David's experience and independent perspective will be valuable in growing Bango's business in these areas."

David Sear, Non-Executive Director of Bango, commented: "Bango is the leader in mobile web payments and analytics. With its business partners, it is in a unique position to capitalise on the growth in sales of applications, content and services to users of mobile devices and I look forward to helping Bango realise its potential."

Matters for disclosure under paragraph 17 of the AIM Rules with respect to the appointment of David Sear as a Non-Executive Director of Bango plc:

Full name: David Valentine James Sear

Age: 46

Current Directorships:

Travelex Global Business Payments Ltd

Travelex Payments Ltd

Directorships held within the last 5 years:

Onevu Ltd

Travelex Currency Services Ltd

Travelex Card Services Ltd

Travelex Banknotes Ltd

There are no other matters which are required to be announced with regards to this appointment as outlined under paragraph (g) of Schedule 2 of the AIM rules.

2) Formalisation of Commercial Relationship with RIM

Further to the "Commercial Discussions with RIM" announcement on April 20th relating to Bango being introduced as ''the Merchant of Record for carrier billed transactions" for BlackBerry App World, Bango confirms that it has now formalised the commercial agreement with RIM. Technology to support this agreement is now in test. Bango will update the market as appropriate as this project, which is at an early stage, progresses.

3) Additional Listing

Bango also announces that 10,000 new Ordinary Shares of 20p each ('New Ordinary Shares') have been issued and allotted following exercises of employee options.

Application has been made to the London Stock Exchange for the New Ordinary Shares, which will rank pari passu with the existing shares in issue, to be admitted to trading on AIM, and admission is expected to become effective on 25 August 2010.

The Company's total issued share capital after the admission of the New Ordinary Shares will be 35,984,462 Ordinary Shares.  The Company does not currently hold any shares in treasury. This figure of 35,984,462 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. 

For further information please contact:

Bango plc	Threadneedle Communications	Cenkos Securities plc
Tel. [phone]	Tel. [phone]	Tel. [phone]
www.bango.com	Tom Moriarty	Ken Fleming
Ray Anderson, CEO	Caroline Evans-Jones	Jon Fitzpatrick
Peter Saxton, CFO	Fiona Conroy

About Bango

Bango (AIM: BGO) provides technology that enables commerce on the mobile web.

Bango enables businesses of all sizes to collect payment for music, games, applications, videos and services sold to internet connected mobile phone users.  Bango is able to charge payments to mobile phone bills or use other billing methods such as credit card based on intelligence about the consumer. Bango also provides an analytics service that provides accurate information about visitors and the effectiveness of marketing activities for mobile web sites.

Visit www.bango.com.

 

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