SmartPay (NZX: SPY), a leading provider of payments and transactional solutions in New Zealand and Australia, is pleased to advise that the resolution proposed at the SmartPay Holdings Limited Special Meeting of Shareholders held on 28 June 2012 was passed by the shareholders.
Incoming Chairman, Ivan Hammerschlag, commented as follows "This is a milestone for our Company. Today's approval by our shareholders cements the re-launch of SmartPay as a leading trans Tasman payments company".
Chief Executive, Bradley Gerdis, said "We are already seeing the early signs of the benefits of the restructure reflecting in the business. The last two months have seen our highest recorded monthly sales in our New Zealand business for over a year. We are also seeing broad based engagement from across the market which is generating a number of new opportunities for us. It is pleasing to see the momentum building which is a testament to the hard work put in by our team over the last few months".
"In Australia our growth pipeline continues to build but progress to date has been restrained by the previous lack of capital and resource. With our funding now in place we can now start to resource to execute on these opportunities."
The Board is pleased to confirm that Company has began the process to list on the Australian Stock Exchange.
The Board anticipates that the Company's shares will be dual listed on the ASX and NZX by the end of this calendar year.
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