eServGlobal works to stem rapid share price rise

A rise in the share price of eServGlobal in recent days led to an announcement from the company on Wednesday, confirming a potentially large deal was in the pipeline.

The AIM-traded provider of end-to-end mobile financial services to emerging markets confirmed it was in the final stages of negotiating a large contract.

“Though there can be no certainty at this stage that the contract will be signed, if successful, the contract will not increase the company’s current guidance to the market,” eServGlobal’s board confirmed in a statement.

It said if and when the contract was finalised, it would update the market by way of a further announcement.

“The company is not aware of any other explanation for the recent share price appreciation in its securities,” it added.

At 1527 BST, shares in the company were down by 7% and trading at 5.58p.