Thursday, 9 October 2008 NETELLER Plc (LSE: NLR), a leading independent, global provider of online payments, is pleased to announce that it is proposing to change its name to NEOVIA Financial Plc. A circular has today been sent to shareholders and is also available on the Company¹s website.
The new name represents a strategically important evolution for the NETELLER Group. It builds on a year long rebranding process to differentiate the parent company from the Group¹s operating brands of NETELLER, NETBANX and
Net+, each of which has a strongly established brand identity and reputation. The name, meaning ³New Way², supports the Group¹s strategic vision of providing differentiated, bold and exciting online payment solutions that target merchants and their ³online generation² customers.
Earlier this year the Group revitalised both its NETELLER consumer and NETBANX business brands, and has recently announced the relaunch of its Net+ card brand. The name change is expected to provide a broader umbrella for
future growth, as well as enhancing the Group¹s credibility with both merchant and end user customers, partners and regulators. It also positions the Group well for further progress in its financial services strategy. The Board therefore believes that it is appropriate to change the Company¹s name from NETELLER Plc to NEOVIA Financial Plc.
The change of name of the Company to NEOVIA Financial is subject to the passing of a special resolution at an extraordinary general meeting of the Company¹s shareholders which is to be held on Tuesday 11 November 2008 in
the Isle of Man. Further details are set out in the circular to shareholders.
Until the name change is effective, the Company will continue to trade under its present ticker symbol NLR. Thereafter, it is anticipated that the ticker symbol will be NEO. It is expected that the name change and ticker
change will become effective from Monday, 17 November 2008.