Australia's EML Payments rises on sale of Sentenial business

EML Payments

03/09/2024 03:52

** Shares of EML Payments  EML.AX  rise as much as 6.4% to
A$0.750
    ** Payments firm finishes sale of its "unprofitable"
Sentenial platform to GoCardless for 32.75 mln euros ($36.24
mln)
    ** EML, which acquired Sentenial in 2021 for 70 mln euros,
says proceeds will be used to retire debt, strengthen balance
sheet
    ** Co will receive earnout payment from GoCardless for the
contracts signed by Sentenial between Feb. 1 and Oct. 2 this
year
    ** Stock down 10.8% so far this year, as of last close

($1 = 0.9037 euros)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))