RS2 Software plc, the global payment processing and technology leader, held its Annual General Meeting on June 15, 2023. The meeting was very well attended, with shareholders actively and keenly participating.

In his opening speech, Chairman Mario Schembri expressed his appreciation to all shareholders for their steadfast support and ongoing encouragement despite the challenging environment over recent years. He then gave a high-level overview update on the company’s operations and expressed his optimism that the challenging times are behind the company and performance is expected to improve consistently in view of renewed air of optimism among existing clients and the strong business pipeline.

On his part, CEO Radi El Haj spoke of the company’s resilience through the tough COVID-19 pandemic and Ukraine conflict. He said that the company has now reached an encouraging inflexion point in its operations. The CEO gave a high-level overview of the strong business pipeline, explaining the company’s evolving business and development of services in terms of geographical expansion and diversification of its products and services globally.

The CEO declared that there are ongoing discussions on potential sizeable projects. If these materialized, it could not only translate into a significant increase in revenue in 2023 and future years but more so will enhance the company’s global presence and showcasing its potential and market capabilities.

Based on this, if the company’s positive performance continues, the company will be actively considering the issuance of an interim dividend during the current calendar year. The CEO also indicated that due consideration would also be given to the merits of initializing a share buyback programme given the dynamics of the local capital market.

During the meeting the appointment of the new CTO Antoine Cutajar was formally announced.