EML Agreement with NSW Health

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    EML PAYMENTS LIMITED (ASX: EML) (“EML”) confirms its press release made
    earlier today that it has been awarded a 5 + 2 year agreement with NSW Health to
    be its provider of branded General Purpose Reloadable card programs for employee
    Salary Packaging.
    The agreement was mentioned in an article in today’s Australian Financial Review,
    and an earlier version of the press release posted on EML’s website this morning
    was also circulated on a commentator’s Twitter feed.
    EML confirms and clarifies that whilst it considers that the agreement is an
    acknowledgment of EML’s leading position in the Salary Packaging industry, in the
    context of the PFS transaction announced in November 2019 and EML’s worldwide
    payments business:
    • the agreement does not meet ASX Listing Rule materiality requirements for
    continuous disclosure; and
    • EML does not intend to update financial guidance previously provided to the
    As set out in the press release available on EML’s website
    (https://www.emlpayments.com/wp-content/uploads/2020/01/EML-Awarded-MultiYear-Agreement-with-NSW-Health_r.pdf), once fully transitioned from the incumbent
    provider to EML, we expect NSW Health to transition approximately 49,000
    employees participating in salary packaging to an EML program.
    EML is the largest provider of payment solutions to the Salary Packaging industry
    with more than 185,000 benefit accounts already in market. Including this contract,
    EML expects to provide services to more than 300,000 benefit accounts by April
    2022.Total annual GDV for the salary packaging vertical is expected to be
    approximately $2.3 billion once this transition, and programs currently in transition,
    have been completed.

    courtesy of Bell Direct

    ( DYOR )

    i no longer hold this share

    i bought in as a gold explorer AAO and it morphed into this but i lost patience and sold in May 2017 ( but making a nice profit over the time )

    one of those decisions that may come back to haunt ( or look like genius 10 years down the track )

    good luck holders

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