Net Element announces $2.5M share repurchase plan Net Element International announced that its Board of Directors adopted a plan to repurchase up to USD $2.5M of issued and outstanding shares of Net Element's common stock in the open market or in privately negotiated transactions during the 24-month period ending December 10, 2014. Net Element currently has approximately 28.3M shares of common stock outstanding.
Net Element pending acquisition PayOnline signs new 3-year contract Net Element announced signing by PayOnline of a new 3-year contract to process transactions for certain international dating networks, including AnastasiaDate, AmoLatina and AsianDate. Net Element currently manages, operates and is in the process of integrating the PayOnline group of companies pending closing of Net Element's acquisition of the company. The contract with the majority owner of the dating networks, Social Discovery Ventures, provides for minimum net revenues to Net Element in the amount of $1.2M over 3 years and a minimum transaction processing commitment of $300M. The contract underscores Net Element's advantage as a global payments-as-a-service platform that facilitates cross-border transactions yet on-boards through a single interface.