Milestone Group PLC Milestone Group Plc : Nexstar Strenghthens Joint Venture With Black Cactus

 
TIDMMSG 
 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Updated Nexstar Joint Venture Agreement 
 
   Milestone (AIM: MSG), the AIM and Social Stock Exchange quoted provider 
of digital media, technology and social impact solutions announces that 
its subsidiary Nexstar has updated and strengthened its agreement with 
its joint venture partner Black Cactus Holdings Limited and its 
affiliates. 
 
   The agreement gives Nexstar exclusive access to all intellectual 
property of Black Cactus with the additional IP and technical know-how 
specifically surrounding blockchain development and Fintech solutions. 
The terms of arrangement also allows for each party to commute 
commissions from sales generated via the agreement into stock in the 
other party up to a pre agreed level. 
 
   The additional IP includes Fintech, cryptocurrency, card payment 
services and media publishing and distribution. Black Cactus has for 
some years been funding and developing technology for Money over IP, 
payment solutions, media publishing and distribution and more recently 
commenced developing new applications and platforms utilising 
blockchain. 
 
   Nexstar's suite of technology is disruptive - it combines blockchain, 
social media and analytics to provide products and services allowing the 
end user with more control and security over the data and IP. 
 
   Blockchain is seen as important a development as the internet was 28 
years ago. A recent report from Santander estimated that blockchain 
could reduce banks infrastructure costs by between US$15 -20 billion per 
year by 2022. Aite Group recently said that bank spending on blockchain 
is expected to surge to US$400 million in the next 2 years. 
 
   One of the most exciting additions to this agreement is the upgrading of 
the Nexstar music publishing and distribution platform which will be 
underpinned by the blockchain technology allowing the artists to control 
their intellectual property, his payments and royalties. 
 
   In the $15 billion recorded music industry, musicians currently deal 
with a series of intermediaries such as publishers, distributers and 
record labels and as a result can earn as little as 14% of the proceeds 
of sales and wait months or years for payment. 
 
   The updated agreement also incorporates existing financial deals that 
Black Cactus has negotiated on its own behalf. This includes its 
relationship with Benefits on Madison, a Canadian Fintech development 
partner which has over 3000 customers globally from the banking, 
healthcare and insurance sectors and the public sector. Of these 
customers over 50% are Fortune 100 companies. 
 
   At present this additional IP is not revenue generating however the 
Company sees a big future commercial opportunity in the marketplace for 
these services and has already received some expressions of interest. 
 
   Deborah White, CEO of Milestone commented: 
 
   "This is an exciting development for the Company - it further enhances 
our technology offering and secures Blockchain development capability 
across our portfolio". 
 
   For further information: 
 
 
 
 
 
 
Milestone Group PLC 
Deborah White, Chief Executive                   Tel: [phone] 
 
Cairn Financial Advisers LLP, Nominated Adviser 
Liam Murray/Sandy Jamieson                       Tel: [phone] 
 
Hybridan LLP, Broker 
Claire Louise Noyce                              Tel: [phone] 
 
Walbrook PR Limited, PR 
Gary Middleton/Paul Cornelius/Paul Whittington   Tel: [phone] 
 
 
 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

March 15, 2017 03:48 ET (07:48 GMT)

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