MySQUAR Limited Integration of Ooredoo Myanmar's Billing Services (1267R)

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RNS Number : 1267R

MySQUAR Limited

19 September 2017

19 September 2017

MySQUAR Limited ("MySQUAR" or the "Company")

Integration of Ooredoo Myanmar's Billing Services

MySQUAR, the Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications, is pleased to announce it has successfully integrated Ooredoo Myanmar's billing services ("Ooredoo"), whereby MySQUAR will use Ooredoo's carrier billing service (purchases are made by deducting from the phone balance) for MySQUAR's mobile applications and games. Ooredoo is a leading telecommunications provider operating in Myanmar since 2014 and will earn a share of revenues generated from MySQUAR's applications and games.

Ooredoo is a major international telecommunications provider in Myanmar with a subscription base of over 9 million mobile customers as of the end of 2016 and was the first operator to launch 4G services in Myanmar while also expanding its 3G network. It's 4G service is now available across 52 townships which cover 5 major cities and leads the 4G market with 5 million 4G subscribers.

The integration with Ooredoo will give MySQUAR access to Ooredoo's subscription base for enhanced distribution and marketing opportunities and in-app purchases will now be easier for MySQUAR users that are also Ooredoo subscribers.

Pham Dang Hung, COO & CFO of MySQUAR, said: "We are delighted to work with Ooredoo whereby the Company's applications and games will be directly available to Ooredoo's users. As a result we expect that the revenue generating capability of the Company will also be enhanced which we intend to exploit through a planned program of new title releases."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information:

 
MySQUAR Limited 
Eric Schaer (Chief Executive)   Tel: [phone] 
Pham Dang Hung (CFO) 
 
SP Angel Corporate Finance LLP 
Nominated Adviser               Tel: [phone] 
                                 0470 
Stuart Gledhill/Soltan Tagiev 
 
 Beaufort Securities Limited 
 Broker                           Tel: [phone] 
 Jon Belliss/Elliot Hance         8300 
 
 Public Relations 
 Damien McCrystal                 Tel: [phone] 
                                  0758 
                                  [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 19, 2017 02:01 ET (06:01 GMT)