OneView Group PLC Launch of Digital Store Platform with Wickes (2009F)

TIDMONEV

RNS Number : 2009F

OneView Group PLC

16 May 2017

16 May 2017

OneView Group plc

("OneView" or the "Company")

Launch of Hosted, Cloud-Based Digital Store Platform with Wickes

Update on Proposed Fundraise and Debt Restructuring

OneView (AIM: ONEV), one of the retail industry's leading digital transformation software providers for in-store customer service announces that Travis Perkins (LON:TPK), one of the UK's leading distributors of materials to the building, construction and home improvement markets, is piloting its Point of Sale (POS) transformation at Wickes, Travis Perkins' home improvement retail business. In addition, the Company gives an update on its proposed fundraise.

Launch of Hosted, Cloud-Based Digital Store Platform with Wickes

OneView's hosted, cloud-based Digital Store Platform went live at Wickes' Bristol store over the Easter weekend, initiating the retailer's busiest season. Aligning the pilot and planned rollout with Wickes' peak season allowed Travis Perkins to test OneView's capability to handle Wickes' fast-moving and effective promotional strategy. The pilot demonstrated that OneView's Digital Store Platform reduces promotion set-up time from more than a day to minutes, driving sales volume and improving customer satisfaction.

As well as hosting the cloud-based Digital Store Platform for Travis Perkins, OneView also provides application management and IT infrastructure support.

Neil Pearce, Chief Information Officer of Travis Perkins commented:

"The successful pilot of OneView Digital Store at Wickes is a significant milestone as we embark on our commitment to digital transformation across the Travis Perkins brands. OneView's digital point of sale enables a high level of agility in delivering on operational strategy, and the hosted infrastructure aligns with the Travis Perkins cloud-based business strategy that supports the ability to take advantage of innovative, advanced applications to continuously improve store operations and supply-chain effectiveness."

Stuart Mitchell, Chief Executive Officer of OneView commented:

"Retailers like Travis Perkins are leading the race toward digital transformation by ensuring that their business partners and store associates have access to real-time customer and inventory information, supporting a unified commerce experience. OneView's digital point of sale supports this transformation at a pace previously unattainable with enterprise software."

Update on Proposed Fundraise and Debt Restructuring

The Board remains in discussions with its shareholders with regards to an equity fund raising as detailed in an announcement dated 24 February 2017. At that time the Company also announced that, contingent on the success of the fund raise, its debt holders had agreed to convert $2million of debt into ordinary shares at the same share price as the equity fund raise.

The debt holders have now agreed to convert the additional $2million of convertible debt they hold at the time of the fund raise. Thus it is agreed that the entire $4m of convertible debt will convert into equity at the price at which new equity is to be raised. This is contingent on the equity fund raise completing and ensuring that post conversion no party holds more than 29.99% of the ordinary share capital of the Company. .

The equity fund raise will provide the working capital to enable the Company to focus on delivering its pipeline. The Board expects to update shareholders in the next month.

Further Details:

 
 OneView Group            Tel: 01634 
  plc                      673172 
 Stuart Mitchell, 
  CEO 
 Linda Palanza, 
  COO 
 Mark Wilson, Finance 
  Director 
 
 finnCap Limited          Tel: [phone] 
                           0500 
 Geoff Nash 
 
 Hybridan 
  Claire Noyce              Tel: [phone] 
                            2341 
 
 Newgate Communications   Tel: [phone] 
                           9848 
 Bob Huxford 
 Lydia Thompson 
 

About Travis Perkins plc

Travis Perkins plc is one of the U.K.'s leading distributors of materials to the building and construction and home improvement markets. The Group operates 21 businesses from 2,000 plus sites and employs nearly 30,000 people across the UK. With a proud heritage that can be traced back over 200 years, our employees are continuing that tradition by working with our customers to build better, together. For more information, please visit www.travisperkinsplc.co.uk

About OneView Commerce

OneView Commerce is a pioneer in digital store transformation, helping global retailers implement successful unified commerce strategies that centre on the critical engagement in store. The company's cloud-based Digital Store Platform combines digital-ready point of sale, line busting, and end-to-end unified commerce capabilities, with the ability to capture and deliver the rich content from these store interactions across the retail enterprise. OneView enables the exchange of this powerful store information to immediately impact sales, business operations and the customer experience. Travis Perkins plc, Wickes, and Discount Tire Corporation are among the global retailers revolutionizing their stores with OneView Commerce. For more information, visit www.oneviewcommerce.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 16, 2017 02:01 ET (06:01 GMT)