Proxama PLC AGM Statement (8229L)

TIDMPROX

RNS Number : 8229L

Proxama PLC

24 July 2017

24 July 2017

Proxama Plc

("Proxama" or the "Company")

AGM Statement

Proxama plc (AIM: PROX), the leading mobile proximity marketing expert, is holding its Annual General Meeting and General Meeting today. At the meeting, Kelvin Harrison, Non-Executive Chairman of Proxama, will make the following statement:

"I would like to thank all our shareholders for their support following the successful placing and open offer. As a result of this fundraise, your Company is now debt free and well positioned to continue its transition to a mobile location and data business.

As previously described, the Company will now continue its transition to a location intelligence business, using its mobile location data to scale existing data and audience products and launch new attribution and verification products.

In recent weeks, we have significantly increased our access to audience data. The larger the mobile consumer audience that we have access to, the more data the Company can collect, the more value our platform can add, and therefore the more that we can charge for our data products.

We now plan to continue to scale the business primarily through our data products - both existing and new. We have already seen increases in data sales via four marque brand partnerships including Blis, a global leader in advanced location data technology, and we expect these to make a significant contribution to our revenue for 2017 and beyond. We have also already started the shift to higher value data products and are working on the release of these for the second half of 2017.

We are very excited to be moving forward with what we consider to be a very exciting transition, and we recognise that this would not be possible without the support of our shareholders. We want to acknowledge that support today, and reassure our investors that we will work tirelessly to repay the faith that they have shown in us, and our new direction."

 
Enquiries: 
Proxama PLC                               Via Redleaf 
 John Kennedy 
Peel Hunt LLP 
 (Nominated Adviser and Broker) 
 Richard Kauffer/Euan Brown               020 7418 8900 
Redleaf Communications 
 Charlie Geller/Elise Palmer/Sam Modlin   020 7382 4769 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMLFFVLDEIVFID

(END) Dow Jones Newswires

July 24, 2017 02:01 ET (06:01 GMT)