WANdisco Plc AGM Statement (0169G)

TIDMWAND

RNS Number : 0169G

WANdisco Plc

24 May 2017

24 May 2017

WANdisco plc

("WANdisco" or the "Company")

AGM Statement

WANdisco (LSE: WAND), the world leader in Active Data Replication(TM), will be holding its AGM at 10:00am today.

At the meeting, David Richards, Chief Executive Officer and Interim Chairman of WANdisco, will make the following statement:

"2016 was a year of substantial progress for the Company with our WANdisco Fusion product now generating significant sales momentum. WANdisco Fusion is the only solution available in the world that enables the replication of continuously changing data with guaranteed data consistency and no down-time, making us uniquely placed to capitalise on the increasing demand from enterprises to transfer data to the cloud with no business disruption.

"Alongside our strong sales traction, we have realigned our cost base, which we now believe is at an appropriate level to deliver a positive EBITDA. In April of this year we reported that WANdisco delivered a cashflow neutral performance in Q1 2017, ending the quarter with $7.6 million of cash. This is a momentous achievement for our business and is a clear indication of the tremendous progress our team has made over the last 12 months.

"I am also pleased to report WANdisco has made a strong start to 2017. We continue to develop a growing new business pipeline, which was highlighted by our sales team securing the Company's largest contract to date in Q1, a $4.1 million contract win with a major financial services multinational. Our key strategic partnerships, in particular our OEM with IBM, continue to remain central to our progress and we look forward to further developing our channel partnerships to accelerate the deployment of WANdisco globally."

For further information, please contact:

 
 WANdisco plc                       via Vigo Communications 
 David Richards, Chief Executive 
  Officer and Interim Chairman 
 Erik Miller, Chief Financial 
  Officer 
 
                                    [phone] 
 Vigo Communications                 9700 
 Jeremy Garcia / Fiona Henson 
  / Antonia Pollock 
  www.vigocomms.com 
 
                                    [phone] 
 Stifel (Joint Broker and Nomad)     7600 
 Fred Walsh / Neil Shah / Ben 
  Maddison / Rajpal Padam 
 
 UBS (Joint Broker)                 [phone] 
  Rahul Luthra / Sandip Dhillon      8000 
 

About WANdisco

WANdisco is the world leader in Active Data Replication(TM). Its patented WANdisco Fusion technology enables the replication of continuously changing data to the cloud and on-premises data centers with guaranteed consistency, no downtime and no business disruption. It also allows distributed development teams to collaborate as if they are all working in one location. WANdisco has an OEM with IBM as well as partnerships with Amazon Web Services, Cisco, Google Cloud, Hewlett Packard Enterprise, Microsoft Azure, and Oracle to resell its patented technology. WANdisco also works directly with Fortune 1000 companies around the world to ensure their data gives them the real insight they need.

For additional information, please visit www.wandisco.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 24, 2017 02:00 ET (06:00 GMT)