Location Sciences Group PLC Trading Update (5931O)

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RNS Number : 5931O

Location Sciences Group PLC

31 January 2019

31 January 2019

Location Sciences Group PLC

("Location Sciences" or the "Company")

Trading Update

Location Sciences (AIM: LSAI), the leading mobile location data and intelligence expert, is pleased to announce that, since completion of its fundraising on 29 November 2018, trading remained strong in the remainder of 2018. Consequently, trading for the year ended 31 December 2018 was in line with market expectations.

2019 has started well with Location Sciences utilising some of the funds raised in November 2018 by expanding its leadership and sales team in North America. Earlier this month, Warren Zenna, President of US Sales, led Location Sciences' activities at CES, a major event that draws thousands of Location Sciences' target customers. The event provided an opportunity to soft launch Location Sciences' Verify solution - a platform which detects location ad-fraud. This issue is causing growing concern across a plethora of brands and agencies which count on the fact that the premium location data they buy to drive their media decisions is valid.

The soft launch resulted in platform guidance and commercial test requests from certain top US brands, agencies and location intelligence data providers. These paid-for trials are currently being scheduled and are expected to provide participating parties with significant benefits and competitive advantage. Paid trials across the US are expected to lead to "always-on" contracts with trial participants. Similar to Location Sciences' UK experience, the Directors expect trial participants to convert into "always-on" agency and brand direct customers in a three to nine month period.

The Company expects to announce its audited full year results for the year ended 31 December 2018 in early April 2019.

Mark Slade, CEO of Location Sciences, commented: "The speed at which brands and agencies in the US are willing to test Verify demonstrates both the awareness of location ad-fraud and the need for full transparency across their location-based advertising campaigns. The traction and interest in this new disruptive technology sets us up for an extremely positive year ahead."

Warren Zenna, President of US Sales, commented: "CES was an opportunity for us to demonstrate to brands and agencies how we can help them to optimise their location-based ad campaigns. The size of the US market makes it a high priority for us and we are looking forward to delivering strong results as part of the paid-for trials."

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 please contact:

 
 Location Sciences Group PLC    via Milk and Honey PR 
 Mark Slade, Chief Executive 
  Officer 
 David Rae, Chief Financial 
  Officer 
 
 Stockdale Securities Limited   Tel: [phone] 
 Tom Griffiths 
 David Coaten 
 
  Milk & Honey PR                Tel: [phone] 
 Kirsty Leighton 
 Jessica Ballinger 
 

About Location Sciences Group PLC:

Location Sciences is a leading mobile location data intelligence company. Through its machine learning and pattern recognition expertise, Location Sciences provides its customers with a range of services, including location verification, online to offline attribution, out of home (OOH) solutions, location planning and consumer behaviour insights.

Verify is a bespoke solution built by Location Sciences to extract the full value of location-based advertising campaigns. Verify protects advertisers against location ad-fraud by ensuring their location-based adverts are targeting the right audiences. Through Verify, advertisers have access to real time insights into how their advertising campaigns are performing, enabling them to cut wastage and enhance effectiveness.

Location Sciences works in partnership with brands, agencies, OOH media owners and technology partners to extract the full value of mobile location data.

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January 31, 2019 02:00 ET (07:00 GMT)