Zamano PLC Interim Management Statement (1973G)
August 04 2016 - 2:00AM
UK Regulatory
TIDMZMNO
RNS Number : 1973G
Zamano PLC
04 August 2016
zamano plc
('zamano', the 'Company' or the 'Group')
Interim Management Statement
04 August 2016
Introduction
Dublin, 4 August 2016: zamano plc (AIM: ZMNO, ESM: ZAZ), a
leading European provider of interactive applications and services
to mobile devices, is pleased to issue an Interim Management
Statement in conjunction with its Annual General Meeting ('AGM')
which is taking place today at 11.00AM at the Conrad Hotel,
Earlsfort Terrace, Dublin 2.
Business Update
In its results for the financial year ended 31 December 2015,
which were announced on 10 March 2016, zamano reported a
significant increase in sales driven by a strong performance in its
UK business. This area of our business has continued to grow during
the first half of 2016. However, overall Group contribution margins
were lower as a result of increased advertising spend and the
changing profile of the UK business.
Strategic Review
In light of the market and regulatory changes which are
currently taking place in our core business and indeed, the many
growth opportunities which currently exist in product-market areas
such as mobile advertising and billing / payments, the Board
commissioned OFS, an IT consultancy, to carry out a strategic
review of the business. This review was carried out over a four
week period commencing early-June 2016 and the findings were
formally presented to the Board at the end of July 2016. Its
principal findings were that zamano needs to gradually reposition
the business into higher value-added, growth-orientated activities,
and that this can be most effectively achieved by implementing a
focused bolt-on acquisition program in the mobile advertising,
social and billing areas. The strategic review identified a small
number of potential acquisitions in these three sectors which
zamano is currently evaluating.
Appointment to Board
The strategic review exercise was carried out by a team led by
Mr Edmond Murphy, a technology entrepreneur with investment
interests in, inter alia, payments, e-commerce, advertising
distribution and accounting software. The Board is pleased to
announce that Mr Murphy has agreed to accept an appointment as a
non-executive director of zamano and has been appointed to the
board with immediate effect. It is envisaged that Mr Murphy will
provide advice and assistance to the Company to ensure effective
implementation of the findings of the strategic review over the
course of the next few months and beyond.
Mr Murphy is founder and shareholder of Irish payments company,
Continuum Commerce Ltd and is a director of US Social Media
company, SoHalo LLC, US Marketing agency, The Campus Agency and US
advertising distribution business, Speed Media Inc. He also
co-founded the Irish web development business Labryinth which was
subsequently acquired by BT.
Commenting on the appointment, Colin Tucker, Chairman, said:
"We are delighted to welcome Eddie to the Board of zamano.His
extensive experience in payments, social media and advertising will
be of considerable benefit to zamano as we actively pursue the
re-positioning of the business".
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies. Mr. Murphy, aged 45
years, has been a director of the following companies during the
five years preceding the date of this announcement:
Current directorships:
Continuum Commerce
SoHalo Inc
Visor Limited
The Campus Agency
Speed Media Inc
Little Samphire Island Limited
Travelonomy Limited (resigned December 2015)
Caldeira Limited (resigned September 2013)
Murcor Developments Ltd (voluntary strike off, 2013)
Allgarve Deals Limited (dissolved December 2012)
Mr Murphy holds no ordinary shares in the Company.
For further information, please contact:
zamano plc
Michael Connolly, Chief Financial Officer
Tel: +353 1 554 7261
Investec Corporate Finance
Shane Lawlor/Ian McGreal
Tel: + 353 1 4210000
Cenkos Securities (Nominated Adviser & Broker)
Derrick Lee/Neil McDonald
Tel: + 44 (0) 131 220 6939
Media Enquires:
MCOMM Communications Consultants
Richard Moore
Tel: +353 1 661 9428
Mob: +353 87 241 4751
Email: ir@zamano.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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