Bango PLC
08 August 2007
BANGO PLC
('Bango' or the 'Company')
AGM Statement
August 8th, 2007 - Bango will hold its Annual General Meeting in London today,
at which Ray Anderson, CEO of Bango will make the following statement in
relation to the performance of the business:
'Trading in the first few months of the year has progressed well. End-user spend
in the UK for the first quarter of this financial year was 52% higher than for
the comparable quarter last year. Although starting from a lower base, end-user
spend in North America increased more than fourfold comparing the same quarters.
These increases clearly demonstrate that Bango is well positioned to take full
advantage of the growth in financial transaction volumes on the mobile web.
On a global basis there are signs that suggest the use of the mobile web is
moving towards the mainstream. For example, the recent level of activity and
focus on this area by Yahoo and Google is encouraging and is significantly
increasing the awareness of the mobile web. In addition, mobile operators are
starting to simplify and reduce the costs of mobile internet access, thereby
establishing a good basis for widespread adoption of mobile web usage.'
The sign-up of content providers has progressed as planned. Our new Bango
Starter package, which enables businesses or individuals to sample the Bango
service for free and then upgrade to a fuller service has gained more than 1,000
sign-ups in the past three months. Whilst it is early days we believe that this
is an important step in attracting greater numbers of content providers to
Bango. This is because it facilitates the volumes associated with start-up
content businesses and also scales with the content providers' needs as business
grows.'
We have continued to reduce operating expenses by increasing automation and
centralization. A new end user self-care PC website was launched at
www.bango.net on 1st August 2007. This augments Bango's end user support tools
on the mobile phone to further reduce the need for human attention by Bango
employees.'
Our market leading technology, robust platform, geographic spread and
relationships with industry leaders such as Yahoo, Google and PayPal support our
belief that Bango is uniquely well positioned to benefit from the continued
growth in the mobile web.'
For further information:
Bango plc ICIS Limited Panmure Gordon & Co
Tel. +44 1223 472777 Tel. +44 20 7651 8688 Tel. +44 20 7459 3600
Ray Anderson, CEO Tom Moriarty Aubrey Powell
Peter Saxton, CFO Caroline Evans-Jones Stuart Gledhill
About Bango
In order to make the mobile web simple for everyone, Bango has developed and
delivers its technology as a global exchange for the mobile web. By providing a
common integration point for brands, businesses and individuals, Bango removes
the complexities that make the mobile web difficult to exploit.
Through Bango's global exchange, content providers see all users as a unified
global community. Users easily discover and access the widest range of content
and the world's leading mobile operator's partner with Bango to give their
subscribers the widest choice. Billing providers, search engines and advertisers
are automatically connected to content providers in Bango's global exchange.
Bango has offices in USA, UK, Spain and Germany and is quoted on the London
Stock Exchange (AIM:BGO). Learn more at www.bango.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.