Analyst teach-in

RNS Number : 8226B

musicMagpie plc

15 June 2021

 

15 June 2021

musicMagpie plc

("musicMagpie", or "the Group")

Analyst teach-in

musicMagpie, a leading re-commerce business in the UK and US specialising in refurbished consumer technology, will today hold a virtual teach-in for equity analysts at 14:00 (BST).

The event will be hosted by Steve Oliver (co-founder and CEO) and Ian Storey (COO) and will provide an introduction to the business and its strategy, as well as an overview of key financials.

No new material disclosures will be made during the event.

On 22 April 2021, musicMagpie announced the admission of its ordinary shares to trading on the AIM market of London Stock Exchange plc ("LSE"). The Group received the LSE's Green Economy Mark, which recognises companies that derive 50 per cent. or more of their total annual revenue from products and services that contribute to the global 'Green Economy'.

Enquiries

Powerscourt (Financial Public Relations) Rob Greening Lisa Kavanagh Sam Austrums

Tel: [phone]

Notes to Editors

musicMagpie is a leader in the re-commerce of consumer technology (including smartphones, tablets, consoles and wearables), disk media (including CDs, DVDs and games) and books, with sustainability running to the very heart of its operations.

Founded in 2007, the Group has an established presence in the UK, with operations in Stockport, Greater Manchester, and in the US in Atlanta, Georgia. Operating through its two trusted brands - musicMagpie in the UK and Decluttr in the US, the Group's core business model is simple: to provide consumers with a smart, trusted and sustainable way to buy, rent and sell refurbished consumer technology and physical media products.

It has a strong environmental and social focus, as demonstrated by its trademarked 'smart for you, smart for the planet' ethos. Over 400,000 consumer technology products were resold to consumers in the year ended 30 November 2020 by the Group. In addition, the Directors estimate that that the Group re-sells approximately 2,500 tonnes of books and disc media each year that could have ended up as waste. As a result, the Company has received the London Stock Exchange's Green Economy Mark, which recognises companies that derive 50 per cent. or more of their total annual revenue from products and services that contribute to the global 'Green Economy'.

When selling to musicMagpie, the customer is offered a fixed valuation via the website, provided with free logistics to ship the products and (subject to it being 'as described') receives payment for their product on the day of arrival at the Group's warehouse.

Customers purchasing from musicMagpie receive branded refurbished product for a fraction of the price of buying new. All consumer technology products sold by the Group are sold with a free 12-month warranty.

The Group has the highest number of seller reviews on both Amazon and eBay and has consistently achieved extremely positive feedback scores. The Group also has a 4.7* rating on UK Trustpilot.

For further information please visit: www.musicmagpieplc.com/

 

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