Result of AGM & Directorate Change

RNS Number : 6003W

Marimedia Ltd

20 August 2015

Marimedia Ltd.

("Marimedia" or the "Company")

Result of Annual General Meeting & Directorate Change

Marimedia (AIM: MARI), a proprietary marketing ad-technology solutions company that leverages big data to optimise mobile and online advertising spend, announces that at the Annual General Meeting ("AGM") of the Company, held earlier today, all resolutions were duly passed.

Change of name

Following the passing of the resolution, application will be made to the Israeli Companies Registrar for the formal approval of the Company's name change to Taptica Ltd. In addition, once approval is received, the Company will trade on AIM under a new ticker ('TAP'). The new name reflects the development of the Company's offering and acceleration of its mobile strategy as announced earlier this year. The focus of the business is the provision of marketing solutions, based on big data, that drive execution and powerful brand insight in mobile by leveraging video, native and display to reach the most valuable users for every app, service and brand.

The Company will update the market in due course when the change becomes effective.

Directorate change

Further to the announcement of 16 July 2015, Ms. Maia Shiran and Mr. Rene Rechtman, who did not offer themselves for re-election at the AGM, have resigned from the Board of the Company with immediate effect. Ms. Shiran has also resigned from her executive position within the Company. This reflects the transition of the business whereby the focus of resources has shifted from the traditional display segment to the higher-value mobile segment.

Mr. Ronni Zehavi, aged 49, has been appointed as a Non-Executive Director of the Company with immediate effect. He has 25 years' experience in the technology industry, including holding executive roles at publicly traded companies, with a primary focus on SaaS businesses, IT security and content delivery. Most recently, he was Senior Vice President & General Manager of Akamai Technologies, Inc., a NASDAQ-listed provider of content delivery network services. Mr Zehavi joined Akamai in 2012 when it acquired Cotendo, Inc., a content delivery network and site acceleration services company that he had founded in 2008, for approximately $270m. Prior to Cotendo, he held the position of Vice President of Sales & Business Development of NASDAQ-listed Commtouch Ltd. (now 'CYREN Ltd.'), a cloud-based, internet security technology company.

Tim Weller, Chairman of Marimedia, said: "On behalf of the Board, I would like to thank Maia for her tremendous contribution to the business over the last eight years. She has laid strong foundations on which we will build as we take the business forward and transition to become wholly focused on the mobile segment, which is reflected in the adoption of our new name. We wish her well in her future endeavours."

Other than that set out below, there are no other matters required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies as regards Mr. Zehavi's appointment.

Regulatory disclosures:

Mr. Ronni Zehavi

Current directorships

Directorships within the last five years

Shaliz Holdings 2015, Ltd

Tufin Software Technologies, Ltd.

SafeBridge

Cotendo, Inc.

Team8 Labs, Ltd.

MyCheck

For further details:

Marimedia