Corporate update

ADVFN PLC

23 July 2024

 

For immediate release

23 July 2024

 ADVFN plc

("ADVFN" or the "Company")

Corporate update

The Board of ADVFN is pleased to provide an update on the current development of the ADVFN investor platform ("Platform"). As reported earlier this year, the Company has been making a number of enhancements to the Platform, in line with ADVFN's strategic aim to position the Company as a cutting-edge technology company within the financial space.

These enhancements include the launch of ADVFN AI Intelligence which is designed to empower ADVFN users with a reliable, easy-to-use AI tool that enhances their decision-making process by offering real-time, intelligent responses to a wide range of financial queries.

The recent progress on revamping the ADVFN offering, including the redesign and mobile optimisation of the website, is phased as follows:

-      Phase 1 completed: The first phase of the Platform updates, which includes most of the core tools and pages ADVFN offers and ADVFN AI Intelligence, is now live on www.advfn.com ;

-      Phase 2 initiated: We have commenced the rollout of these enhancements to additional countries, with completion anticipated in the Autumn; and

-      Long Tail Redesign: Upon the conclusion of Phase 2, we will proceed with a comprehensive update of the remaining sections of the platform.

We have also successfully integrated advanced analytics into our operations, significantly enhancing our data-driven decision-making capabilities. Optimisation and monetisation efforts are underway, with the primary objective of increasing our subscription base.

The Company's new mobile app is currently in the testing phase and is scheduled for release by the end of Q3 this year and we expect to commence the onboarding process for existing users shortly.

The Board looks forward to providing a further update on Platform developments and trading as the year progresses.

A copy of this announcement is available from the Company's website at www.advfnplc.com

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. The person who arranged for the release of this announcement on behalf of the Company was Amit Tauman, Director.

For further information please contact:

ADVFN plc Amit Tauman (CEO)	[phone]
Beaumont Cornish Limited (Nominated Adviser) Michael Cornish Roland Cornish	[phone]
Peterhouse Capital Limited (Broker) Eran Zucker Lucy Williams Rose Greensmith	[phone]

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

 

END