AGM Statement

RNS Number : 0493F

Proxama PLC

25 July 2016

 

Proxama PLC

("Proxama" or the "Company")

AGM Statement

Proxama PLC (AIM: PROX), the leading mobile proximity marketing expert, is holding its Annual General Meeting and General Meeting today. At the meeting, David Bailey, Non-Executive Chairman of Proxama, will make the following statement:

"I am pleased to confirm that the Company continues to make good progress. The proposed fundraising, which we expect will be confirmed today, will provide the working capital to continue to accelerate the Proximity Marketing business and also enable the Digital Payments business to be developed further, whilst we conclude a successful exit of the division, ensuring we maximise shareholder returns and the Company is trading cash positively by the end of 2017.

The Proximity Marketing Division is now gaining real momentum through the expansion of our beacon network - attracting well-known brands to utilise the network with innovative new campaigns and forming strategic partnerships that will underpin the Company as it monetises its technology. The following are recent achievements by the Proximity Marketing Division in these areas:

Further Beacon Network Expansion

The Company has been successful in building out its beacon network, adding Premiership Football locations, London pubs and bars, Heathrow Airport, key tourist locations in London and commuter routes between Birmingham and London.

Proxama has beacon-enabled 400 pubs and bars across London and 200 within close proximity to all 20 Premiership Football Clubs. This network will enable brands to reach a combined monthly average audience of over 2.5 million consumers.

An agreement has been reached in partnership with Mobile Media Group, an international advertising and events agency, to beacon-enable London Heathrow's LHRLINK - the only transport network at London Heathrow connecting all terminals, arrivals and departures to all Heathrow Hotels. LHRLINK transports over 2.5 million passengers annually, with an average travel time of 15 minutes and has an audience of over 36 million annually targeting the exterior of the buses.

In partnership with the Emblem Group, location owners across central London, we will beacon-enable sites situated across commuter and tourist hubs and high dwell areas. Proxama have also beacon-enabled the mainline trains between Birmingham and London Marylebone, as well as Birmingham Moor Street and Snow Hill stations.

In total, we have added around 1,000 prime locations in just a few weeks, an excellent achievement and a reflection of the increasing interest from businesses wishing to participate in the Proxama network.

Live Advertising Campaigns

The Company has also been successful in creating revenue through delivering mobile advertising campaigns across the network.

Last week we announced that we are working with global travel comparison provider Skyscanner, to deliver its first multi-channel mobile advertising campaign. The campaign, in partnership with Airport Media, Exterion Media, Primesight and Ubiquitous, commenced on the 18th July. Through the beacon network, Skyscanner can utilise major points of interest and transport hubs, as well as Out-of-Home print advertising to drive consumer interaction with hard-to-reach consumers. A consumer spending time in one location maximises the engagement opportunity - we call this moment consumer 'dwell time'. 

This inaugural campaign by Skyscanner demonstrates Proxama's strategy of delivering common and complimentary marketing messages to consumers simultaneously who are in moments of dwell time, via our network; sitting in taxis, travelling on buses or waiting in airports. We are delivering highly targeted, relevant and contextual engagement for brands through the use of our beacon technology, which return strong consumer response results for brands.

In addition to Skyscanner, Proxama supported the promotional launch of the BFG Dream Jar trail in London in conjunction with Entertainment One. Using Primesight central London cinema locations, Entertainment One were able to promote the trial using the Physical Web and Google's Nearby notifications.

Key Strategic Sales Distribution Partnerships

Critical to monetising the mobile advertising inventory created from the network, Proxama is today pleased to announce a partnership with PubMatic. Integration is complete, with Proxama now utilising PubMatic's private market place offering which gives advertisers the opportunity to see the premium ad inventory available. Brands can capitalise on the consumer's exact location and dwell time and then deliver their ads to a specific audience with a higher likelihood of engagement.

Digital Payments Division

The Digital Payments Division has continued to make good progress. We recently closed a mobile payment deal with Tutuka in South Africa, we've implemented software solutions for Navy Federal, the largest USA Credit Union, we are implementing full EMV software solutions for Discover in South Africa and we expect to announce further EMV and Mobile Payment deals in the USA and Europe in the near term.

All these advancements reinforce to myself and the Board as a whole, that the Company is establishing itself as a real and valuable presence in this rapidly expanding market of location based marketing. We look forward to the second half of 2016 with confidence."

-Ends-

Enquiries:

Proxama PLC John Kennedy	020 3668 2888
Peel Hunt LLP (Nominated Adviser and Broker)                Richard Kauffer Euan Brown	020 7418 8900
Novella (Financial PR) Tim Robertson Toby Andrews	020 3151 7008

 

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