Business
New Media Business Created
New Media Business Created.
About this update from Iconic Labs Plc
[{"type":"text","content":"\n \nRNS Number : 0966T WideCells Group PLC 18 March 2019 \n\n18 March 2019 \nWideCells Group PLC ('WideCells' or 'the Company)\nNew Media Business Created, Board Appointments and Proposed Name Change to Iconic Labs Plc\n \nWideCells is pleased to announce that it has created a division encompassing a new media and technology business focussed on providing online marketing, content and technology driven products. The Board intends to propose a change of name of the Company to Iconic Labs plc. \n \nTo this effect, two new executive directors are joining the Board with immediate effect: John Quinlan as CEO and Liam Harrington as CBO who were instrumental in growing UNILAD into the world's most viewed and largest social first publisher. The Company has also appointed additional non-executives, to bring important strategic insights, details of which are below.\n \nHighlights\n· New media and technology business focused on providing online marketing, content and technology driven products\n· Experienced management with proven track record drawn from key individuals at UNILAD, the world's largest social media publisher\n· Cash flow focussed business model with pre-identified contracts, an identified path to profitability and exceptional growth prospects \n· Taking advantage of structural change in the online market through proprietary technology and the team's exceptional insights and network \n· Well positioned and with funding to enable rapid organic growth and active roll-up strategy\n· Substantial historic liabilities in the process of being settled and resolved\n \nExecutive Chairman, David Sefton, said: \"Iconic Labs represents an exceptional opportunity for this Company. The skills and experience of the team in the new media marketing space, as shown through their track record at UNILAD, the world's largest social first publisher, can deliver an exciting and uniquely positioned business. The growth of this market is accelerating at an unprecedented pace; global mobile ad spend is projected to increase from US$138 billion in 2018 to US$212 billion in 2021. The team has the model to capitalise on this. \n \n\"We...