Business
Trading Update and Board Appointment
Trading Update and Board Appointment.
About this update from Mediazest Plc
[{"type":"text","content":"\n \n17 August 2011\n\n MediaZest Plc \n\n Trading and business update \n\n Appointment of new Sales Director \n\nMediaZest Plc (\"MediaZest\" or \"the Group\"; AIM: MDZ), the creative digital\nout-of-home advertising company and audio-visual integrator, provides the\nfollowing trading update.\n\nGroup trading results were below previous expectations for the year ending 31\nMarch 2011 as a consequence of the sales performance in the second half of the\nyear, prior to the fundraising at the end of the 4th quarter of that financial\nyear. However, Group revenues have improved since the start of the new\nfinancial year in April 2011 with turnover of £800,000 for the quarter ended\nJune 30 2011. This improvement in turnover is expected to carry through into\nthe quarter ending 30 September 2011 The Board is pleased to announce £200,000\nworth of new and additional work with a long standing customer in the form of a\nroll out of bespoke audio technology into over 100 retail stores. In addition,\nthe Group has secured a contract worth over £120,000 with a new client, the\nWest Bromwich Building Society. Furthermore, the Group continues to work with a\nnumber of high profile clients including O2, Barclays Bank, Kuoni and Fiat as\nwell as gaining business from new clients British Gas, FiloFax and Astra\nZeneca.\n\nFurther to the announcement made by MediaZest on 2 March 2011 relating to a\nproposed conversion of £90,000 debt to equity at 0.55pence per new ordinary\nshare, the Board plan to seek the necessary authorities in combination with the\nAnnual General Meeting, to be held in September 2011.\n\nThe Group announced on 2 March 2011 that it intended to finance growth of its\noperations from the proceeds of its capital raising and is, therefore, pleased\nto announce the appointment of James Abdool as an executive Director of\nMediaZest and as Sales Director with immediate effect. Prior to his\nappointment, James has been working with the Group as a consultant for the last\nfew months.\n\nJames has been actively involved in Sales and Marketing for a number of media\nrelated companies since 1994. He most recently worked with PlayNetwork Inc.\nwhere he was instrumental in setting up their international operations\nthroughout Europe, the Middle East and Africa (EMEA). Prior to this, he worked\nat EnQii, the global digital signage and ...