Admission to trading on AIM

RNS Number : 3361M

Proxama PLC

23 August 2013

 



23 August 2013

Proxama Plc

("Proxama" or "the Company")

Admission to trading on AIM

Proxama (AIM:PROX) today announces that 465,233,632 of its ordinary shares have been readmitted to trading on AIM under the ticker symbol "PROX" with first dealings expected to commence at 08.00 a.m. today.

The readmission to AIM follows the Company's acquisition of the entire issued share capital of Proxama Limited through the issue of 365,353,532 ordinary shares at an issue price of 4 pence per ordinary share, valuing the Company as enlarged by the acquisition, at approximately £18.6 million.

Neil Garner, Chief Executive Officer of Proxama said: "With the market for mobile commerce and particularly mobile contactless payments and engagement ever increasing, we know that the time is right to list on AIM. This marks another significant step towards realising Proxama's global business ambitions".

About Proxama

Proxama is a Near Field Communication ("NFC") mobile commerce company whose stated vision is to connect the physical and digital worlds through enabling consumers to manage their bank accounts and credit cards, pay for goods and services, participate in and benefit from loyalty programmes and access information and marketing material through their mobile phones.  

NFC is already widespread with train tickets (such as the London based Oyster Card), access to buildings and increasingly cashless payments all enabled using NFC technology. Proxama is seeking to integrate these and other types of services within a mobile phone. Its technology, products and platforms enable consumers to launch secure mobile wallets, connect with brands, receive promotional offers and make contactless payments through simply tapping their NFC mobile phone on a card reader or other physical media.

Proxama uses its expertise to develop NFC solutions for its customers, currently on a fee for service basis, in two key areas:

1.   mobile proximity marketing; and

2.   secure mobile contactless payments.

Working with card issuers, mobile network operators ("MNOs"), handset manufacturers, brands, agencies and out-of-home media companies, Proxama enables its partners and clients to rapidly launch NFC payment services and location-based marketing campaigns worldwide. Among its achievements so far, Proxama has done the following:

•    in partnership with MasterCard®, launched the first prepaid mobile contactless payment solution in the UK;

•    Proxama's Mobile Reference Kit has been used by card issuers and terminal vendors to help ensure they are compliant with the latest MasterCard® specifications for mobile contactless payments;

•    Proxama's NFC mobile wallet technology, TapTransact™, is being deployed by some of the largest global mobile wallet brands; and

•    Proxama has secured a position as a TrustZone® partner of ARM® - and ARM's new spin-out joint venture, Trustonic - making possible the next generation of highly secure m-commerce.

Proxama has also executed over 400 proximity marketing campaigns globally, including an award-winning NFC marketing campaign for Nokia and VOX cinemas, the first UK NFC outdoor media campaign for the launch of the X-Men: First Class movie and the UK's first NFC consumer marketing campaign with Orange and EAT.

The quality of Proxama's work has won it a number of awards such as winner in the category of Best Marketing Campaign using Contactless/NFC Technology at the Contactless & Mobile Awards 2012, for its Nokia and VOX Cinemas Voucher Campaign and winner in the technology category at the Cambridge Wireless Discovering Start-Ups 2011.

As of the date of this announcement, Proxama has 56 full time employees, mainly based at its Norwich offices, with a small team based in London and a representative office in New York, where two part time sub-contractors are based. Of these employees, between 35 and 40 at any time are employed as software engineers whose job is to work on research and development projects, create new software and products and customise existing products to meet customer specific requirements.

The remainder of Proxama's employees are divided among the management team, the sales team and the dedicated Client Services team. The Client Services team is comprised of 8 employees based in Norwich who are focused solely on delivering Proxama's various marketing campaigns using the standard features of the core technology platform and who are in daily contact with the brands and media facing customers with which Proxama is currently working.

Enquiries:

Proxama Plc	[phone]
Neil Garner/David Bailey
Grant Thornton UK LLP (Nominated Adviser)	[phone]
Colin Aaronson/David Hignell/Jamie Barklem
SI Capital Limited (Broker)	[phone]
Nick Emerson/Andy Thacker

 

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