AGM Statement

RNS Number : 9304O

Zoo Digital Group PLC

26 September 2013

 



26 September 2013

ZOO DIGITAL GROUP PLC

("ZOO" or "the Company")

AGM Statement

At ZOO's Annual General Meeting to be held later today, Roger Jeynes, Chairman, will make the following statement:

"We are pleased to report that positive trading momentum following a period of investment and restructuring, as reported at the time of our preliminary results in August, has continued into the first half of the year, and we remain profitable at the EBITDA level.

Good progress is being made against our strategic goals, which include diversifying our customer base and bringing new products and services to market. In particular, ZOOsubs, our proprietary Cloud-based subtitle production and management system has received endorsement from a number of new customers. At the time of our preliminary results we announced that we expected to formalise our engagement with a third major film studio. We are pleased to report that this has materialised and ZOOsubs has now been selected by three of the six major film studios.  This early success underlies our belief that this is an area of potential significant growth for the company.

We continue to grow recurring revenues from our workflow management platform, ZOOcore, not only in relation to our ZOOsubs proposition where it is a key component, but also from a range of new customers in the creative industries.

The board is pursuing an extension in the term of its convertible loan note of $2.7m (£1.77m), which is due to mature on 31 October 2013. Since the major loan note holders are also major equity holders, the board is confident that amended terms will be agreed prior to the maturity of the current term.

We believe that the diversified range of products and services we have developed provide us with exciting new opportunities which are already bearing fruit. While we remain alert to wider economic uncertainties, we are confident for the year ahead."

A short presentation on the Company's capabilities will be given by Stuart Green, CEO of ZOO, during the AGM. A copy of the presentation will be available on the Company's website (www.zoodigital.com) subsequent to the meeting.

Ends

For further enquiries please contact:

ZOO Digital Group plc	0114 241 3700
Stuart Green - Chief Executive Officer
Helen Gilder - Group Finance Director
FinnCap	020 7220 0500
Ed Frisby / Henrik Persson
Newgate Threadneedle	020 7653 9850
Josh Royston / Hilary Millar

About ZOO Digital Group plc:

ZOO Digital Group plc provides software and related services that support the authoring, re-purposing and distribution of creative media. ZOO's products form an integrated suite of cloud-based and desktop applications for audio/visual content and printed materials, adapting these media for different languages, formats and delivery mechanisms.

By centralising editorial and approval processes via secure cloud-based platforms, ZOO's proprietary patented software helps customers to increase their speed of production, reduce costs and protect their brand integrity. ZOO's services enable quicker and more cost effective processes across a wide range of applications and formats, including packaging, printed materials, DVD, Blu-ray Disc, video on demand, electronic sell-through, broadcast, music and electronic books.

The Group's largest customers include major Hollywood studios, for which the production, marketing and distribution of titles in numerous formats across many geographies and languages has previously been a lengthy, costly and largely manual process. Increasingly the Group's software is benefiting a variety of companies across sectors where the development of media products, printing, packaging and marketing involves complex processes in multiple countries and languages, particularly where brand integrity is of core importance.

 

END

 

 

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