Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
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  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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7digital Group PLC (7DIG)

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Thursday 21 July, 2016

7digital Group PLC

Trading Update and Contract Wins

RNS Number : 8025E
7digital Group PLC
21 July 2016
 

7digital

("7digital" or "the Company")

Trading Update and Contract Wins

7digital (AIM:7DIG), the digital music and radio services company, today issues a trading update for the half-year ended 30 June 2016.

 

The Company has a healthy sales pipeline for the second half of 2016, demonstrated by the contract wins announced today, and the Board remains confident of meeting expectations for the full year and continues to anticipate achieving profitability by the end of 2016.

 

Total monthly recurring revenues ("MRR") for the first half rose by 4% against the comparative period last year. Improving sales momentum during the period saw the annualized exit MRR for the period rise by 10% and licensing revenues in June rose by 17% compared with 2015. However, due to termination payments from the legacy BlackBerry contract being included in the prior period and the planned reduction in low margin content revenues, overall turnover was broadly unchanged at approximately £5m.

 

With over 50% of 2016 revenues expected to be denominated in foreign currencies (predominantly US$), the effect of recent currency fluctuations is expected to benefit the Company in the second half of the year.

 

7digital is also pleased to announce that it has in the second quarter been awarded contracts with a combined value of approximately £1.1m, including set up fees and monthly recurring revenues, with growth coming both from new customer wins and from existing or prior customers to whom 7digital is providing additional services.

 

The recent acquisition of leading French digital streaming music provider Snowite (now fully incorporated into 7digital) has, as expected, resulted in new business. The Company has reached an agreement with Cdiscount, a leading e-commerce retailer in France, to launch a new music service in the coming months. Cdiscount enjoys a 34.4% total share of e-commerce in France.

In line with a strategic emphasis on further developing commercial relationships with rights holders, 7digital has reached new agreements with two of the world's major music labels. In addition to continuing to license and provide access to their catalogues for its customers, 7digital will also now provide new services to the labels, which will contribute to the Company's revenues for 2016 and full details will be disclosed in the Company's Interim Results announcement.

 

7digital is also pleased today to announce its first contract using MQA, the high resolution audio technology. The Company has been contracted to develop desktop and mobile applications and handle rights holder reporting, end user management and payment processing for a customer which will launch an MQA service later this year. High resolution audio was identified by the Company a year ago as an important growth segment within digital music and today's announcement builds upon 7digital's early implementation of MQA download stores, in January 2016.

Also in the area of high resolution music files and following the administration of a leading competitor, 7digital is pleased to announce it will now be providing the high resolution downloads for Neil Young's Ponomusic.com music platform. Commercial details are being finalised.

In June this year Guvera, a customer of 7digital, announced a group restructure and put one of its subsidiaries, Guvera Australia Pty Ltd, into administration. Prior to the administration, 7digital worked closely with Guvera to restructure the debt owed to the Company within the Guvera group and to agree a repayment plan. An initial payment of £77,000 has already been made, with the Company expecting the balance of £818,000 to be repaid over 8 months under the revised repayment plan, pursuant to the restructure.

Simon Cole, Chief Executive of 7digital, said:

"Our momentum towards break even and profit continues with over £1m of business closed in the last 12 weeks alone. Although we have only included a few weeks of our Snowite acquisition in the first half's numbers, it is clear from the contract wins that our new French operations will deliver significant business for us. It is particularly pleasing also to see a new relationship with the major music labels and that high resolution audio is beginning, as we expected, to command a premium and that we are reaping rewards for our pioneering work with MQA."

 

Enquiries:

 

7digital Group

020 7099 7777

Simon Cole, Chief Executive

 

Matt Honey, Chief Financial Officer

Holly Ashmore, PR Manager

 

 

 

 

finnCap (nominated adviser and broker)

 

020 7220 0500

Geoff Nash / Carl Holmes - Corporate Finance

 

Malar Velaigam / Mia Gardner - Corporate Broking

 

 

 

 

Weber Shandwick (financial PR agency)

Nick Oborne - [email protected]

Tom Jenkins - [email protected] webershandwick.com

 

About 7digital (http://about.7digital.com)

 

020 7067 0000

7digital is a B2B digital music and radio services company. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.

7digital fosters industry growth and innovation by simplifying access to music for clients such as Onkyo, Fnac, Musical.ly, Global Radio and E.Leclerc. From years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories, and powering services for partners like HMV, Panasonic and ROK Mobile, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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