Progress and Strategy Update
Mon, 18th Dec 2017 07:00
RNS Number : 5820Z
18 December 2017
18 December 2017
("Proxama", the "Company" or the "Group")
Progress and Strategy Update
Proxama PLC (AIM: PROX), the leading mobile location and data intelligence expert, is pleased to provide the following progress and strategy update.
The Company announces that it has in place four revenue generating location intelligence products, meeting the KPI it set out in its Final Results announcement on 30 June 2017. The Company is now deploying these products via leading agencies and their clients across various sectors, including retail, Â telco and automotive, and helping them solve a number of challenges using location data, such as Â understanding whether their online media spend is driving actual store visits.
Further to the KPIs which were reset in its Interim Results announcement released on 18 September 2017, the Company announces that it has gathered location data from over 6 million consumers, generating over 8 billion data points, exceeding its other two business KPIs (5 milion and 5 billion respectively) and further increasing the value of the location intelligence products that it is selling in the market.
Over the last few months, the Company has also been developing its AI capabilities, hiring sector leading data scientists to deliver first location algorithms for paying customers, whilst its technical team has made significant progress scaling the data infrastructure to handle trillions of data points quickly and efficiently.
Mark Slade, CEO, Proxama, said:
"Since becoming CEO in October 2017, we have made significant progress as we focus solely on the Location Sciences division following the sale of our Payments business.Â The more I work with the incredible data we have, the more confident I am in its value. The conversations we are having with our customers, both current and prospective, are very positive as they can see how powerful and unique our product is.
"We are focused on delivering further products and insights into the market, and are keeping our business overheads to a minimum. For example, we haveÂ taken significant infrastructure and office costs out of the business. My primary focus is on product market fit and ensuring that we are agile enough to respond to this quickly changing market.
"I look forward to providing a pre-close update in January."
November 2017; London: Location Sciences, the mobile location intelligence company, has partnered with On Device Research, the brand effectiveness company, to deliver a new level of accuracy and precision for measuring media effectiveness in driving store visits, not seen in the UK before.
On Device Researchs Mobile Store Effect product will be powered by Location Sciences proprietary first party consumer location data, currently at an audience size of 4 million UK consumers and growing. Unlike traditional snapshot bidstream data, Location Sciences can access consistent background data via its integrated SDKs, providing far deeper and richer understanding of location behaviours. Using this product, consumers can be precisely attributed to a location with accuracy down to 1m.
Both companies are media agnostic, providing an independent and unbiased approach to media measurement. The product has been trialled successfully, with some of the worlds top agencies and their brands using it to prove the value of their media spend by measuring store uplift.
Commenting on the partnership, Alex Boniface, Planning & Activation Director, Havas Media said: "On Device Research is a valuable Havas partner, measuring store uplift for our clients campaigns, which enables us to better understand the effectiveness of the media we buy on their behalf. The impartial analysis On Device Research provide has created real transparency in the market and we are delighted to see them partnering with Location Sciences.
Mark Slade, Location Sciences CEO comments: This partnership signals a new wave of location intelligence in the media market. For a long time this £40 billion market has been operating using sub-standard location data, which has been lacking in transparency and accuracy. Location Sciences has the largest first party data footprint in the UK and were incredibly excited to be partnering with On Device Research and bringing this much called for product to agencies and brands.
Alistair Hill, CEO, On Device Research, concluded At On Device Research, we have led the market in using the unique characteristics of mobile to create ad effectiveness insight for advertisers and their agencies. This insight demonstrates that, on average we see digital campaigns providing a 35.2% uplift in store visit attribution. He continued, Partnering with Location Sciences enables us to provide the market with the much-needed accuracy, scale and transparency it requires. We are excited to be working together and hope our partnership will drive further understanding of digital ad effectiveness.
I am trying to gather support for an EGM in order to remove John Kennedy as CEO of the company.
Having failed the shareholders on multiple counts (failure to grow Proximity Marketing, failure to dispose of or grow Digital Payments) I feel it is time to go. For your information, his salary last year was £170k!!
If you agree, I have set up a separate forum to co-ordinate a call for an EGM, your input would be most valued :-
If they keep going at this rate they'll have to make an offer for the whole company. They're rapidly approaching the 30% mark ! They obviously see great potential here.
Are they alone ??
Your opinion counts ;-)))
I think you're missing something Mr P. The last 4 holding RNSs have been 3 PeelHunt building their stake and James Lee crossing the 3%. Maybe you're confused by the name Proxama at the top of the TR-1 which is the name of the issuer of the shares bought, not the buyer. Hope this helps.
It seems that they have placed a rights issue to raise money and now seem to be buying back their own shares?
Is this correct?
I have now seen to consecutive RNS that says Proxama Plc has bought more shares.
I'm confused can someone else explain or am I missing something.
Yes, Barclays are locked in for a while yet, my average is 0.155p and I expect that will be reached before the year is out. More contracts, trading updates, heading towards profit making, all good signs, keep the faith
GLA LTH like myself
Still kicking myself for only selling half my holding after the DPD sale went down the pan. But with the shares likely to be completely worthless in the event the open offer fails, it's time to protect what's left with a three-part plan:
1) Sell existing holding in open market
2) Take up full allocation of open offer shares and apply for extra to make up for part 1
3) Keep everything crossed that...
a) The fundraising is successful
b) That success boosts the sp
c) There really is a market for the data analysis Proxama is offering
d) The chief exec and his sidekick are smarter than they looked in that recent interview.
Good luck if you're as daft as me and you're still in.
INMO.. Time has now run out with this one.. After all we are nearly into May. Funds were raised via loan sharks when we were lead to believe that there as enough funds to see us through to the end of this year.
Personally I cannot see how they are going to be able to raise funds from hear.
After looking at companies which have been de-listed in the past. This one INMO has all the same characteristics.
A bit of a shame really, but had they been a little more honest six months ago then maybe they would have attracted more investors.
I would imagine that the banks and liquidator will end up with the bulk of the assets to sell to one of the boys for next to nothing.
You certainly have a way with words Ewan, and it's truly been a winter of discontent here, but I think the worst is now behind us and I have been adding small amounts each day to my ISA.
Today was the last day for people to realise tax losses for the current financial year, so I guess some will have done that, but I think tomorrow should be a lot better with some wishing to fill new ISA's. There'll probably be a lot of Bed and Isa's too, so I would imagine that a high volume day is in store. I might even sell the stock I have in my holdings account and buy it back in a new ISA too, so I have a nice tax loss to offset against the gains I hope to make with others later in the year.
Up Protherics, I think management here have learnt a sharp lesson in dealing with Darwin who have been the kiss of death for many AIM companies. Primary Bid now offers a much better alternative and one would hope that if they ever need to raise funds in future they would use that mechanism. One of the other companies I am invested in (VRS) raised funds that way only a month ago and it's up around 70% since then, so it shows what can be done if you allow PI's to participate in raising funds.
This stock will still go up like a rocket if they get a decent price for the DPD or produce a trading statement showing some decent revenues, so I am pretty confident that with a little patience you will be able to recover your investment.
Good luck all, spring is here and our wounds should be healing soon.
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