The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Tuesday 23 July 2019
New CEO Tom Smith to lead Mporium restructure
Mporium logoAIM-listed digital marketing technology company Mporium Group plc has appointed Tom Smith as its new CEO and provided an update on its restructuring plans.
Smith, who succeeds Nelius De Groot, has joined the board with immediate effect. He joined Fast Web Media in 2008, which was acquired by Mporium in 2015 and sold earlier this month. Smith became Head of MporiumX on its launch in November 2018 and has been Managing Director of the Group since June 2019. De Groot will remain with the Company as a Non-Executive Director until the end of August.
Mporium has also announced it expects the restructuring plan for the business to be completed by the end of this month. Revenue for the year ended 31 December 2018 was down 54% to £0.91m (2017: £1.98m) as the company failed to achieve sufficient business from its Agency division and Fast Web Media generated significant losses. The Group made an operating loss of £7.73m in 2018, compared to a loss of £3.87m in the previous year.
In June it raised £1.9m from a share issue to help it restructure the business and provide working capital (see Mporium raises £1.9m for restructure). In July it sold Fast Web Media to International Agency Group for a nominal consideration of £7,500.
The restructure will see Mporium concentrate on its MporiumX division, which uses it proprietary IMPACT technology to drive digital advertising campaigns on a pay-for-performance basis, and narrow its focus to specific business sectors, including the sports and consumer regulation sectors, and license its IMPACT platform through a self-service offering.
2018 was a very difficult year for the business, but management states it has made encouraging progress with its restructure and is confident the leaner structure will drive growth. In April it reported total revenues booked to the end of February 2019 exceeded £5.4m, with MporiumX accounting for 95%.
http://www.techmarketview.com/ukhotviews/archive/2019/07/23/new-ceo-tom-smith-to-lead-mporium-restructure