28 Apr 2016 07:00
7digital Group plc
("7digital", "the Group" or "the Company")
AGM Statement
Management and Board Changes
7digital (AIM:7DIG), the digital music and radio services company, announces that at today's AGM the Chairman, Don Cruickshank, will confirm that trading continues to be in line with the Board's expectations that the Group will achieve profitability by the end of 2016.
During 2016 to date the Company has been awarded 6 new contracts, which together over their duration have total value of £3.9 million, including set up fees and monthly recurring revenues.
Following its acquisition of Snowite (now 7digital France), 7digital continues to strengthen the management team, most recently with the appointment of Philippe Decottignies to the position of Chief Technology Officer and Edward Kershaw to the role of Chief Commercial Officer. In addition, Amy Wallace has been appointed to the role of Company Secretary with immediate effect; Amy will continue in her existing role as VP Legal & Business Affairs.
The Company also announces that Ben Drury has withdrawn his re-election at the AGM as non-executive director and has resigned from the Group. Ben is leaving to pursue other non-competitive opportunities, having stepped down from an executive function last year.
Sir Don Cruickshank, non-executive chairman of 7digital, commented: "We would like to thank Ben for his many years of service to 7digital. His contribution and experience have been invaluable to the Company and we wish him well in his new ventures."
Enquiries:
7digital Group |
020 7099 7777 |
Simon Cole, Chief Executive | |
Matt Honey, Interim 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 - NOborne@webershandwick.com Tom Jenkins - TJenkins@ 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, Guvera, Global Radio and The Overflow. 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.