Last checked at 1 Dec 2006 13:57
Date: 01 December 2006
On behalf of: themutual.net plc ("TMN" or "the Company")
For immediate releasethemutual.net plc * Result of AGM
The Board of themutual.net plc (AIM: TMN), the UK's premier online direct marketing group, is pleased to announce that at its AGM held today at 1st Floor, 69-73 Theobalds Road, London, WC1X 8TA at 9am, all resolutions were duly passed, with the exception of the resolution to give power to allot shares for cash on a non-pre-emptive basis.
The Company is highly cash generative, and has no intention to issue shares for cash at present. It will seek specific shareholder authority for non-pre-emptive cash issues if any such need arises.
It is expected that the change of name from "themutual.net PLC" to "TMN Group plc" and the re-admission of the issued share capital will become effective on 4 December 2006.
The Company will announce its interim results for the six months ended 31 October 2006 on Thursday, 7 December 2006. A briefing for analysts will be held at 0930hrs on that day. For further details please contact Yinka Giwa, Redleaf Communications on 020 7822 0200.
- ends -Enquiries to:TMN Mark Smith, CEO 020 7440 9310 Peter Coveney, CFO Redleaf Communications
Emma Kane / Duncan McCormick / Samantha Robbins 020 7822 0200
Notes to Editors:
* Themutual.net ("TMN") was established in 1999. * The Company comprises of three core divisions: * TMN Media: email marketing specialist, with over 10 million highly profiled, permission-based email addresses across over 32 lists, manages the most comprehensive portfolio of email databases in the UK. Also operator of the largest online reward scheme in the UK. Clients include Sky, T-Mobile, British Gas, EMAP, Volvo and Boots. * EDR: online interactive advertising agency, plans campaigns across dozens of third party lists, including those operated by TMN Media, and is the largest buyer of email advertising in the UK. Clients span a number of sectors, including finance, motoring, publishing and shopping. * The iD Factor: specialists in online market research, with 250,000 panel members in the UK and over 4 million members across 41 territories, managed via a network of local partnerships, allowing targeted domestic and international research. Clients include numerous MR Agencies, producing work for Microsoft, Lloyds TSB, NSPCC, Persil, Carlsberg and PC World. * TMN is committed to the development of new initiatives to drive the growth of its business. * TMN Enterprise has been created to manage all new developments for the Group. The first development, launched in September, is a web-based lead generation system called "Lead It", designed to assist advertisers in building their databases. * ICD Research has been established as an autonomous division providing clients with insight and analysis of market research data. * Operating in rapidly growing market * Over ‚£1.4 billion spent on internet advertising in 2005 - ‚£917.2m spent during H1 2006, a 40.3% increase on a like-for-like basis compared with H1 2005 (Source: IAB) * Online advertising now represents over 10% of the total advertising market - and is the fastest-growing segment of the market (Source: IAB) * Online Retail spend predicted to reach ‚£40 billion by 2010 (Source: Forrester Research) * Focus on dominating UK market in key areas of online advertising and market research * Members of the Direct Marketing Association (DMA) and International Advertising Bureau (IAB)
themutual.net PLC