1 May 2019 07:00
Location Sciences Group PLC
("Location Sciences" or the "Company")
AGM Statement
Location Sciences Group PLC (AIM: LSAI), the pre-eminent global location verification provider to the $106 billion digital advertising industry, is holding its Annual General Meeting ("AGM") at 4.00pm today at The Office Group, 19 Eastbourne Terrace, Paddington London W2 6LG. Ahead of the formal business of the AGM, Kelvin Harrison, Non-Executive Chairman of Location Sciences, will make the following statement:
"2018 was a landmark year for Location Sciences with the completion of its transformation from a digital payments and proximity marketing business into a location intelligence specialist.
Our new management team has been busy. In 2018, they delivered 519% growth in like-for-like revenues as well as developing Verify, the world's first independent and media agnostic location verification tool, which the Board believes will play a crucial role in the rapidly growing global advertising market. This has now been launched in both the UK and US markets with significant progress being made in just a few months.
I was delighted with yesterday's announcement regarding the partnership with SITO Mobile Ltd and the launch of our Verify Supply platform. Verify Supply is a natural extension to our existing verification products, providing an independent hallmark of quality to media inventory suppliers with the objective of bringing trust back into the industry. This opens the door to a new revenue stream for the Company and will help us to raise awareness of location ad-fraud across the broader market.
We are also pleased to announce that Niall Hogan will be appointed as a non-executive director of the Company, following the conclusion of the AGM, bringing his first-hand experience of building a successful verification business in the adtech industry. A further announcement will be made in due course.
The Board is pleased with the progress that the Company is making and we look forward to updating shareholders in due course."
For further information please contact:
Location Sciences Group PLC via Milk and Honey PR
Mark Slade, Chief Executive Officer
David Rae, Chief Financial Officer
Stockdale Securities Limited Tel: +44 (0)20 7601 6100
Tom Griffiths
David Coaten
Milk & Honey PR Tel: +44 (0)20 3637 7310
Kirsty Leighton
Jessica Ballinger
About Location Sciences Group PLC:
Location Sciences is the pre-eminent global location verification provider to the $106 billion digital advertising industry. Working in partnership with brands, media agencies and suppliers to reduce ad-wastage and improve the effectiveness of location-based advertising campaigns.
The digital advertising market place remains unregulated and un-monitored, with an estimated $19 billion wasted on ad-fraud in 2018. Location Sciences has developed Verify, the world's first independent location verification product. Utilising sophisticated machine learning and pattern recognition technologies Verify detects location ad-fraud and shines a light on location data inaccuracy with the aim of bringing back integrity, transparency and trust to the market place.