Mediazest Regulatory News (MDZ)

15 July 2024

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

MediaZest Plc

(“MediaZest”, the “Company”, or the “Group”)

Further £500,000 in new orders secured

Existing clients continue to roll-out digital signage across multiple sites

Initial project win for digital currency screens “proof of concept”

MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider, announces it has secured an additional £500,000 of new business over the past two months, with existing key customers continuing to roll-out digital signage installations across multiple sites in the UK and Europe, and a new client initiating a “proof of concept” project to supply digital currency screens in UK high street locations.

Projects undertaken for existing clients include a further roll-out of new digital signage across eight UK Pets at Home stores, a further three installations in Lululemon Athletica stores in Oslo, Stockholm and Berlin, and additional Kia dealerships in Europe.

The new client project win is an initial three month “proof of concept” contract to install digital currency screens and content management software across a number of UK locations. If the project is successful in demonstrating digital signage as an effective alternative to the current static displays, there is the opportunity for MediaZest to expand this engagement.

As a result of these wins, the Company remains on track to deliver year-on-year organic revenue growth and continues to target a return to profitability. The substantial increase in recent project wins has also significantly improved cash generation in the second half of MediaZest’s financial year.

Geoff Robertson, Group Chief Executive, commented: “We are so pleased to be building momentum with existing clients; their desire to expand digital signage into new locations is testament to the success of these current projects.

“We are also delighted to be working with new clients as they begin their journey with digital signage. The Group’s vast experience and ability to fulfil all elements of a project from content creation plus design and build services, through to installation and then ongoing support and maintenance across the UK, Europe, and in some instances globally, is proving attractive.

“The contracts announced today demonstrate the Group’s ability to successfully convert its pipeline into revenue-generating deals with long term substantial growth opportunities. We remain encouraged by recent progress and our ability to continue to build value in the business.”

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About MediaZest (www.mediazest.com)

MediaZest is a creative audio-visual solutions provider that specialises in delivering innovative digital signage and audio systems to leading retailers, brand owners and corporations. The Group offers an integrated service from content creation and system design to installation, technical support, and maintenance. MediaZest was admitted to the London Stock Exchange's AIM in February 2005.