Mediazest Regulatory News (MDZ)

17 Aug 2011 07:00

17 August 2011 MediaZest Plc Trading and business update Appointment of new Sales Director

MediaZest Plc ("MediaZest" or "the Group"; AIM: MDZ), the creative digital out-of-home advertising company and audio-visual integrator, provides the following trading update.

Group trading results were below previous expectations for the year ending 31 March 2011 as a consequence of the sales performance in the second half of the year, prior to the fundraising at the end of the 4th quarter of that financial year. However, Group revenues have improved since the start of the new financial year in April 2011 with turnover of £800,000 for the quarter ended June 30 2011. This improvement in turnover is expected to carry through into the quarter ending 30 September 2011 The Board is pleased to announce £200,000 worth of new and additional work with a long standing customer in the form of a roll out of bespoke audio technology into over 100 retail stores. In addition, the Group has secured a contract worth over £120,000 with a new client, the West Bromwich Building Society. Furthermore, the Group continues to work with a number of high profile clients including O2, Barclays Bank, Kuoni and Fiat as well as gaining business from new clients British Gas, FiloFax and Astra Zeneca.

Further to the announcement made by MediaZest on 2 March 2011 relating to a proposed conversion of £90,000 debt to equity at 0.55pence per new ordinary share, the Board plan to seek the necessary authorities in combination with the Annual General Meeting, to be held in September 2011.

The Group announced on 2 March 2011 that it intended to finance growth of its operations from the proceeds of its capital raising and is, therefore, pleased to announce the appointment of James Abdool as an executive Director of MediaZest and as Sales Director with immediate effect. Prior to his appointment, James has been working with the Group as a consultant for the last few months.

James has been actively involved in Sales and Marketing for a number of media related companies since 1994. He most recently worked with PlayNetwork Inc. where he was instrumental in setting up their international operations throughout Europe, the Middle East and Africa (EMEA). Prior to this, he worked at EnQii, the global digital signage and display network company, heading up its EMEA operations and Imagesound Plc as Retail Sales Director. Prior to his involvement in these companies, he developed and subsequently completed the sale of his family's digital out of home audio business.

Commenting on James' appointment, Geoff Robertson, MediaZest's CEO, said "James is an experienced company director and his appointment will broaden the range of skills and expertise available to the Board. Furthermore, the Board views his appointment as an important step in achieving its strategy of improving both the quality of the Group's revenues and volume of sales".

Further Information

James Christopher Abdool, aged 40, is beneficially interested in 1,818,182 ordinary shares in the Group, representing 0.73 per cent. of the Company's issued ordinary share capital. James Abdool has held the following directorships or partnerships within the last five years.

Current Past MediaZest plc Playnetwork Ltd Copthorne School Trust Ltd TSC Music Systems Limited

Copthorne School Services Ltd The Evelina Family Trust

There are no further disclosures to be made in accordance with schedule 2 (g) of the AIM Rules.

Notes to Editors:About MediaZestMediaZest is a creative media agency that specialises in providing innovativeout-of-home marketing solutions to leading brand owners and media agencies. Thegroup supplies an integrated service from content creation and system design toinstallation, technical support and maintenance. MediaZest has its headquartersin London, whilst Touch Vision, its design and engineering division, is basedin Farnham in Surrey. Its customer base includes Adidas, Boots, Chivas, Diesel,L'Oreal, Motorola, Nintendo, Nokia, O2, Shell and Vodafone. MediaZest wasadmitted to London's AIM market in February 2005. For more information, pleasevisit www.mediazest.com.Enquiries:Geoff Robertson, 020 7724 5680 Chief Executive Officer MediaZest Plc Gavin Burnell / Rod Venables 020 7796 8800 Nominated Adviser

Northland Capital Partners Limited Claire Noyce, Broker 020 7947 4350

Hybridan LLP