3 Jul 2014 07:00
For immediate release | 3 July 2014 |
MOPOWERED GROUP PLC
("MoPowered" or "the Company")
Board Change
MoPowered (AIM:MPOW), the mobile commerce specialist, announces that Ben Carswell, Finance Director, is stepping down from the Board and leaving the Company with immediate effect.
The search for a new Finance Director has already been initiated and an announcement concerning his successor will be made in due course. In the meantime, appropriate interim arrangements are in hand.
Enquiries:
MoPowered: | 020 3242 0515 |
Mike Hughes | |
N+1 Singer: | 020 7496 3000 |
Gillian Martin Shaun Dobson | |
Buchanan: | 020 7466 5000 |
Charles Ryland | |
Sophie McNulty | |
Clare Akhurst |
NOTES TO EDITORS
MoPowered is a 'Software-as-a-Service' ('SaaS') platform, launched in March 2012, which works with businesses of all sizes, to automate websites and enable mobile commerce. Key distribution partnerships with PayPal, WorldPay and MasterCard enable the Group to access the majority of UK merchants.
The software platform allows automated development of mobile sites rather than custom deployment with the corresponding time and cost advantages. The commercial model is predominantly based on long-term contracted, recurrent revenues.
MoPowered is well positioned to capitalise on the new types of shopping opportunities created by mobile devices. Retailers face significant challenges and are therefore outsourcing to expert mobile partners such as MoPowered. Management believes that half of the e-commerce market has online sales of less than £20m per annum and SaaS solutions are likely to be the best economic alternative for these merchants.