MPM.L Regulatory News (MPM)

24 November 2014

MOPOWERED GROUP PLC

("MoPowered" or "the Company")

Trading Update

and

Board Appointment

Trading

Since the placing, which was announced in September 2014, eight new target mid-tier clients have been signed up, bringing the number of new clients signed up so far in the second half of the year to 17. Notable wins include luxury brands such as Duchamp and Forzieri and spare parts supplier, Adrenalin Pedstop.

This number of new client wins is, however, lower than management expectations. The contract sizes for these new customers have also been somewhat lower. Accordingly, based on these factors and a delay in certain project revenues coming through, the revenue for the second half and therefore the year as a whole is expected to be lower than the market expectation of £1.6 million. Consequently, as part of a strategic review, the Board has identified significant further cost savings which it is in the process of implementing to control cost and conserve cash.

The Company is in the final stages of development of a major new product release, for which a trial site has demonstrated improved revenue-generation metrics for the Company's clients. The Directors believe the new technology will also deliver faster on-boarding times. Initial feedback from clients has been positive. Further details will be released in due course.

Board Appointment

The Company is pleased to announce the appointment of a new Finance Director and Company Secretary, Richard Gordon, to the Board, with immediate effect. Richard brings with him significant experience, gained in various senior finance roles. Richard is a Fellow of the Institute of Chartered Accountants in England and Wales, with his most recent role having been Managing Director at Direct Health Group Limited. Richard has previous experience working with public companies, having been Finance Director at Broadcastle Plc (which was acquired by Siemens Financial Services Ltd and delisted in 2005) and Finance Director at Rubicon Software Group Ltd, where he had a leading role in Rubicon's Admission to AIM. He has also provided Consultancy Services to a number of companies including Eurovestech which at the time was listed on AIM. Richard will devote at least 2.5 days per week to the Company, spending more time as required.

Ends

For further information:

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:

Richard James Gordon (aged 60)

Current directorships:

Chance (UK) Limited (a registered charity)

Previous directorships in the previous five years:

At Your Service (Care) Limited

Brichester Limited

Direct Health Group Limited

Direct Health (UK) Limited

D H Homecare Limited

There is no further information to be disclosed pursuant to Schedule Two Part (g) of the AIM Rules for Companies.