Mysquar Regulatory News (MYSQ)

MySQUAR Limited ("MySQUAR" or the "Company")

User Acquisition update

MySQUAR, the Myanmar-language social media and entertainment platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications, is pleased to announce an update in its user acquisition numbers which continue to grow strongly. 

As at 31 December 2015, the total number of users of MySQUAR's products were in excess of 2,000,000 representing an increase of more than 150 per cent on total users as at 31 May 2015, being 774,636 total users as stated in the Company's AIM Admission Document.

Commenting on the growth in user numbers CEO Eric Schaer said:

"As 2015 developed it became clear that we were meeting our targets well ahead of expectations and this latest update on user acquisition robustly maintains that trend. At the time of our AIM listing in July 2015, we were targeting around 1.5m users by the end of the year; to have surpassed that target by over 30 per cent is extremely gratifying. It builds considerably upon the strength of our commercial proposition and follows soon after our move into mobile payment provision with MyPAY, which has already contributed implementation revenue, and the cross-promotion partnership with the telecommunications provider Ooredoo. In 2016, we anticipate more aggressive development of multiple monetization platforms in the areas of advertising, payment services, digital products and games and look forward to updating investors on our progress."

-Ends-

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