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3 Dec 2018 18:26
3 December 2018
Taptica International Ltd
("Taptica" or the "Company")
Statement regarding Director and Trading Update
Taptica (AIM: TAP), a global leader in advertising technologies for performance-based mobile marketing and brand advertising, announces that Hagai Tal, CEO of the Company, has today been found liable for certain statements made in relation to the sale of Plimus Inc, a company of which he was both a shareholder and chief executive officer at its time of sale in August 2011. The plaintiffs in the case are entitled to restitution for breaches of certain representations and warranties.
Details of the claim were disclosed in the Company's admission document on page 85 (section 7.9 of Part IV), which is available on the Company's website.
Mr Tal has tendered his resignation from the Board, which the other directors of Taptica are now considering. Further announcements will be made as appropriate.
Trading Update
The Company provides the following update on trading for the current financial year to 31 December 2018.
Since announcing its interim results in September 2018, the Company has continued to perform well and execute on its strategy to deliver higher-margin revenue. As a result, the Company expects to report EBITDA growth in line with market expectations, demonstrating a higher-than-expected EBITDA margin, and revenue below expectations due to the forgoing of some lower-margin sales. Cash generation within the business is also as expected.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014. The Company confirms that it is no longer in possession of any unpublished price sensitive information.
For further information please contact:
Taptica | +972 3 545 3900 |
Tim Weller, Non-Executive Chairman Yaniv Carmi, Chief Financial Officer | |
finnCap | +44 20 7220 0500 |
Corporate Finance: Jonny Franklin Adams, James Thompson, Hannah Boros | |
Corporate Broking: Tim Redfern | |
Berenberg | +44 20 3207 7800 |
Chris Bowman, Mark Whitmore | |
Luther Pendragon | +44 20 7618 9100 |
Harry Chathli, Claire Norbury | |
About Taptica
Taptica International Ltd is a global leader in advertising technologies that operates in more than 70 countries. It has two revenue streams: performance-based marketing, provided by its Taptica business, and brand advertising, provided by its Tremor Video DSP business.
The Taptica business is an end-to-end mobile technology advertising platform that helps the world's top brands reach their most valuable users with the widest range of traffic sources available today. Its proprietary technology leverages big data and, combined with state-of-the-art machine learning, enables quality media targeting at scale. It works with more than 600 advertisers including Amazon, Disney, Twitter, OpenTable, Expedia and Zynga.
Tremor Video DSP is the leading programmatic video platform, matching advertisers with audiences - wherever they may be. Delivering custom video experiences across all screens, Tremor Video DSP helps advertisers tell captivating brand stories to create meaningful, personalised moments with prospective customers. Tremor Video DSP works with the top agencies and advertisers in the US.
Taptica International Ltd is headquartered in Israel with offices in San Francisco, New York, Tokyo (Adinnovation), Beijing, Seoul and London, and is traded on the London Stock Exchange (AIM: TAP).
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