Media Release: VMob Undertakes Share Consolidation
MEDIA RELEASE FOR IMMEDIATE RELEASE
VMOB UNDERTAKES SHARE CONSOLIDATION
21 April 2015 – VMob Group Limited (VMob) (NZAX: VML), a technology company operating in the mobile sector, today announced that the board of directors has resolved to undertake a consolidation of its share capital on a 25 old for 1 new share basis. The share consolidation was approved by the board of directors on 15 April 2015. Upon completion of the share consolidation, a total of 58,736,263 ordinary shares will be outstanding.
The reason for the consolidation is to prepare for an IPO on the Australian Stock Exchange (ASX) and to support the further “institutionalisation” of the share register, as previously notified to the market on 19 March 2015. One of the likely conditions of listing on the ASX is that VMob’s shares must have a market price of at least A$0.20 at the point of listing on the ASX.
It is important to note that, while the consolidation will reduce the number of shares held by shareholders by a factor of 25, the consolidation will not impact each shareholder’s relative percentage shareholding in VMob.
The indicative timetable for the share consolidation is as follows:
- 15 April 2015 - share consolidation proposal notified to NZX in accordance with Rule 10.7.1 of the NZAX Listing Rules.
- 21 April 2015 – share consolidation announced to the market, notice of consolidation to shareholders and Appendix 4 notice lodged with NZX.
- 1 May 2015 – last day for trading in pre-consolidation shares on the NZAX Alternative Board.
- 6 May 2015 – record date for the consolidation.
- 7 May 2015 – commencement of trading in post-consolidation shares on the NZAX Alternative Board.
- 7 May 2015 – despatch of holding statements to shareholders.
For further information please contact:
Steve Allan, CFO, VMob Group Limited, [email protected], +64 27 480 9991
VMob is an end-to-end mobile personalisation platform that lets retailers and other customer-facing brands create highly personalised marketing campaigns to reach customers at exactly the right time and place – resulting in much higher conversion rates.
The VMob platform integrates with each brand’s own smartphone app to continuously collect and store a range of real-time data (including location, movement speed, local weather and nearby events), combining it with information on past transactions through its IoT platform to deliver a level of personalised content not possible with other media.
Offers, campaigns and content personalised with this data are delivered within the smartphone app, and to other channels via API connections.
VMob is based in Auckland, New Zealand and is listed on the NZX Alternative Market (NZAX: VML).
VMob has already achieved success in worldwide markets with strong partnerships and clients including McDonald’s, Exxon, Anheuser Busch, Spark New Zealand, Telkom Indonesia, Loyalty New Zealand, and Yellow Pages New Zealand.
Visit www.vmoblive.com for further information