PLEXURE AND MCDONALD’S STRENGTHEN GLOBAL STRATEGIC PARTNERS

2/4/2019, 8:31 am SECISSUE

Plexure Group Limited (PLX) is pleased to announce the extension and enhancement of its strategic partnership with McDonald’s Corporation.

PLX and McDonald’s have agreed to an amendment of the Software as a Service (SAAS) agreement, and in addition McDonald’s are to subscribe for 13,795,311 PLX shares for cash at an issue price of $0.3905 cents per share, representing a representing a 15% premium over the volume-weighted average price of Plexure shares during March 2019.

PLX’s SaaS platform is currently utilised by more than 100 million customers, in more than 48 countries. The key terms of the revised SaaS agreement are:

1. PLX will continue to provide SaaS to McDonald’s restaurants around the world. PLX services are ordered on a per country basis and on a 1 year rolling contract. In return PLX will provide an agreed service level, security and support.

2. Pricing has changed from the original store based pricing to include some upside from usage along with new pricing for new features. Although the actual increase from the new pricing will depend on usage and uptake, PLX estimates this at over $NZD1m a year in additional revenue.

3. PLX has agreed not to provide similar services to a defined list of competitors in the “quick service restaurant” industry for so long as the aggregate net revenue received by PLX meets a minimum threshold in any trailing 12-month period. PLX is not otherwise restricted from providing its services globally.

4. In recognition of the strategic partnership with McDonald’s, while the SaaS agreement is in place and minimum revenue threshold achieved, PLX will notify McDonald’s and has agreed to a limited-time standstill period if it receives a proposal from any one on a defined list of competitors to acquire at least 50% of PLX shares or substantially all of PLX’s assets.

The funds received from McDonald’s subscription for new shares will be used for growth and expansion purposes. Under defined conditions, McDonald’s will have the opportunity to maintain its 9.9% shareholding, subject to any necessary shareholder approvals, if PLX makes a non-pro rata offer to shareholders or otherwise makes a selective issuance of shares.

ENDS

For more information please contact: 
Craig Herbison, CEO Plexure 
Mobile: +64 27 262 2260 
Email: [email protected]

About Plexure

Plexure is a mobile engagement software company. Global brands use the Company’s products to engage consumers on mobile devices and drive them to store with personalised offers, mobile order and pay and loyalty. Plexure’s software integrates with operational systems to remove friction and create a seamless purchase experience for consumers.

Plexure makes the sales process for physical retailers seamless, engaging and profitable by identifying where customers are, what they want and then facilitating their purchases.

The Company’s technology platform and product offering covers five key capabilities: 
• Mobile order and pay 
• Next generation loyalty programmes 
• Personalised offers 
• Analytics 
• Seamless operations integration

Brands that use Plexure see an increase in customer numbers and visit frequency, higher average transaction values, larger share of wallet and improved customer satisfaction scores.

The Company now has over 110 million end users on its platform in over 49 countries.

Plexure has offices in Auckland, Chicago, Atlanta, Tokyo and Copenhagen. Clients include McDonald’s, 7-Eleven, Ikea, and Loyalty New Zealand.

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