SOURCE: AppBox Media PLC

November 14, 2014 02:13 ET

AppBox Media PLC Corporate Update

LONDON--(Marketwired - Nov 14, 2014) -


AppBox Media PLC

14th November 2014

AppBox Media PLC

("AppBox Media" or "The Company")

THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR
PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE
UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION,
RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL

Corporate Update

The Board of AppBox Media, a UK based developer of mobile applications
and video games, provides the market today with an update on a series
of key developments that progress the Company closer towards its vision
of becoming one of world's leading game software developers.

- Key Points

- First, second, and third round funding fully subscribed at
prices of GBP1.00 and GBP2.10 per Ordinary A share.

- Fourth round Offer for Subscription is scheduled to open at
9am on the 2nd February 2015, priced at GBP4.30 per Ordinary A Share of
GBP1. The Company intends to raise approximately GBP860,000 from
institutional and private investors on the basis of a current
Information Memorandum. These shares are to be credited as fully paid
and will rank pari passu with the Ordinary A Shares.

- The Board considers the price for the new shares to be fair
and reasonable insofar as the Company's shareholders are concerned.

- The Company has been revenue producing since July 2014.

- The Company is presently one year ahead of the forecasted rate
of growth in respect of scheduled release titles.

- The Company is considering the opportunities (via the
potential acquisition or otherwise of the Livewire TV and digital games
brand [UK]), pertaining to digital games streaming by way of Smart
TV. It is reported Smart TV sales reached 90 million units worldwide in
2013 and will grow at 21% CAGR to reach 228 million in 2018, according
to the new Smart TV Report from Futuresource Consulting.

- The Company is pleased to announce the release of its new iOS7
and Android based mobile game, titled 'Rage Quit Monkey' ('RQM'); which
has been the culmination of many months of hard work and integrates
camera functionality with social media connectivity. RQM takes a
picture of the player in a frustrated state and allows them to share
this picture over social media platforms.

Commenting on today's news, Polat Hassan, CEO, said:'We are delighted with
our progress thus far, we have a team who have
worked for major multinational corporations, such as SEGA, Virgin,
Spotify, Google, Yahoo and Universal Pictures to name but a few. We
shall be looking to make some significant announcements during the
first and second quarters of 2015'

Enquiries:

AppBox Media Plc

Polat Hassan, CEO+44 (0)203 440 4110

 investorrelations@appboxmedia.com 





Disclaimer: This announcement is for information purposes only and does
not constitute or form part of an offer or invitation to acquire or
dispose of any securities of AppBox Media Plc, or constitute a
solicitation of any offer to purchase or subscribe for securities in
any jurisdiction





                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

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