MIGme Ltd.: Market update
(firmenpresse) - Market update
During recent institutional presentations throughout Europe and Asia by migme ceo Steven Goh significant demand for migme stock was expressed. As a consequence it was decided that a placementwas the best mechanism to facilitate these new Shareholdersand maintain an orderly market.
However as a result of the volatility in world markets and the migme share price during the post 14 days and despite expressions of support from our major shareholders,it is no Ionger possible to complete the proposed placement at the quantum and price premium as originally intended by the company. ln the interests of the existing migme Shareholders the board has subsequently cancelled the proposed placement
As at 31 December 2014,migme has $5.9m of cash on hand,and over 10m monthly active users and growing. Revenues from its core social entertainment plotform business are rising,acquisitions are being integrated, and costs associated with positioning the company for growth is falling away.
The Board will continue to assess strategic funding options as they arise. However,the Company has no immediate need to raise additional capital.
migme shareswill be released from suspension and resume trading on the
Australion Securities Exchange this moming (Tuesday 3 February).
Michael Higginson
Company Secretary
Media contact
Luke Forrestal
Mobile: (+61) 411 479 144 lforrestal(at)canningspurple.com.au
migme Limited ABN 43 059 457 279
13136 Jolmson Street,G1dldjol'd, Western Australla 6055
Mailing Address: PO Box 566, Belmont, Western Australia, 6984,Telephone:+61-8-9378 1188
Operations:migJJ Pte Lid 111 North Brilige Road, #26-01 Peninaula Plazo, Singapore 179098
About migme Limited
migme Limited (ASX:MIG I WKN:A117AB) is a global digital media company
focused on ernerging markets.We deliver social entertainment services
through the group's main plotform migme,and through solds.sg,LoveByte,
and ortist management website alivenotdead.The company is listed and registered in Australia.Headquarters are in Singepore with offices in Malaysia, lndonesia,Taiwan and Hong Kong. -
For more information,please
visit http://company.mig.me
Leseranfragen:
Datum: 03.02.2015 - 12:53 Uhr
Sprache: Deutsch
News-ID 368741
Anzahl Zeichen: 2394
contact information:
Town:
Wien
Kategorie:
Business News
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