REG-MediaZest Plc: AGM Statement

MediazestAnnouncement

31/03/2025 07:15

31 March 2025

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

MediaZest Plc

(“MediaZest”, the “Company”, or the “Group”)

 

AGM Statement

New business opportunities and short-term financing update

 

MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider,
announces it will hold its Annual General Meeting (‘AGM’) at 11am today
at Unit 9, Woking Business Park, Albert Drive, Woking, GU21 5JY. Ahead of the
AGM, the Company’s Group Chief Executive, Geoff Robertson, has issued the
following statement:  

 

“I am pleased to announce that Group performance in all three core sectors
in which it operates: Retail, Automotive, and Corporate Offices, has been
strong. All three sectors are underpinned by a strong forward order book and
visibility into this financial year, as referenced in our Final Results on 7
March.  

 

“We are pleased to confirm that, in addition to the £500K revenues received
since 1 January 2025 and announced in our 18 March trading update
(https://www.londonstockexchange.com/news-article/MDZ/trading-update/16945190),
we have subsequently signed contract extensions and new projects worth
approximately £300K with key customers including Pets at Home, Hyundai, Big
Group Retail and Lululemon, to be delivered in the coming 12 months.

 

“The outlook for FY25 remains positive. The Board expects to see further
improvements in the Company’s financial performance, as key customers look
to expand current contracts and continue to roll out digital signage
installations across multiple sites, both in the UK and overseas, for some
clients on a pan European or global scale.

 

“We have also been encouraged by ongoing conversations following the success
of our ‘proof of concept’ project to install digital currency boards in
Post Office branches across the UK. We believe this opportunity, if converted,
would have a signficant impact on the performance of the business, and we look
forward to providing our shareholders with further updates as appropriate.

 

“It’s encouraging to see the momentum that we have achieved so far in this
new financial year and we remain optimistic that we can generate significant
value for our shareholders, as we target further year-on-year growth and a
return to profitability at the pre-tax level in FY25, having already recorded
a positive EBITDA performance in FY24.”

 

Financing Update

Invoice Discounting Facility

With improvement in MediaZest’s business in recent months, the Group has
repaid a significant amount of the debt in relation to the Company’s
existing invoice discounting facility with Royal Bank of Scotland which it has
reduced from £203,000 as at 30 September 2024 to £34,000 as at 28 March
2025. MediaZest intends to repay this facility in full by the end of May 2025,
resulting in an annual cost saving of approximately £30,000.

 

Short-term Director Loan

To maintain momentum with current business development opportunities, the
Group has entered into a short-term funding agreement for up to £60,000 with
James Abdool, a Director of the Company (the “Loan”). The Loan, which is
unsecured and carries an annual interest rate of 10% (in line with existing
loans), will assist the Company with hardware procurement in the interim
period, before the benefits of current new business development opportunities
are realised.

 

Related Party Transaction

As James Abdool is a Director of the Company, the Loan constitutes a related
party transaction in accordance with AIM Rule 13 of the AIM Rules for
Companies.

 

Geoff Robertson and Lance O’Neill, who are all considered to be independent
Directors for these purposes, having consulted with the Company's nominated
adviser, consider the terms of the Loan to be fair and reasonable insofar as
the Company’s shareholders are concerned.

 

 

For further information please contact:    

 

 MediaZest Plc                                                          www.mediazest.com                                                     
 Geoff Robertson, Chief Executive Officer                               via Walbrook PR                                                       
                                                                                                                                              
 SP Angel Corporate Finance LLP (Nomad)                                 Tel: +44 (0)20 3470 0470                                              
 David Hignell / Adam Cowl                                                                                                                    
                                                                                                                                              
 Hybridan LLP (Corporate Broker)                                        Tel: +44 (0)20 3764 2341                                              
 Claire Noyce                                                                                                                                 
                                                                                                                                              
 Walbrook PR (Media & Investor Relations)  Tel: +44 (0)20 7933 8780 or mediazest@walbrookpr.com                                               
 Paul McManus / Lianne Applegarth Alice Woodings                        Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303 / +44 (0)7407 804 654  
                                                                                                                                              

 

About MediaZest (www.mediazest.com)

MediaZest is a creative audio-visual solutions provider that specialises in
delivering innovative digital signage and audio systems to leading retailers,
brand owners and corporations. The Group offers an integrated service from
content creation and system design to installation, technical support, and
maintenance. MediaZest was admitted to the London Stock Exchange's AIM in
February 2005.

 

MediaZest’s new AIM rule 26 investor site is now available to view on the
Company website here: https://www.mediazest.com/about/investor-relations/



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