Concha plc Completed Acquisition of 40 per cent of Moshen (0629C)
10 Abril 2013 - 12:45PM
UK Regulatory
TIDMCHA
RNS Number : 0629C
Concha plc
10 April 2013
10 April 2013
Concha plc
Completed Acquisition of 40 per cent of Moshen Limited
Concha, the AIM listed company investing in media,
communications and technology companies, is pleased to confirm that
further to its announcement on 5 April 2013 it has completed its
acquisition of 40 per cent of the issued share capital of Moshen
Limited, a leading developer and distributor of digital Apps
focusing on the sports, games and entertainment sectors.
Concha has paid consideration of GBP250,000 in cash for a 40 per
cent interest in Moshen and has provided a further GBP250,000 in
the form of a secured term loan, repayable in 10 equal monthly
instalments beginning on 31 May 2013.
Moshen is a specialist developer and distributor for digital
Apps focusing on the sports, games and entertainment sectors. It is
based in Lancaster and currently employs 19 people. Moshen has
built an extensive worldwide client base during its relatively
short three year history and includes official Apps for a number of
leading sporting federations, associations, leagues, clubs and
individuals such as the English Premier League, Manchester United
Football Club, Manchester City Football Club, Chelsea Football
Club, the International Cricket Council, International Management
Group, Professional Darts Championship and Sir Steve Redgrave. In
addition, Moshen has developed a number of proprietary Apps,
including the popular "Darts Night" App which has been downloaded
by approximately 1.6 million users and on which approximately 140
million games have been played.
Moshen was founded in 2009 by the current Chief Executive
Officer and majority shareholder, Graham Baines, who was formerly a
Director of ROK Entertainment Group Inc., a mobile television and
value added services provider for mobile network operators and
handset manufacturers. Following completion of the Moshen
Acquisition, Chris Akers, Executive Chairman of Concha, will become
a Non-executive Director of Moshen in order to monitor Concha's 40
per cent investment and also to give Moshen access to his worldwide
database of sports contacts.
The Directors believe the market for the leading official sports
Apps for the major sporting federations, associations, leagues and
clubs will continue to experience strong growth over the coming
years as a result of their brand strength, large fan bases and
social media followings. Accordingly, the Directors believe Moshen
is well positioned to benefit from its existing and prospective
pipeline of internet, App and SMS releases, which are expected to
generate income through design and build fees, through ongoing
revenue share agreements with the content and intellectual property
owners of premium Apps and through within-App purchases.
Furthermore, Moshen is entitled to a share of advertising revenue
from its proprietary Apps. New product launches for new customers,
continued product development for existing customers and increasing
accessibility of existing products are expected to drive strong
sales growth in 2013.
ENDS
Enquiries:
Concha plc
Chris Akers 07767 775 888
Strand Hanson Limited (Nominated Adviser
and Joint Broker)
James Harris
Andrew Emmott 020 7409 3494
PeterHouse Corporate Finance (Joint Broker)
Jon Levinson
Lucy Williams 020 7926 0935
Notes to Editors
Concha PLC is an AIM listed investment vehicle created after the
disposal of certain intellectual property and assets of the "Hot
Tuna" fashion brand. The Company's strategic objective is to make
investments in technology, media or entertainment companies and/or
assets where the Directors believe there are opportunities for
growth which, if achieved, will be earnings enhancing for
Shareholders. The Directors intend to manage the resulting
portfolio of investments actively to enhance shareholder value
through follow on investments and disposals from time to time.
http://www.conchaplc.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBUGDSSXBBGXG
Concha (LSE:CHA)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Concha (LSE:CHA)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024