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RNS Number : 6520X
Location Sciences Group PLC
01 May 2019
 

Location Sciences Group PLC

("Location Sciences" or the "Company")

AGM Statement

 

Location Sciences Group PLC (AIM: LSAI), the pre-eminent global location verification provider to the $106 billion digital advertising industry, is holding its Annual General Meeting ("AGM") at 4.00pm today at The Office Group, 19 Eastbourne Terrace, Paddington London W2 6LG. Ahead of the formal business of the AGM, Kelvin Harrison, Non-Executive Chairman of Location Sciences, will make the following statement:

 "2018 was a landmark year for Location Sciences with the completion of its transformation from a digital payments and proximity marketing business into a location intelligence specialist.

Our new management team has been busy. In 2018, they delivered 519% growth in like-for-like revenues as well as developing Verify, the world's first independent and media agnostic location verification tool, which the Board believes will play a crucial role in the rapidly growing global advertising market. This has now been launched in both the UK and US markets with significant progress being made in just a few months.

I was delighted with yesterday's announcement regarding the partnership with SITO Mobile Ltd and the launch of our Verify Supply platform. Verify Supply is a natural extension to our existing verification products, providing an independent hallmark of quality to media inventory suppliers with the objective of bringing trust back into the industry. This opens the door to a new revenue stream for the Company and will help us to raise awareness of location ad-fraud across the broader market.

We are also pleased to announce that Niall Hogan will be appointed as a non-executive director of the Company, following the conclusion of the AGM, bringing his first-hand experience of building a successful verification business in the adtech industry. A further announcement will be made in due course.

The Board is pleased with the progress that the Company is making and we look forward to updating shareholders in due course."

 

For further information please contact:

 

Location Sciences Group PLC                                                              via Milk and Honey PR

Mark Slade, Chief Executive Officer 

David Rae, Chief Financial Officer   

               

Stockdale Securities Limited                                                                 Tel: +44 (0)20 7601 6100

Tom Griffiths        

David Coaten       

               

Milk & Honey PR                                                                                  Tel: +44 (0)20 3637 7310

Kirsty Leighton   

Jessica Ballinger  

 

About Location Sciences Group PLC:

 

Location Sciences is the pre-eminent global location verification provider to the $106 billion digital advertising industry. Working in partnership with brands, media agencies and suppliers to reduce ad-wastage and improve the effectiveness of location-based advertising campaigns.

 

The digital advertising market place remains unregulated and un-monitored, with an estimated $19 billion wasted on ad-fraud in 2018. Location Sciences has developed Verify, the world's first independent location verification product. Utilising sophisticated machine learning and pattern recognition technologies Verify detects location ad-fraud and shines a light on location data inaccuracy with the aim of bringing back integrity, transparency and trust to the market place.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Location Sciences Group PLC

Price: £0.03

Market: LSE
Market Cap: £10.3 m
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