RNS Number : 6542D

Pelatro PLC

23 June 2023

23 June 2023

Pelatro Plc

("Pelatro" or the "Group")

AGM statement

At Pelatro's Annual General Meeting ("AGM") to be held later today, the Chairman of the meeting will give the following update on trading:

Current trading

Recent contract wins demonstrate our continuing success in securing contracts with large customers building the Group's recurring revenue base. With these, the Group now has 28 customers and an ARR of over $7m.

In addition to these, we continue to see strong demand from our existing customers for change requests and have contracted for around $1.7m already this year in respect of this revenue.

Outlook for the year

Our pipeline remains strong at around $23m, including some $5m of non-telco prospects - its highest ever level and which we are confident will produce results in the coming months and years.

For further information contact:

 Pelatro Plc 
 Subash Menon, Managing Director                                  c/o finnCap 
 Nic Hellyer, Chief Financial Officer 
 finnCap Limited (Nominated Adviser and 
  joint broker)                                           +44 (0)20 7220 0500 
 Carl Holmes/Milesh Hindocha (Corporate 
 Dowgate Capital Limited (Joint broker)                   Tel: +44 (0)20 3903 
 Stephen Norcross 

Notes to editors

The Pelatro Group was founded in March 2013 by Subash Menon and Sudeesh Yezhuvath with the objective of offering specialised, enterprise class software solutions for customer engagement principally to telcos who face a series of challenges including market maturity, saturation and customer churn.

Pelatro provides its "mViva" platform for use by customers in B2C and B2B applications and is well positioned in the Customer Engagement space. Our technology orchestrates the digital journey of the customers of telcos [or [financial services institutions] through contextual, relevant and real time offers and loyalty programs across multiple channels including websites, social media, apps and others.

For more information about Pelatro, visit www.pelatro.com

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(END) Dow Jones Newswires

June 23, 2023 02:00 ET (06:00 GMT)

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