Bidstack Group PLC AGM Statement (1445O)
28 Mayo 2020 - 1:00AM
UK Regulatory
TIDMBIDS
RNS Number : 1445O
Bidstack Group PLC
28 May 2020
Certain information contained within this Announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon
publication of this Announcement, this information is now
considered to be in the public domain.
28 May 2020
Bidstack Group Plc
("Bidstack" or "the Company")
AGM Statement
Bidstack Group Plc (AIM: BIDS.L), the native in-game advertising
group, provides the following update ahead of its 2020 Annual
General Meeting ("AGM") which is being held at 11.00 am today. As
stated in the Company's Notice of AGM, shareholders were asked to
complete and return a form of proxy as, due to the COVID-19
pandemic, they will be precluded from travelling to and attending
the AGM in person.
At the meeting, James Draper, CEO of Bidstack, will make the
following statement:
"The Board is pleased with the progress of the Company towards
its goal of becoming a leading platform to deliver in-game
advertising.
The disruption to the advertising industry arising from the
global cancellation of live sports as a result of COVID-19 has
resulted in media buyers following audience demand and seeking to
get in front of the increasing numbers of consumers turning to
video gaming as an alternative. Bidstack has successfully secured
increasing demand side interest from multiple ad agencies.
The Company has received its first advertising bookings from the
US as well as its first bookings from its network of approved local
agencies in Europe, Africa and South America.
Bidstack is now working with most of the major international
advertising groups. Although initial spends have been small, the
Company has run campaigns for many international brands including
Activision Blizzard, Audi, BBC, Football Index, JBL, MG Motors,
Penguin Random House, Shell, Subway, Unilever, Vodafone, VW and
Warner Music.
As well as having run its first campaign in a new game from a
global leader in digital interactive entertainment, the Company is
also actively selling advertising into a title from a leading
creator, publisher and distributor of interactive entertainment and
services.
Bidstack is working with a number of the world's largest video
games developers and publishers including a globally recognised
casual games brand, a content developer for mobile and console
games and the developers of a well-established battle royale genre
game. Discussions are ongoing with many more leading games
developers and publishers.
As announced on 11 May 2020, Bidstack is making progress to be
ready for the next generation of consoles expected to be launched
this year. In addition it is working hard on the streaming
platforms which the Directors believe are likely to be major
players in the future of high fidelity gaming and to capture the
extensive secondary viewing market.
On the technical side the Company has created and improved its
AdConsole so that games publishers (as well as advertisers) can now
access real time data on the performance of their games.
The Board believes that the Company's software development kit
("SDK") currently supports the majority of platforms in the market.
Bidstack's SDK is lightweight and the impressions and viewability
functionality are automated. The Company continues to innovate and
develop new technologies for its intellectual property
portfolio.
The Company remains confident that it is making material
progress in its approach to building a strong foundation on which
to grow and create value for shareholders. The Board continues to
expect revenues for 2020 to be very significantly second half
weighted and in line with market expectations for the year.
In the meantime the Board remains focussed on careful management
of the Company's existing cash resources and expected trading and
non-trading cash receipts as it continues to grow the
business."
-ENDS-
Contacts
Bidstack Group PLC
James Draper, CEO via Buchanan
SPARK Advisory Partners Limited (Nomad)
Mark Brady / Neil Baldwin / James Keeshan +44 (0) 203 368 3550
Stifel Nicholas Europe Limited (Broker)
Fred Walsh +44 (0) 20 7710 7600
Buchanan Communications Limited
Chris Lane / Stephanie Watson / Kim van
Beeck
bidstack@buchanan.uk.com +44 (0) 20 7466 5000
Notes to editors
Bidstack
Bidstack is an advertising technology company which provides
dynamic, targeted and automated native in-game advertising for the
global video games industry across multiple platforms. Its
proprietary technology is capable of inserting adverts into natural
advertising space within video games. Bidstack's customers are
games publishers and developers (on the supply side), and
advertising agencies, brands and programmatic advertising platforms
(on the demand side).
Bidstack contracts exclusive access to the native in-game
advertising spaces within video games from their developers or
publishers and sells that advertising space either directly to
specific brands and their agencies or through programmatic
advertising platforms.
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END
AGMUBSARRAUVUUR
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May 28, 2020 02:00 ET (06:00 GMT)
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