RNS Number : 3464U
Globo plc
28 July 2015
 



28 July 2015

GLOBO plc ("Globo" or "the Company")

 

Statement regarding share price movement

Globo plc (LSE-AIM: GBO / OTCQX: GOBPY), the international provider of Enterprise Mobility Management (EMM), mobile solutions and software as a service (SaaS), notes the significant move in its share price since 22 July 2015. Globo is not aware of any material reason for the decline in its share price.

The Group updated the market on 7 July 2015 regarding the situation in Greece and would like to reiterate that there is no financial or operational impact expected as a result of this turmoil. Since Greece has entered into an agreement with its lenders, we see the Greek market returning to a degree of normality over the coming weeks and months.

Marketing related to the potential issue of longer term debt in the form of senior secured high yield notes continues, with the proceeds expected to be used within two years, mainly for future acquisitions of an anticipated value in excess of US$150 million.  These acquisitions will help transform the Group into one of the pure-play leaders in the Mobile Enterprise market.

Although recent events in Greece and China have caused the high yield markets to stall over the past few weeks, we are confident that this is the right time to accelerate our growth and execution capabilities as we build a leadership position in the Mobile Enterprise space. We expect any future acquisitions to be EBITDA accretive and significantly outweigh any coupon costs in relation to the bonds, for which Globo has recently received a credit rating of BB- from S&P and B2 from Moody's.

The Group released its H1 2015 Trading Update on 7 July 2015 and would like to reiterate the following highlights:

·      Group revenues grew by 56% to €72.4million in H1 2015, driven by the GO!Enterprise business which grew by 126% YoY

·      During H1 2015 Free Cash Flow grew significantly to € 7.2 million, with Free Cash Flow over the past 12 months of €10.3 million

·      The Group's net cash position of €47.4 million has increased by €7.0 million since 31 December 2014

·      Trading continues to be strong with numerous new customers and repeating orders won during H1 2015

·      U.S. growth remains on track, with expanded operations and headcount increases in the region

Globo's industry recognition continues, with the announcement on 27 July 2015 of our inclusion in the Gartner MADP Magic Quadrant, making Globo the only pure-play mobility vendor globally in both Magic Quadrants (EMM and MADP).

 

Costis Papadimitrakopoulos, Globo's CEO commented:

"The past 30 days have been challenging for global markets, with events in Greece and China having unnerved investors. We continue to experience positive trading conditions and are confident in our strategy to create value for our shareholders in a robust and growing mobile services market worldwide."

 

ENDS

 

For further information please contact:

 

Globo plc

 

+44 20-7378-8828

Costis Papadimitrakopoulos, CEO
Dimitris Gryparis, Finance Director
Mike Jeremy, IRO

 

 

 

 

RBC Capital Markets

 

+44 20-7653-4000

(Nominated Adviser & Broker)
Pierre Schreuder or Ema Jakasovic

   


Canaccord Genuity

+44 20-7523-8000

(Joint Broker)
Simon Bridges or Emma Gabriel

 


Brunswick Group

+44 20-7404-5959

Chris Blundell or Charles Pemberton


 

About Globo

 

Globo Plc is a global provider of complete enterprise mobility solutions and SaaS. Our GO!Enterprise (EMM) and GO!AppZone (MADP) offerings help businesses expand their engagement with employees and customers through the mobile channel via a secure and extensible environment that runs on all smart devices. The Group operates internationally through subsidiaries and offices in the U.S., U.K., Europe, Middle East and South East Asia. Globo was included in Gartner's 2015 Magic Quadrant report for MADP providers, the 2014 Gartner Enterprise Mobility Management Magic Quadrant report, in Ovum's 2014-15 Decision Matrix for EMM Solutions and 2015-16 Decision Matrix for MADP Solutions, and in IDC's January 2015 report on Mobile Enterprise Application Development Platforms. For more information visit www.globoplc.com.

 


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