£2.9 million raised for international expansionSeptember 28, 2010
FOR IMMEDIATE RELEASE
28 SEPTEMBER 2010
£2.975 million raised to accelerate international expansion
Globo plc (“Globo”, the “Group” or the “Company”; LSE-AIM: GBO), the international IT, mobile solutions and SaaS provider, announces that it has raised approximately £2.97 million before expenses via a placing, with UK and international investors, of 24,791,666 new ordinary shares of 1 pence each, representing approximately 14.2 per cent of the issued share capital of the Company as enlarged by the placing, at a price of 12 pence per share. The placing price represents a discount of approximately 4% per cent. to the closing share price as at 27 September 2010.
The net proceeds from the Placing will be used to fund the continuing growth of Globo’s international mobile applications activities, building on the Company’s success to date in expanding CitronGO! and GO!Social, its open ‘cloud‘ mobile communication software solutions for personal and professional users, providing true ubiquitous computing on a single screen on any mobile phone or laptop – regardless of manufacturer, vendor or network.
During the 6 months ended 30 June 2010, revenues increased by 50.2 per cent to €12.53 million (H1 2009: €8.34 million); profit before tax increased by 56.2 per cent to €1.42 million (H1 2009: €0.91 million); and international revenues rose to €1.1 million (H1 2009: €0.032 million) and representing 8.8 per cent of total revenues. SaaS (mobile and e-Business) revenues rose by 331 per cent to €2.32 million (H1 2009: €0.54 million), representing 18.5 per cent of Globo’s revenues. CitronGO! and Mobile Services successfully delivered initial revenues of €1.03 million
Application will be made for the 24,791,666 new ordinary shares to be admitted to AIM and admission is expected to occur on 8 October 2010. Following the placing, Globo’s issued share capital will consist of 174,997,755 ordinary shares.
Costis Papadimitrakopoulos, Chief Executive Office, commented:
“Globo is demonstrating through financial performance that we have the opportunity to become a significant international player and that we are successfully implementing our growth strategy. We are delighted with the support we have received, from existing and new institutional shareholders.”
Daniel Stewart & Company Plc was broker to the placing.
Costis Papadimitrakopoulos, CEO
Dimitris Gryparis, Finance Director
NCB Stockbrokers Limited (Nomad)
Christopher Caldwell or Barclay Clibborn
Daniel Stewart & Company Plc (Broker)
Simon Bloomfield or Andy Harris
GLOBO plc was admitted to AIM in December 2007. Founded in 1997, Globo has established itself as one of the international market leaders in the Mobile and ICT market, offering a wide range of products and services to the mobile, corporate, public and consumer market. It provides mobile, e-business and telecom software products and related services to the private and governmental and mobile sectors. The Group has an International presence with offices and subsidiaries in 8 countries and continues to expand internationally based on its mobile communications strategy. For further information please go to www.globoplc.com