TIDMBST

RNS Number : 1904G

Big Sofa Technologies Group PLC

16 March 2020

The information communicated in this announcement includes inside information for the purposes of Article 7 Regulation 596/2014.

16 March 2020

Big Sofa Technologies Group plc

("Big Sofa Technologies" or the "Company")

Statement re suspension of trading

Big Sofa Technologies announces that its directors have taken the difficult decision to request a suspension in the trading of its shares on AIM.

The Company, which currently has sufficient working capital until May 2020, had been in the process of finalising a planned equity raise to fund the next stage of its growth. That fundraising was expected to close last week but, due to current market turbulence, it could not be concluded. The Directors are therefore exploring strategic options which may include a sale of the business; the Company will provide a more detailed update in the next few days.

Enquiries:

 
 Big Sofa Technologies Group plc          +44 (0)20 7357 0033 
 Kirsty Fuller, CEO 
 Joe MacCarthy, CFO 
 
 Arden Partners plc (Nominated Adviser 
  and Joint Broker)                       +44 (0)20 7614 5900 
 Paul Shackleton / Ben Cryer

About Big Sofa Technologies Group plc

Big Sofa Technologies is a video analytics company. The design and development of our technology has been guided by expert understanding of the insight and analytics industries and the needs, pressures and business questions of the clients they serve.

We uncover and analyse new-to-the-industry behavioural data sets in video, enabled by the power of our pioneering data capture and platform technology. We are innovating both in how video-led projects and programmes are designed and in how the data is analysed, showcased, embedded and re-mined.

Our software platform collates, analyses and organises large volumes of raw/unstructured video enabling our clients, which include leading market research and data companies and major household brands, to perform detailed and sophisticated consumer insight analysis and make genuine use of video content.

Big Sofa Technologies' shares are admitted to trading on the London Stock Exchange's AIM market under the ticker BST.L.

To find out more, visit www.bigsofatech.com

Follow us on twitter at @bigsofatech

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March 16, 2020 03:00 ET (07:00 GMT)

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