Concha plc Investment in fast growing European tech company (0694S)
March 15 2016 - 2:01AM
UK Regulatory
TIDMCHA
RNS Number : 0694S
Concha plc
15 March 2016
15 March 2016
Concha PLC
("Concha")
Investment in one of Europe's fastest growing tech companies
Concha, the AIM listed investment company focused on the mobile,
internet, sports, social media, digital and technology space, is
pleased to announce a GBP4.0m cash investment in Ve Interactive
Limited ("Ve" or "the Company") via the acquisition of shares from
existing shareholders at GBP250 per share, which based on the
current issued share capital, represents a holding of 0.43% of the
Company.
Ve is a multi-award winning global technology company offering a
suite of apps across a single platform which drives website traffic
and reduces abandonment at each stage of the customer journey on
the site, including at the landing, browse, basket, check-out and
post-purchase stage. This is done through display advertising,
targeted overlays and email. Ve services over 10,000 clients
worldwide and tracks more than GBP100m worth of transactions a
minute via its comprehensive data-set which provides valuable
insights into customer activity. Each of its apps are driven to
deliver highly-targeted content to customers based on their
purchasing activity and profile.
Ve was announced as the winner of the annual Sunday Times Hiscox
Tech Track 100 in September 2015. To qualify for the award,
companies were ranked according to the compound annual growth rate
in sales, based on latest available figures. Ve recorded a three
year compound annual growth rate of over 300%. In addition, Ve was
listed as one of Europe's 'unicorns' by the Financial Times in June
2015. A 'unicorn' is a privately owned company estimated to be
valued in excess of $1bn. For the year ended 31 December 2014, the
company's last published audited accounts, Ve reported revenues
GBP19.7m and a loss for the year of GBP2.87m.
Commenting on the investment, Chris Akers, the Chairman of
Concha, said: "We have only been able to secure this holding by
virtue of our status as a non institutional investor and as such I
am delighted Concha has acquired an investment in one of Europe's
most exciting privately owned technology companies. Its business
focus, growth profile and potential return fits our investment
criteria exactly."
Enquiries:
Chris Akers, Executive Chairman
Chris.akers@srgplc.com
SPARK Advisory Partner Limited (Nominated Advisor) +44 (0)203 368 3550
Sean Wyndham-Quin
Mark Brady
Buchanan (Financial PR) +44 (0)207 466 5000
Mark Edwards
This information is provided by RNS
The company news service from the London Stock Exchange
END
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