TIDMPROX

RNS Number : 6794Y

Proxama PLC

07 March 2017

Proxama Plc

("Proxama" or the "Company")

Director declaration

Proxama PLC (AIM: PROX), a leading mobile proximity marketing expert, has been informed by David Bailey, a Non-Executive Director of the Company, of the following disclosures pursuant to Rule 17 of the AIM Rules for Companies:

-- WPMC Limited ("WPMC"), a company of which Mr Bailey was a director between 23 August 2013 and 1 February 2016, and majority shareholder from 4 January 2013, was placed into creditors' voluntary liquidation on 5 August 2015 ("Liquidation").

-- The Liquidation came about following a claim made against WPMC by Sony/ATV Music Publishing LLC and ors ("SATV"), resulting in WPMC being ordered to pay SATV's costs of the Case, which it could not do.

-- The Liquidation remains ongoing and at the time of the latest Liquidators' statement of receipts and payments, dated 4 August 2016, unsecured creditors (being SATV, Mr Bailey and the other former shareholder of WPMC) have submitted claims totalling GBP1,891,427.

Enquiries:

For further Information:

 
 Proxama PLC 
  John Kennedy, Chief Executive     020 3668 2888 
---------------------------------  --------------- 
 Peel Hunt LLP 
  (Nominated Adviser and Broker) 
  Richard Kauffer 
  Euan Brown                        020 7418 8900 
---------------------------------  --------------- 
 Redleaf Communications 
  Charlie Geller 
  Sam Modlin                         020 7382 4730 
---------------------------------  ---------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

March 07, 2017 02:02 ET (07:02 GMT)

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