LONDON, October 29, 2015 /PRNewswire/ --
Company enables £1million of tax rebates for investors and generates £2,500,000 in earnings and contracts won since launch
- 5th round of fund raising launched on 14 September 2015 targeting £975,000 is now filled.
- University undergraduate competition launched with London university gaming societies to find next generation of technology talent
- Up to 10 new apps to be launched by year end
AppBox Media PLC ("AppBox Media") a UK based developer of mobile applications and video games, has confirmed that, since launch in July 2013 as a qualified Enterprise Investment Scheme (EIS), by the end of 2015 investors will have received rebates of almost £1million. To date, £720,000 of EIS claims have been made, with a further 200,000 to be submitted before Christmas.
The company launched its 5th round of fundraising on 14 September 2015 priced at £8.12 per Ordinary A Share of £1.00 each. The intention was to raise approximately £975,000 from institutional and private investors on the basis of a current Information Memorandum. As of today the company has raised 100 per cent of the intended amount. The company will issue an RNS announcement at 7am on the 25th November.
To date, AppBox Media has raised over £3 million from the High Net Worth and Ultra High Net Worth communities on the basis of a current information memorandum. The company has launched eight gaming apps to date and is on track to launch another ten apps before the year end, including a cooking competition app set for launch at the start of November via the App Store.
Led by CEO, Polat Hassan, the company has generated £2.5 million in earnings and contracts won since launch. Most notable was the announcement in September that the company had secured a contract worth up to £2 million over the next three years. The payment under this contract during the first year is £850,000. This was also supported by a smaller contract for £375,000.
In October this year AppBox Media started an initiative to attract the brightest minds to the industry with the launch of a university undergraduate App development competition called the App-rentice. The competition aims to provide students the opportunity to design, build, and market their app ideas, allowing them to develop not only their ideas but also their business skills. All participating teams will have the chance to work with and receive expert advice and guidance from one of AppBox Media's experienced project managers.
The founders, developers and project managers of AppBox Media have a proven track-record, on the design and build side, at a number of worldwide organisations including Universal Pictures, Motorola, Toshiba, SEGA, Google, IBM and Fujitsu.
The competition is currently partnering with three London Universities - Westminster, Queen Mary's and Kings College but is open via university gaming societies to any university. The intention is to roll this out in 2016 across the UK and internationally.
Polat Hassan says, "Digital technology is now the fastest growing sector in Britain and, according to figures, one that will soon be worth £221bn. Even now the UK is considered the biggest tech hub in Europe and the second most important after the US. It is our intention to be a major part of that success. To do that we intend to attract the brightest and most creative minds to work with, our shareholders are delighted with the progress.
"The fact we have been generating revenue since and have a healthy pipeline of over 15 apps in development gives me confidence we are on the right track."
Looking further ahead to the future of technological development across the world AppBox Media is undertaking significant research into emotional intelligence and machine learning, this could ultimately change the way we interact with the apps of tomorrow.
Notes to Editors:
About AppBox Media
AppBox Media Plc is a mobile application software development company. Its products are available across Apple iOS and Google Android, and are available for instant download across smartphone and tablet devices.
AppBox Media has been revenue producing since July 2013 and is ahead of the forecasted rate of growth in respect of scheduled release titles and contracts won. It is expected that AppBox Media will pass 1 million cumulative downloads for its apps by December 2015.
The founders, developers and project managers have a proven track-record at a number of worldwide organisations; including designing and building applications for organisations including Universal Pictures, Motorola, Toshiba, SEGA, and Fujitsu.
With AppBox Media's footprint established through the launch of 6 games, the team are now working to diversify the portfolio in a mixture of areas such as marketing and advertising, social networking, medical and financial.
The company's current valuation stands at £6.45 million.
AppBox Media is a qualified Enterprise Investment Scheme and to date has raised over £3 million.
For further details about AppBox Media visit http://www.appboxmedia.com
Contact:
Cornerstone Comms:
Richard Acworth
E: [email protected] T: +44(0)7917-080-365
Ben Larter
E: [email protected] T: +44(0)7825-880830
SOURCE AppBox Media PLC
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