One Media iP Group plc ("One Media", "the Company" or "the Group") AGM Statement At the Annual General Meeting (AGM) of One Media, due to be held later today at the Group's Pinewood Studio offices, Chairman and CEO, Michael Infante, will provide the following statement to shareholders: "It has been a highly encouraging period since we reported a strong performance in our Preliminary Results for year ending October 2013 announced in February 2014, where we stated that profit from continuing operations was up 22.4% and turnover was up 26.8%. I am pleased to report today that trading continues to be in line with the markets' expectation and One Media remains a profitable, debt free and cash resourced media business with a continuing and sustainable dividend policy in place. "We continue to acquire more music and video content to enhance our offering to the digital worldwide stores which One Media supplies and we are satisfied with our trading since the year end. Our world of digital content continues to evolve with many of One Media's general market views becoming reality with the continued shift from the physical world of the compact disc and DVD to an online intangible product. The Board sees the emergence of in-car digital entertainment via 3/4G or GPRS gaining traction as the major motor companies embrace our medium. We additionally embrace the growing number of homes that are now streaming TV, Music & Film content via their WiFi to their Smart TVs. Recently, it has also been widely reported in the national press that we as an industry are experiencing a shift from the existing iTunes model of 'Downloading' to the Spotify model of 'Streaming' with both positive and negative implications to the music and video industry accordingly. One Media greets all methods of digital exploitation as positive, and continues to monitor the benefits or changes that it has to your Group. It must be said that the benefits of the 'Streaming' model is a practical `counter' to piracy which still accounts for losses of income in all aspects of the digital industry whether it be music, video or gaming. "I look forward on updating shareholders on further progress in due course and welcome any questions at today's AGM." Further information pertaining to the Group's results and AGM can be found at www.onemediaip.com For further information, please contact: One Media Publishing Group Plc Chairman and Chief Executive Michael Infante Tel: +44 (0)175 378 5500 Cairn Financial Advisers LLP Nominated Adviser Liam Murray / Jo Turner Tel: +44 (0)20 7148 7900 Charles Stanley Securities Limited Brokers Mark Taylor Tel: +44 (0)20 7149 6000 Yellow Jersey PR Limited Kelsey Traynor/Dominic Barretto/Philip Tel: +44 (0)7799 003 220 Ranger Notes to Editors: The Group is a B2B and B2C digital content provider, exploiting intellectual property rights around music and video. The Group specialises in acquiring and repackaging nostalgic music and Film and TV programmes from recordings made over the last 90 years. The Group operates from its offices at Pinewood Studios and delivers its digital music and video content via aggregators to over 600 online digital stores such as iTunes, Spotify, Amazon, Deezer and YouTube. Consumers download or stream the content via PCs, smart phones, internet enabled music players and Smart TVs. Additionally, One Media makes its library of content available for synchronisation purposes for TV shows, movies, adverts, games and websites. One Media focuses on music performed by well-known artists or songs from every genre, including; pop, rock, reggae, R&B, children's music, karaoke, jazz, soul, blues, rap, hip-hop, gospel, world-music, plus stand-up comedy, spoken-word and over 1,000 hours of classical music. The Groups visual content includes the 3000 Men & Motors programs, Skippy the Bush Kangaroo, the early Sooty Shows and over 3000 nostalgic pop music videos, all exploited via YouTube. The Group does not invest in new bands or untested music. One Media is eligible for Enterprise Investment Schemes ("EIS") and Venture Capital Trusts ("VCT"). The Group is profitable and has being paying a dividend since July 2011. Financial Highlights year end October 2013 Revenue up 26.8% to £2,649,130 (2012: £2,089,841) Profit before tax from continuing operations, excluding AIM flotation and associated costs, up 22.4% to £523,648 (2012: £427,674); Cash balances of £1,688,093 at 31st October 2013 (2012: £368,655); Dividends paid in year ending 31st October 2013, totalling £70,135 (2012 £70,974), the first on the 29th November 2012 at 0.037p per share and a further Dividend on the 9th July 2013 of 0.078p per share; and Successful listing and Placing on AIM in April 2013 raising £750,000 at 8p per share. END -0- Mar/27/2014 07:00 GMT
ONE MEDIA IP GROUP PLC: AGM Statement
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