MySQUAR Limited Registered user update (6639M)
17 October 2016 - 5:00PM
UK Regulatory
TIDMMYSQ
RNS Number : 6639M
MySQUAR Limited
17 October 2016
MySQUAR Limited ("MySQUAR" or the "Company")
MySQUAR registered users exceed 6m and MyCHAT 2.0 ready for
release
MySQUAR, the Myanmar-language social media, entertainment and
payments platform whose principal activity is to design, develop
and commercialise Myanmar-focused internet-based mobile
applications, is delighted to announce that as of 14 October 2016,
the Company's registered users across all apps and games have
exceeded 6 million. In addition, a new, more sophisticated version
of MyCHAT is expected to be released in the fourth quarter of the
calendar year 2016.
Registered users
This represents a substantial increase compared to the Company's
previous expectations (announced on 22 August 2016) of 5m
registered users by the end of 2016. It also represents an increase
of more than 660 per cent compared to the number of registered
users at the time of listing on AIM on July 1 2015.
MyCHAT 2.0
After more than 18 months of technical redevelopment involving
thousands of man-hours, a new version of the Company's chatroom
app, MyCHAT 2.0, will be released before the end of this calendar
year. The new version will contain more features to appeal to users
and more analytics to appeal to advertisers.
Games
Following the very encouraging success of game launches so far,
the Company is adopting a more aggressive plan and aiming to
release at least two new games in Q4 2016. One of these will be
based on Naruto, one of the most successful Japanese manga comic
characters of all time. Naruto, an adolescent ninja, is already a
highly popular character in Myanmar via TV, films and books and the
Company will leverage that popularity to support the new game.
Further updates on the timing and progress of games are expected in
the near future.
MySQUAR's CEO Eric Schaer said:
"User acquisition continues to grow at a remarkable rate, as
does the appetite in Myanmar for MySQUAR's products and services,
and shows no signs of slowing down."
"The new version of MyCHAT is a highly detailed reconstruction
of the app which will enable more detailed analytics regarding
users, making delivery of advertising more precise and therefore
more valuable to both the Company and its advertisers. We also
expect to be able to exploit the anticipated surge in advertising
interest in Myanmar's 50m+ population from American multinational
companies following the recent comprehensive withdrawal of U.S.
sanctions."
"We believe that a more aggressive programme of game launches,
using themes with proven popularity in Myanmar such as Naruto, will
lead to increases in user numbers and therefore even greater
popularity, with a corresponding effect on revenues. We are finding
that with each success, the environment for launching new games and
apps is considerably enhanced."
For further information:
MySQUAR Limited
Eric Schaer (Chief Executive) Tel: +65 6818
6089
Pham Dang Hung (CFO)
SP Angel Corporate Finance
LLP
Nominated Adviser Tel: +44 (0) 203
470 0470
Stuart Gledhill/Laura
Harrison
Beaufort Securities Limited
Joint Broker Tel: +44 (0) 207
Jon Belliss/Elliot Hance 382 8300
Mirabaud Securities LLP
Joint Broker
Edward Haig-Thomas/Peter Tel: +44 (0)20
Krens 7878 3447
Public Relations Tel: +44 (0) 7816
Damien McCrystal 770 758
damien@mccrystal.info
This information is provided by RNS
The company news service from the London Stock Exchange
END
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