MySQUAR Limited Correction : Trading Update (7837T)
17 October 2017 - 5:02PM
UK Regulatory
TIDMMYSQ
RNS Number : 7837T
MySQUAR Limited
17 October 2017
17 October 2017
The following statement has been amended in the "Trading Update"
announcement released on 11 October 2017 at 08:19 a.m. under RNS No
2911T.
"- and increase of approximately 450% per cent of the average
monthly revenue of $29,744 during July-September 2016 -"
Has been amended to
" - being approximately 350% per cent of the average monthly
revenue of $29,744 during July-September 2016 - "
All other information remains unchanged. The full amended text
appears below.
MySQUAR Limited ("MySQUAR" or the "Company")
Trading Update
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 pleased to announce an update on recent
trading.
The Company has continued to make significant progress in
achieving its operational goals which includes the launch of new
gaming titles and the previously announced integration with Ooredoo
Myanmar's carrier billing services. Unaudited revenue during period
July-September of the current financial year has averaged
approximately $135,000 per month - being approximately 350% per
cent of the average monthly revenue of $29,744 during
July-September 2016 - with the majority of this revenue due from
the Company's mobile gaming operations.
The Company has not been providing third party app development
services during the financial year to date with the development
team focusing on the Company's core offerings including the Ooredoo
payments integration and other technical work such as expansion
packs for existing games and development of new games and apps. The
Company does, however, expect to carry out further third party app
development work later in the year and will provide further
announcements as appropriate.
MySQUAR expects to provide more detail in its annual report for
the year to 30 June 2017 which is expected to be published during
November 2017.
Eric Schaer, CEO of MySQUAR, said: "We are extremely pleased
with last financial year's performance and the progress to date
this financial year. Mobile gaming and app revenues in the
comparable period have enjoyed a remarkable increase and we have
good reason to believe that interest in our out-sourcing
development services will be as high in the current financial year
as in the last."
Additionally, the Company is pleased to announce that, due to
the continued increased interest in products both within Myanmar
and elsewhere in South East Asia, it intends to appoint a Marketing
Director. The early stages of the selection process have begun and
an update will be provided when the process is completed.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information:
MySQUAR Limited
Eric Schaer (Chief Tel: +65 6725 6388
Executive)
Pham Dang Hung (CFO)
SP Angel Corporate Tel: +44 (0) 203
Finance LLP 470 0470
Nominated Adviser
Stuart Gledhill/Soltan
Tagiev Tel: +44 (0) 207
Beaufort Securities 382 8300
Limited
Broker
Jon Belliss/Elliot Tel: +44 (0) 781
Hance 677 0758
Public Relations damien@mccrystal.info
Damien McCrystal
This information is provided by RNS
The company news service from the London Stock Exchange
END
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