AppBox Media Plc Corporate Update

Update on recent progress and developments

        Print
| Source: AppBox Media Plc

LONDON, United Kingdom, July 17, 2014 (GLOBE NEWSWIRE) -- via PRWEB - The Board of AppBox Media, a UK based developer of mobile applications and video games, provided the market earlier today with an update on a series of key developments that progress the Company closer towards its vision of becoming one of world's leading game software developers.

•Key Points

*Seed A (SEIS) and Seed B (EIS) Offer for Subscription, fully subscribed at £1 per Ordinary A Share of £1.

*Seed C (EIS) Offer for Subscription, scheduled to open on 25th July 2014 at 9AM, with a Subscription Price of £2.10 per Ordinary A Share of £1 ("New Shares"). The Company intends to raise approximately £787,500 from institutional and private investors, on the basis of a current Information Memorandum. These New Shares are to be credited as fully paid and will rank pari passu with the existing Ordinary A Shares.

The Board considers the price for the New Shares to be fair and reasonable insofar as the Company's shareholders are concerned.

*The Company is set to become revenue producing within the month of July 2014, with the launch of its new iOS7 and Android based mobile game, titled 'Frenzy Fox'; a freemium based app with social media connectivity and IAP integration.

Commenting on today's news, P Hassan, CEO, said: "We continue to grow the business and look forward to building a consistent delivery of innovative, high quality mobile applications and games in 2014."

This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://uk.prweb.com/releases/2014/07/prweb12026096.htm

AppBox Media Plc
Enquiries Dept

+44 2036576112