22nd Sep 2016 08:25
LONDON (Alliance News) - Veltyco Group PLC on Thursday said its Options888 Marketing Ltd unit has signed a marketing and revenue-sharing deal with Novox Capital Ltd covering the ZoomtraderGlobal option trading platform.
Veltyco was formerly investment company Velox3 and changed its name after taking over Sheltyco Enterprises Group in June. It owns companies operating in the online gaming, lottery and binary options markets.
Under the agreement, Options888 will have exclusive marketing rights and a participation in revenue generated by all new customers to ZoomtraderGlobal, an option trading platform.
In addition, Novox has assigned Veltyco an option agreement with Elsona Assets Ltd to acquire ZoomtraderGlobal, which Veltyco does not currently intend to exercise.
In consideration for the option and for the marketing agreement, Veltyco will issue 10.7 million shares to DTIG Holding Ltd, a subsidiary of Elsona. Veltyco also will pay Elsona up to EUR50,000 a month from the revenue generated by ZoomtraderGlobal for up to 12 months, with the total consideration capped at USD600,000.
"We are very pleased to have secured this agreement with ZoomtraderGlobal who are bringing new and exciting trading options to its customers though a strong and experienced team," said Veltyco Chairman David Mathewson.
"This agreement brings a great opportunity for Veltyco to significantly increase its revenues through customer referrals to ZoomtraderGlobal from our focussed marketing campaign. We look forward to growing this relationship," he added.
Veltyco shares were untraded on Thursday, having last traded at 22.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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