25th Sep 2015 15:13
Market Tech Holdings Limited
("Market Tech" or the "Company")
Commercial agreements with related parties
Market Tech Holdings Limited (MKT: AIM), the holding company that combines 14 acres of London real estate assets, including the iconic main Camden Markets, with a technology and e-commerce business, announces that one of its group companies, Glispa GmbH ("Glispa"), has negotiated media insertion orders in relation to online media orders ("Media Insertion Orders") with each of the following companies:
· Viaden Enterprises Limited, expected monthly revenue of $5,000;
· Plamee Ltd, expected monthly revenue of $10,000;
· Skywind Holdings Limited, expected monthly revenue of $20,000;
· PT Marketing Services Limited, expected monthly revenue of $5,000; and
· Easydock Investments Ltd, expected monthly revenue of $5,000,
together, the "Advertisers".
Pursuant to the terms of the Media Insertion Orders, Glispa will provide user acquisition services to the Advertisers in relation to specified advertising campaigns and on terms which are in line with equivalent arrangements with unconnected third parties.
The entry into each of the Media Insertion Orders constitute related party transactions pursuant to Rule 13 of the AIM Rules for Companies ("AIM Rules") as the Advertisers are related parties of the Company by virtue of each being an "associate" for the purposes of the AIM Rules of Citwax Investments Limited, a substantial shareholder (as defined in the AIM Rules) of the Company.
The Directors, having consulted with the Company's Nominated Adviser, Shore Capital, consider that the terms of the Media Insertion Orders are fair and reasonable insofar as the Company's shareholders are concerned.
Enquiries:
Market Tech +44 (0) 20 3772 2500
Charles Butler, Chief Executive Officer
Andrew Bull, Chief Financial Officer
c/o Bell Pottinger
Shore Capital - Nomad and Joint Broker +44 (0) 20 7408 4090
Dru Danford
Toby Gibbs
Canaccord Genuity Limited - Joint Broker +44 (0) 20 7523 8000
Bruce Garrow
Chris Connors
Mark Whitmore
Bell Pottinger +44 (0) 20 3772 2500
David Rydell
Olly Scott
David Bass
James Newman
Anna Legge
About Market Tech
Market Tech combines the iconic Camden Market real estate assets with an e-commerce business operated through online platforms camdenmarket.com and market.com. Its real estate assets business is focussed on retail, leisure and entertainment. The Company owns approximately 14 acres of real estate in Camden, including the Stables Market; Union Street Market, (also known as Buck Street Market); Camden Lock Market; and Hawley Wharf, (also known as Camden Lock Village). It also owns separate real estate asserts on Camden High Street; Kentish Town Road; properties on Jamestown Road, (including the Camden Wharf Building); The Interchange Building on Oval Road and Utopia Village in Primrose Hill.
The Company has also acquired two e-commerce businesses, enhancing its online platform. These strategic acquisitions have included Stucco Media, an e-commerce marketing platform; and Glispa, a Berlin-based mobile marketing business.
Related Shares:
MKT.L