First Day of Dealings

MoPowered Group plc

('MoPowered' or 'the Company')

First Day of Dealings

Following Oversubscribed Placing

MoPowered, a leading mobile commerce enabler that has developed and offers a 'Software-as-a-Service' ('SaaS') platform for online retailers and e-commerce businesses to enable fully transactional mobile commerce, is pleased to announce that Admission and trading of its Ordinary Shares commences today on the AIM market of the London Stock Exchange ('AIM').

The Company has successfully placed 4,000,000 ordinary shares in the Company with institutional and other investors at a placing price of 100p per ordinary share (the 'Placing'). The Placing, which was oversubscribed, raised £4.0m in total, including the sale of 360,000 ordinary shares arising pursuant to the conversion of a convertible loan note in the Company (at the placing price). The gross cash proceeds of the Placing for the Company are £3.64 million. MoPowered's market capitalisation on admission, based on the placing price, is approximately £15.8 million.

N+1 Singer is acting as nominated adviser and broker to MoPowered.

MoPowered's TIDM Code is "MPOW" and its ISIN number is GB00BGDW0L56. 

HIGHLIGHTS

· MoPowered's offering enables its clients to benefit from the attractive growth opportunities arising from the increasing levels of mobile device-initiated internet traffic hitting their websites.

· MoPowered's technology sits alongside a client's e-commerce offering and provides a browsing, check-out and payment experience for consumers which is tailored primarily for smartphone users (the 'MoPowered Platform'). The MoPowered Platform uses automation to develop mobile sites for its clients. This approach delivers significant time and cost savings for its prospective clients as compared to the alternatives.

· The share of e-commerce traffic that goes through the mobile channel is growing rapidly and so the business case for optimising this web-traffic is becoming increasingly compelling. According to a report published in June 2013 by eMarketer, the digital marketing research group, the percentage of UK retail e-commerce that is conducted through mobile devices and tablets will rise to 15 per cent. in 2013 from four per cent. in 2011 and is forecast to rise to approximately 27 per cent in 2017.

· MoPowered is already operating at scale, having processed in excess of one million mobile transactions in the last year and now has over 120 contracted clients. Key referral agreements are in place with PayPal, Worldpay, Sage Pay and DataCash, who between them provide payment services to over 80 per cent. of UK online merchants.

· Amongst its contracted clients, MoPowered has a number of high profile businesses, such as the BBC Shop, which demonstrates its ability to attract established, mainstream retailers.

· MoPowered's offering sits at the intersection of three major market forces: the growth of e-commerce over traditional high-street retail; the adoption of SaaS as a technology delivery method; and the fast adoption of smartphones for e-commerce.

· The Directors believe that MoPowered has first mover advantage in the UK market for mid-tier and specialist merchants and that there is a window of opportunity to capitalise on this during the forthcoming years by focusing on its strategy of rapidly increasing its client base and securing a market leading position.

· The net proceeds from the Placing will be used to invest in sales staff, accelerate the growth in marketing initiatives, invest further in the MoPowered Platform to improve automation, conversion and compatibility with mobile marketing technologies and to satisfy outstanding liabilities.

Dominic Keen, Chief Executive of MoPowered, commented,

"We are delighted to be starting life as a public company today, and in particular, with the strong show of support from institutional investors which is testament to our future prospects.

The successful completion of this transaction allows us to build on our achievements to date, having seen rapid traction over the last few months. We intend to use the funds raised to increase our market presence, with particular focus on sales and marketing initiatives and building our customer base, in order to benefit from the strong and accelerating growth in m-commerce."

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