9th Jun 2015 10:53
9 June 2015
DDD Group PLC
Trading update and Result of AGM
DDD Group plc (AIM: DDD, OTCQX: DDDGY, the 'Group' or 'DDD'), the advanced imaging and 3D solutions company, reported at its Annual General Meeting today that trading in the first quarter was in line with the board's expectations.
Following the successful launch of the Group's new TriDef® SmartCam solution, the first agreements have recently been signed by the Group's GenMe licensing subsidiary with SplitmediaLabs for distribution to end users of the popular XSplit Gamecaster and XSplit Broadcaster applications.
Response to the TriDef SmartCam capabilities from other prospective distribution partners in the video conferencing market has been encouraging with indications that the end user background replacement feature is an area that prospective licensees are now investigating.
The Group also continues to make good progress on the patent licensing program with Dominion Harbor who have commenced licensing discussions with prospective licensees in the 2D to 3D film conversion market. In addition, the Group has completed a due diligence project with Dominion Harbor to secure a suitable law firm to address any licensing matters where litigation may be required.
The 3D licensing business continues to perform well with over 4 million additional licensed products reported in the first quarter, taking the total of TriDef 3D enabled products to over 55 million cumulatively.
At the Annual General Meeting of the Group, all the Resolutions contained in the Notice of AGM were duly passed.
Results for the first half of 2015 are expected to be published in late September.
Chris Yewdall, DDD's Chief Executive Officer said:
"We have worked diligently to develop the new TriDef SmartCam solution for Windows and we have been pleased with the initial response from our prospective licensees and distribution partners. We are now focused on delivering more distribution agreements over the coming months as well as to broadening our reach with an Android version of TriDef SmartCam that can be used with smartphone and tablet apps."
Enquiries
DDD Group Chris Yewdall, President & CEO Victoria Stull, CFO
| +1 310 566 3340 |
Peel Hunt LLP (UK Nomad/Broker) Richard Kauffer / Euan Brown
| +44 (0)207 418 8900 |
Beaufort Securities (Joint broker) Jon Levinson / Elliot Hance
| +44 (0)207 382 8300 |
Blytheweigh (UK IR) Tim Blythe / Andrea Benton
| +44 (0)207 138 3204 |
Berns & Berns (US PAL) Michael Berns, esq. | +1 212 332 3320 |
About DDD
DDD transforms the visual experience. Its advanced imaging and TriDef® solutions are licensed by leading brands including Samsung, LG and Lenovo for use in TVs, tablets and PCs. Over 55 million 3D products have been shipped by DDD's licensees worldwide. DDD's Yabazam® streaming service delivers 3D to smart TVs and tablets everywhere. DDD's shares are quoted on the London Stock Exchange's AIM Market (AIM: DDD) and the OTCQX (DDDGY). For more information please visit www.DDD.com.
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