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Due to the sharp rise in share prices and trade activity of recent days, I would like to take this opportunity to comment on the following:
To me it is very gratifying that so many have found interest in the Mavshack Group. We have been working hard during the past year to reduce our costs and find new ways to achieve profitability. Already this fall, we found our niche in terms of integration with mobile operators in the Middle East. During the spring, we received a slight downturn due to changes in market regulations that govern operator integrations. This had a direct impact on our retail sales. However, since July we are back in all channels and it is gratifying that we have received 30,899 new customers in the last two months.
Mavshack continuously works to cut costs, something that I continued with since I took office in April. We are now on track against cash flow-positive activities at Group level. It's my personal target to achieve this, on a monthly basis, in December.
September 6, 2017
For more information please contact
CEO Tommy Carlstedt, Phone +46 8 12451790
This information is information that Mavshack AB (publ) is obliged to make public pursuant to the EU Market Ab use Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CET on September 6, 2017.
AB Mavshack operates a global Internet TV services with Asian entertainment. The service, which is available through Internet connected devices, is genuinely global with users in over 80 countries. With the largest library of Filipino and Indian titles, as well as agreements with Asia's leading content providers, Mavshack is the obvious choice for Asian entertainment around the world. The company operates its business on a proprietary technology platform.
Mavshack AB (publ) is a publicly traded company listed on Nasdaq First North under the ticker MAV. Certified adviser is Erik Penser Bank. More information about the company is available at www.mavshack.se
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Mavshack AB (publ) is listed on NASDAQ OMX First North and traded as MAV. Certified Adviser is Erik Penser AB.
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