For
immediate release
24 October
2024
ADVFN
plc
("ADVFN" or the
"Company")
Mobile App /
Live Chat rollout
and trading update
The Board of ADVFN is pleased to
provide an update on the current development of the ADVFN investor
platform ("Platform"). As reported earlier this year, the Company
has been making a number of enhancements to the Platform, in line
with ADVFN's strategic aim to position the Company as a
cutting-edge technology company within the financial space and
expected that the
Company's new mobile app would be scheduled for release by the end
of Q3 this year.
The phased rollout of the new mobile
application has now commenced. The
applications have not yet reached 100% of the platform user base as
the launch is being phased to gather valuable feedback at each
stage of rollout. This phased approach allows ADVFN to refine and
enhance the user experience before full deployment.
As part of a new initiative, ADVFN
has also introduced a soft launch of its Live Chat platform,
providing real-time communication features to the ADVFN community.
Both the new apps and Live Chat are now in the feedback and rollout
phase, and ADVFN will continue to make adjustments based on user
input.
Further updates will be provided as
the rollout progresses, with a full-scale launch planned in the
near future.
The Board expects to publish the
audited results for the year ended June 2024 towards the end of
November. Trading in the second half to June 2024 remained in line
with trading in the first half. In the current year, there has been
no uplift in trading and the results for the quarter ended
September 2024 are broadly in line with the comparable period
in 2023. General market conditions remain depressed by among other
factors, uncertainty around the imminent US election, and in the
UK, the uncertainty ahead of the new Government's budget. The
Company's focus has been on exploring potential revenue and
earnings enhancing opportunities as well as implementing cost
reductions where appropriate.
A copy of this announcement is
available from the Company's website at www.advfnplc.com
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018. The person who arranged for
the release of this announcement on behalf of the Company was Amit
Tauman, Director.
For
further information please contact:
|
ADVFN plc
Amit Tauman (CEO)
|
+44 (0) 203 8794 460
|
|
Beaumont Cornish Limited (Nominated Adviser)
Michael Cornish
Roland Cornish
|
+44 (0) 207 628 3396
|
|
Peterhouse Capital Limited (Broker)
Eran Zucker
Lucy Williams
Rose Greensmith
|
+44 (0) 207 469 0930
|
Beaumont Cornish Limited, which is
authorised and regulated in the United Kingdom by the Financial
Conduct Authority, is acting as nominated adviser to the Company in
relation to the matters referred herein. Beaumont Cornish Limited
is acting exclusively for the Company and for no one else in
relation to the matters described in this announcement and is not
advising any other person and accordingly will not be responsible
to anyone other than the Company for providing the protections
afforded to clients of Beaumont Cornish Limited, or for providing
advice in relation to the contents of this announcement or any
matter referred to in it.