Arria NLG PLC AGM Statement (2667D)
January 27 2015 - 9:05AM
UK Regulatory
TIDMNLG
RNS Number : 2667D
Arria NLG PLC
27 January 2015
27 January 2015
Arria NLG plc
("Arria" or the "Company")
AGM statement
At the AGM of Arria NLG plc (AIM: NLG), to be held today at
2.00pm, Stuart Rogers, Chairman and Chief Executive of the Company,
will provide shareholders with the following update:
I am pleased to provide a brief recap of the commercial progress
the Company has made during the ten months since our last annual
general meeting.
-- In May 2014, we expanded our contractual relationship with
Shell, culminating in a three year, US$5-10 million global
agreement covering asset integrity monitoring on Shell's deepwater
oil & gas platforms.
-- In August 2014, we announced a proof of concept agreement
with a major global banking client, extending our Arria NLG Engine
into the Financial Services industry for the first time.
-- In October 2014, we announced two new clients: FarmLink, with
a professional services agreement for the Company to develop Arria
NLG narrative reporting focused on the US agriculture industry, and
a proof of concept agreement with a major Aviation systems
provider, with the initial use case focusing on further optimising
the maintenance or refurbishment of jet engines.
-- In December 2014, we announced a proof of concept agreement
with a global services provider to the Oil & Gas industry, one
of our core industry segments.
-- Finally, this month, two new agreements have been signed: a
proof of concept agreement with a major insurance company to
produce Arria NLG narratives to support management reporting in a
key business line; and the partnership agreement announced just
yesterday, with an application focused on the Oil & Gas
industry. In addition to extending Arria's NLG technology further
into Oil & Gas, yesterday's agreement is an opportunity for us
to work with a key organization in Artificial Intelligence, and to
potentially leverage a world-class sales distribution network in
continuing to grow our business.
This clear evidence of commercial progress by the Company is one
we will seek to maintain over the coming year.
It's worthwhile reflecting on what this commercial progress
means in terms of our business model and our client engagement
cycle.
The client engagement cycle in our business contains four stages
following an initial discussion to identify where the client's
biggest needs are in terms of achieving higher quality
decision-making from complex data-sets:
1) Proof Of Concept (POC) - this is where we use the client's
data and demonstrate the Arria NLG engine producing narratives to
support decision-making around an agreed business case.
2) Configuration - this is implementation to a live service by
way of a professional services agreement.
3) Annual Licensing - this is the operational use of the Arria
NLG Engine generating narratives for decision making in the
client's business.
4) Next POC - we repeat the process for the next priority
identified within the client's reporting eco-system. In some cases
we will go straight into Configuration for the next use case
because the live service will be sufficient demonstration of
capability.
We sign each POC in the belief that it will lead into the
configuration and annual licensing stages because we have
pre-vetted the use case to establish a higher degree of certainty
that the Natural Language Generation (NLG) outcome will be a
success. The engagement cycle can be accelerated if the client
requires and we can run multiple projects simultaneously. We can
also dispense with the proof of concept stage and move straight
into developing a live service when the client requires
Thus over time we are targeting to build multiple streams of
higher margin recurring annual licensing revenues within a single
client as the client deploys NLG applications within its reporting
ecosystem, even as we bring on multiple clients.
Since our last annual general meeting we have also obtained the
Company's first US patents on NLG innovations. The Company
maintains a strong commitment to both innovation and the filing of
patent applications.
I am pleased with the Company's commercial progress and IP
development, and we are also closely monitoring the financial
performance of the business. On 1 October 2014 we announced the
issue of US$5.0 million of convertible loan notes to The Ikonic
Fund SAC Limited and we have commenced to draw on of these funds in
accordance with the announced terms. At the time I said that it is
was appropriate for the Company to raise additional funding to
enable it to continue its commercial progress and that the issue of
the convertible loan notes to Ikonic Fund SAC Limited was the start
of this process.
For further information, please visit www.arria.com or
contact:
Arria NLG plc Tel +44 (0) 20 7100
Stuart Rogers, Chairman and Chief Executive 4540
Officer
Allenby Capital, Nominated Adviser and Tel: +44 (0)20 3328
Broker 5656
Jeremy Porter, Nick Naylor, James Reeve
Westhouse Securities, Joint Broker Tel: +44 (0) 20
Antonio Bossi, Robert Finlay 7601 6100
Walbrook, Financial PR and IR Tel: 44 (0)20 7933
Bob Huxford, Guy McDougall 8792
arria@walbrookpr.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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