Press Release – Snakk Media
he first company to list on the New Zealand stock exchange this year began trading on the NZX Alternative Market (NZAX) today, providing another option for New Zealanders looking to invest in hi-growth companies.Snakk lists on NZAX
Future-focused new screen media company a fresh option for hi-growth investors
Auckland, 6 March 2013 – The first company to list on the New Zealand stock exchange this year began trading on the NZX Alternative Market (NZAX) today, providing another option for New Zealanders looking to invest in hi-growth companies.
Snakk Media Limited is now listed on the Alternative Market operated by NZX Limited under the code SNK.
The new screen media company, which enables brands to reach consumers using smartphones and tablets, marked the compliance listing at a function hosted by Snakk Chairman and company co-founder Derek Handley.
NZX CEO Tim Bennett, investment advisers, and key members of Snakk’s NZ and Australian team, including newly appointed director Michelle Kong and company co-founder Andrew Jacobs, attended the event, where Mr Handley revealed the company’s plans for future capital raising initiatives.
This included offering a Share Purchase Plan expected to take place in the second quarter and only available to investors who are registered as shareholders at that time.
Mr Handley said the company’s growth strategy for the next 12 months will be focussed on increasing its Australian market share. Growth projections are aligned with the Australian market spend on mobile advertising, which analysts predict to reach $AU177 million, by 2017 from a standing start just a few years ago.
“We now work, shop and play across a number of screens and sites”, said Mr Handley. “This multi-screened, multi-channelled world is fragmenting audiences and disrupting traditional advertising models, providing tremendous opportunities for Snakk.”
Snakk partners with publishers to understand who and where the audiences are, and then uses technology to deliver highly-targeted and customised ads across a publisher’s social media, mobile websites and apps (applications). The publishing partnerships enable Snakk to aggregate fragmented audiences, and then package them for media agencies and brands with maximum effect.
Auckland-based Technology and Partners Manager Max Flanigan said that the social-mobile-tech space changes very rapidly and thus licensing a portfolio of technology platforms means that Snakk can offer brands a more complete, customised and flexible solution than if the company had invested heavily in a single platform.
“We use the best technology available internationally to deliver the right ad to the right audience at the right time and in the right format,” said Mr Flanigan. “The technology scales as the audience size increases and it is also very adaptable: we can change how, where and when the ads are delivered at any time during the campaign, to correspond with the audience’s response.”
Mr Handley and Mr Jacobs launched Snakk in Australia in 2010. The company has 16 people working across the business, with Mr Jacobs as its General Manager. Four of these positions and two board members are based in Auckland, with sales staff operating from its Sydney and Melbourne offices.
Snakk recently announced its half-year financial results, which showed its unaudited revenue up 48% for the first six months to 30 September 2012. This follows a year of 345% revenue growth in its second year of trading.
According to a recent analyst report, money spent advertising on mobile devices is forecast to grow by 46% year on year over the next five years in Australia, eclipsing online video advertising to become the fastest growing form of digital ad spend.
Snakk Investor website: www.snk.co.nz
1. How can I buy shares in Snakk?
Snakk shares can be purchased by placing an order through an NZX market participant. The share code is SNK. A full list of NZX market participants and other information about buying or selling shares can be found on the NZX website.
2. How many shares can I buy?
The amount of shares you can buy will be limited to what’s available for sale on the open market by existing shareholders.
3. What is the share price?
The current share price can be found on the NZX website.
4. Why aren’t you doing an IPO and accepting applications to buy shares from the general public?
Snakk’s move to the NZAX was undertaken as a compliance listing, which is different from an IPO. We intend to raise capital through what’s known as a Share Purchase Plan (SPP). In addition to facilitating future capital raising initiatives, a compliance listing allows Snakk’s existing shareholders to trade their shares. It is also an efficient and cost-effective way to list a company on an NZX market.
5. What is the Share Purchase Plan?
The SPP is a capital raising method that offers a simple and cost-effective way for existing shareholders to increase their holdings and raising new capital for the company.
6.How and when can I take part in the Share Purchase Plan?
Once the Share Purchase Plan (SPP) is open for applications, only registered shareholders on the record date will be able to participate. This means you need to already hold or have acquired shares in Snakk on the market, prior to the SPP record date. Those participating in the SPP can invest up to NZ$15,000 in the company. This is the quickest and most cost-effective way to invest further in Snakk.
7. When and how much do you expect to raise?
Snakk’s philosophy is to raise smaller amounts over time, as we meet our milestones and as our needs for capital increase. The SPP is expected to take place sometime between April and June 2013.
About Snakk Media Limited
Snakk enables brands to reach their consumers on smartphones and tablets, delivering engaging ads across a network of mobile websites, applications, and games in a way that is highly targeted, measurable and scalable. The company’s expertise and portfolio of technology aggregates a publisher’s supply of ad space and matches it with an advertiser’s demand. Snakk is deeply committed to building a purpose-driven business that balances commercial outcomes with a higher social purpose.
 The Company has applied to NZX for listing as an NZAX Issuer. All the requirements of NZX for Quoting of Securities, that can be complied with on or before the date of distribution of this press release, have been complied with. However, NZX accepts no responsibility for any statement in this press release or the Offering Document. NZX has authorised the NZX Sponsor to act in this Offer.