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Summary of financial informationThe following table summarises key financial data for the Group, which is extracted from Part III ofthis document:Six monthsYear ended Year ended Year ended ended31 December 31 December 31 December 30 June2007 2008 2009 2010€m €m €m €mRevenues 9.1 14.0 17.2 18.0EBITDA 1.8 1.9 1.2 2.6Profit/(loss) before tax 1.0 0.6 (1.1) 1.4Total assets 8.0 12.7 14.2 15.2Operating cash flow 0.4 0.3 2.6 3.1The Group’s revenue CAGR over the last three years has been 29 per cent. and in the first six monthsof the current financial year, revenue has increased by 111 per cent. when compared to the firstsix months of 2009.Key strengthsThe Directors believe that the Group has, inter alia, the following key strengths to support the deliveryof its strategy:●●●●●established in 2000, a history of successful operations;an experienced management team;an integrated technology platform;long term business relations with high calibre partners; anda focus on developing markets where the Directors believe a better growth opportunity exists.The placing and use of proceedsThe Group is seeking to raise gross proceeds of approximately £6.8 million by the issue of5,641,025 Placing Shares at the Placing Price.The net proceeds of the Placing receivable by the Company are expected to be approximately£5.7 million and will be used as follows:●●●●to fund business development in the markets of interest, by way of working and investment capitalfinancing;to further develop Akazoo, the online and entertainment content module of the Group’sinteractive mobile marketing platform, including the re-design of its user interface and theenrichment of its content library;to invest in expanding network technology equipment and enhancing the mobile marketinginteractive platform; andto set up new offices in key markets that the Directors believe require a more permanent presenceand which can be used as a platform for further expansion in adjacent regions.YOUR ATTENTION IS DRAWN TO THE RISK FACTORS REFERRED TO IN PART II OFTHIS DOCUMENT.15
PART IINFORMATION ON THE GROUP1.1 IntroductionWith its first operations being established in 2000 following the incorporation of InternetQ Greece, theGroup is now a cashflow-positive, profitable technology business. The Group offers mobile marketingsolutions and digital entertainment that enable brands, mobile network operators and mediacompanies to design and implement targeted, interactive and measurable campaigns by engaging withand entertaining mobile network subscribers via their mobile devices. The Group is headquartered inAthens and, as at 30 September 2010, employed 65 people across four offices worldwide and operatestwo data centres in Greece and Luxembourg.The ownership of mobile devices and their use for voice communication and data exchange continuesto expand throughout the world. Globally, there are now over five billion mobile network subscriptionswith around 21 per cent. of these having access to high speed services (Wireless Intelligence 2010). Thishas resulted in the mobile device being increasingly used as a tool not only for communication but alsofor accessing new media, marketing and entertainment services. These services provide businesses withthe opportunity to engage directly with consumers in an interactive manner. For example, consumersmay respond to:●●●an advert by texting to a short code in order to receive further information about the promotedproduct or service; ordigital coupons transmitted to their mobile device in order to receive product discounts or top-upservices; oran offer to participate in a marketing or promotional campaign, becoming eligible to win prizesor loyalty points from their favourite brand or service.The Group offers proprietary technology, digital content and marketing services aimed at creating anengaging experience.The Group has offices in Athens, Istanbul, Warsaw and Limassol. The Group’s strategy is to focus onexpanding its business in such developing markets, which the Directors believe are more receptive tomedia and social engagement through a mobile device since more traditional communication methodsare not as established as they are in more developed economies.To date, the Group has delivered consistent growth in terms of revenue generation and is currentlyproducing positive free cash flows despite ongoing investments in improving and expanding itstechnology platform and digital content footprint. This performance is the result of, inter alia:●●●technology efficiency and scalability;focusing on developing markets, where the mobile subscriber population is growing rapidly andsocial interaction has been shaped around the use of mobile devices; anda focused approach towards managing costs and resources.The Company intends to raise approximately £5.7 million (net of expenses) by way of the Placing. Theproceeds of the Placing will provide the Company with additional working and investment capital inorder to accelerate both organic and acquisitive growth. The Directors believe that Admission willstrengthen the Group’s international profile, allow it to expand its technology in new mobile marketingapplications, develop its business in the markets of its choice and increase its chances of attractingtalented professionals. The Placing and Admission are therefore seen by the Directors as an importantpart of the growth of the Group towards its objective to become a world leader in offering mobilemarketing solutions through the use of its technology.1.2 Background to the mobile marketing industrySince the creation of mass media technology, companies have used technology to communicate withlarge numbers of people in order to advertise their products and services.16
Page 2 and 3: THIS DOCUMENT IS IMPORTANT AND REQU
Page 4 and 5: provided that no such offer of Ordi
Page 6 and 7: TABLE OF CONTENTSTABLE OF CONTENTS
Page 8 and 9: DIRECTORS, SECRETARY AND ADVISERSDi
Page 10 and 11: DEFINITIONSThe following definition
Page 12 and 13: “Mobile Dialogue”“Non-Executi
Page 14 and 15: GLOSSARY OF TECHNICAL TERMSThe foll
Page 18 and 19: The history of mass media has been
Page 20 and 21: 1.4 The Group’s TechnologyThe Gro
Page 22 and 23: Technology production processTechno
Page 24 and 25: Results:The campaign started on 22
Page 26 and 27: evenues of nearly US$24.0 billion w
Page 28 and 29: 1.11 CompetitionThe Directors belie
Page 30 and 31: In addition, he is a Chairman of Wi
Page 32 and 33: 1.14 The PlacingOn Admission, the C
Page 34 and 35: On Admission the audit committee wi
Page 36 and 37: the Group’s cost structure to mat
Page 38 and 39: The international nature of the Gro
Page 40 and 41: ●●●develop additional levels
Page 42 and 43: ●●●●market acceptance of it
Page 44 and 45: statements and may materially affec
Page 46 and 47: Risks Related to the Placing and Ad
Page 48 and 49: PART IIIFINANCIAL INFORMATIONSet ou
Page 50 and 51: SECTION B: HISTORICAL FINANCIAL INF
Page 52 and 53: INTERNETQ LIMITEDConsolidated state
Page 54 and 55: INTERNETQ LIMITEDConsolidated cash
Page 56 and 57: (d)Basis of Consolidation: The cons
Page 58 and 59: held for sale, even when the entity
Page 60 and 61: Revenue from servicesRevenues of th
Page 62 and 63: the risks and rewards of the asset
Page 64 and 65: (f)Derivative financial instruments
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Gains or losses arising from dereco
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Internally generated software: Deve
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● IFRS 2 Share-based Payment, eff
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Year ended 31 December 2007Mobile M
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Year ended 31 December 2009Mobile M
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Non-current assetsAs at As at As at
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Depreciation and amortisation in th
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The Greek nominal tax rate for the
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(Debit)/credit1 January to statemen
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11. Investment PropertiesThe moveme
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13. Trade ReceivablesTrade receivab
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17. Interest-Bearing Loans and Borr
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An international firm of independen
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Salaries and fees for the members t
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24. Financial Risk Management Objec
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As at31 December Less than 6 to 122
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PART IVADDITIONAL INFORMATION1. The
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authorised but unissued share capit
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member so present in person or by p
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4. Directors’ Interests4.1 The in
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Name Present PastIain Barrie Johnst
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9. EmployeesAs at the date of this
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of Placing Shares (effected through
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financial position of the Company a
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In some circumstances, a UK tax res
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Perivan Financial Print 219548
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