5 July 2023
Pelatro Plc
("Pelatro" or the "Group")
Potential acquisition
Potential acquisition
Further to the announcement of 1 June regarding the Group's acquisition strategy, the Board confirms that it has been in early stages of evaluating one particular opportunity which would have added recurring revenue and cash flow as well as diversified the Company away from emerging markets with a broader geographic presence. However, the owners of that target have now indicated that they are unlikely to want to sell the business in the near term and hence discussions have terminated.
The Board will continue to evaluate potential acquisition opportunities that fit the Group's focused criteria and will update shareholders as appropriate.
For further information contact:
| Pelatro Plc | |
| Subash Menon, Managing Director | c/o finnCap |
| Nic Hellyer, Chief Financial Officer | |
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| finnCap Limited (Nominated Adviser and Broker) | +44 (0)20 7220 0500 |
| Carl Holmes/Milesh Hindocha (Corporate Finance) | |
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This announcement is released by Pelatro Plc and, prior to publication, the information contained herein was deemed to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014. Such information is disclosed in accordance with the Company's obligations under Article 17 of MAR. The person who arranged for the release of this announcement on behalf of Pelatro Plc was Nic Hellyer, CFO.
Notes to editors
The Pelatro Group was founded in March 2013 by Subash Menon and Sudeesh Yezhuvath with the objective of offering specialised, enterprise class software solutions for customer engagement principally to telcos who face a series of challenges including market maturity, saturation and customer churn.
Pelatro provides its "mViva" platform for use by customers in B2C and B2B applications and is well positioned in the Customer Engagement space. Our technology orchestrates the digital journey of the customers of the telcos through contextual, relevant and real time offers and loyalty programs across multiple channels including websites, social media, apps and others.
For more information about Pelatro, visit www.pelatro.com
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