Sports Stars Media plc Trading Update (6341Z)

TIDMSPSM

RNS Number : 6341Z

Sports Stars Media plc

10 February 2014

Sports Stars Media Plc

("SSM", "the Group", or the "Company")

Strategy and trading update and appointment of Joint Broker

Sports Stars Media Plc, the sports animation and media company, provides the following trading update in respect of the financial year ended 31 December 2013. SSM expects to publish its preliminary results for the year ended 31 December 2013 on 21 April 2014.

Group revenue for the year was negligible, which largely reflects a slower than anticipated initial take-up of The Mourinho product range. As a result, and as previously highlighted, the Group expects to make a loss for the year.

The Group continues to develop its product and service range, and a major part of this development strategy is the role-out of the The Game by Ronaldo, which the Company launched in November 2013. The Group is pleased to announce that the initial take-up of The Game has exceeded management expectations, with anticipated player and team registrations rapidly approaching 100,000 and 25,000 respectively. The Game now has players registered from over 180 countries after only three months of launch.

The Group is ready to launch a number of new marketing initiatives in order to capitalise on the opportunities available to it. These initiatives would require additional funds and the Group is reviewing funding options for this and its ongoing working capital requirements.

The Company is also pleased to announce that it has appointed Peterhouse Corporate Finance Limited as Joint Broker with immediate effect.

Commenting, Ruben Dias, Co-CEO, said:

"2013 has proved to be a challenging but productive year for the Company. We still await the expected revenue follow-through following the highly publicised launch of The Mourinho product range in May 2013. Our focus is now on the licensing and merchandise opportunities and football related products that can be derived from the created content.

"We are delighted to report the extremely encouraging market reaction to our recent launch of The Game by Ronaldo. Based on the demand since this launch, we increasingly see this area of our business as being of major significance for the Group.

"Finally, the Group is pleased to welcome Peterhouse Corporate Finance Limited as Joint Broker to SSM. This move reflects our commitment to communication with shareholders as we move forward with growth and development plans."

For further information, please contact:

www.sportsstarsmedia.com

   Ruben Dias, Co-CEO                                                           +1 604 902 2214 
   Carlos Amaro, Co-CEO                                                       + 971 506762328 
   Lindsay Mair, Sanlam Securities UK                                +44 20 7628 2200

Catherine Miles, Sanlam Securities UK

   Jon Levinson Peterhouse Corporate Finance                 +44 20 7469 0930

Duncan Vasey, Peterhouse Corporate Finance

   Josh Royston, Newgate Threadneedle                            +44 20 7653 9850

Heather Armstrong, Newgate Threadneedle

The information contained within this update is produced to the best of the knowledge of the directors and has not been reviewed by the Company's auditors.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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