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DJ Ganapati plc Trading Statement

 
TIDMGANP 
 
30 August 2016 
 
                                 Ganapati Plc 
 
                         ("Ganapati" or "the Company") 
 
                               Trading Statement 
 
Ganapati Plc is today issuing a trading update for the six-month period ended 
30 June 2016. 
 
Directorate Change 
 
Ganapati continues to advance its development in the online gambling sector, 
which has allowed the Company to offer operators a range of gambling software 
products. The Company has invested resources in London, and will shortly move 
from its temporary office to a high-tech office block. The Company has 
appointed Mr Mitsuya Fujimoto, as Chief Operating Officer with immediate 
effect. Mr Fujimoto will be supporting the London office and control operations 
outside Japan focusing on the UK and European regions. 
 
Mitsuya Fujimoto (age 56, Chief Operating Officer) 
 
Mr. Fujimoto has a combination of over 30 years' experience gained in media and 
marketing industry, both in Japan and internationally. He has gained invaluable 
experience in all aspects of media entertainment and, has developed excellent 
insight and knowledge of legal issues on international Intellectual property. 
 
Mitsuya Fujimoto current and past (five years) directorships are as follows: 
 
Current directorships/partnerships    Past directorships/partnerships (five 
                                      years) 
 
None                                  None 
 
 
Mr Taku Sawada has been made Chief Liaison Officer bringing to the fore his 
proven sales and marketing skills. 
 
The Ganapati Apps 
 
Despite the issues of increased regulation and competition in Japan, as 
previously reported to shareholders, and following further feedback from 
consumers and industrial contacts, the Company is capitalising on the 
substantial investment made into its three apps (BUZZPOP, ZAPPI and MY list). 
In July 2016, the Company launched a new version of BUZZPOP and, by the 
beginning of August 2016, free downloads had reached over 21,000. The Directors 
expect the demand to continue at around 20,000 downloads per month. Once the 
total downloads reach 100,000, possibly towards the end of Q4 2016, the 
attention will be focused on generating revenue. 
 
The Gambling Commission application 
 
There is a continuing dialogue with officials from the Gambling Commission. A 
further full meeting with the Company's legal representatives will take place 
at the end of August 2016. 
 
European Developments 
 
a) Estonia and Latvia 
 
The Directors are preparing to enter into a contract with a technology business 
in Estonia (also covering Latvia) to purchase its own Remote Gaming Server. 
Ganapati intends to capitalise on the highly skilled local operators and 
designers. The plan is to develop the beta version of the games by the end of 
Q4 2016, which will allow Pan-European distribution early in 2017. 
 
b) Malta 
 
The server will be hosted in Malta where the Company is establishing a 
subsidiary company to allow the integration of all its operations. A possible 
completion date for the first stage of this initiative is September 2016. 
 
Financial considerations 
 
The Company is fully financed by the continuing support of Japanese loan note 
holders. The switch to European activities means that the investment and 
overhead costs in Tokyo have reduced significantly allowing further investment 
in the UK and European operations. 
 
The company is in the early stage of discussing with its advisers a possible 
Placing of shares later in the year and shareholders will be advised as soon as 
the details, if applicable, are known. 
 
Risk factors 
 
The risk factors set out in the accounts to 31 January 2016 remain in place 
because the Company has still to generate the level of revenues it needs to 
become self-financing and move into profitable trading. 
 
The Directors of Ganapati Plc accept responsibility for this announcement 
 
CORPORATE ADVISER AND CONTACT DETAILS: 
 
Ganapati plc 
Tony Drury 
Chairman 
Telephone: 07973 737284 
 
ISDX CORPORATE ADVISER: 
 
Alexander David Securities Limited 
David Scott - Corporate Finance 
James Dewhurst - Corporate Broking 
Telephone: +44 (0) 20 7448 9820 
http://www.ad-securities.com 
 
 
 
END 
 

(END) Dow Jones Newswires

August 30, 2016 09:01 ET (13:01 GMT)