MediaZest share price jumps as company confirms new business wins

MediaZest reveals £250,000 of additional written orders

MediaZest (LON:MDZ) shares soared this morning, by over 80% to 0.16p in early morning trading, before settling at 20% up in the afternoon, following the auto-visual creative company providing an updated on “an encouraging rate” of new project work.

The AIM-listed company, which held its annual general meeting on Tuesday, confirmed that £250,000 of additional written orders had been received, while similar number of additional orders are currently at the later stage of negotiations.

While a small proportion of these projects have already been completed, the MediaZest board expects the majority to be delivered in the second half of the current financial year, ending 31 September 2021.

Geoff Robertson, chief executive of MediaZest, commented on the increase in orders in addition to the outlook for the coming year.

“We have seen a marked increase in new business opportunities since the beginning of the calendar year and the Board is pleased with the rate at which these opportunities are being converted into orders. Although some uncertainty remains, primarily due to the ongoing impact of Covid-19, the outlook for the second half of the financial year is promising and we look forward to updating our shareholders further in due course.”

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“The information contained within this announcement is deemed to constitute inside information as stipulated under the UK Market Abuse Regulation. Upon the publication of this announcement, this inside information is now considered to be in the public domain.”

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