Write-down of Historical Investment
After receiving financial advice, Ayima’s board has today taken the decision to write-down the value of an historical investment. In 2015, Ayima invested in the development of Tootsa MacGinty Limited, an ecommerce start-up, and has contributed marketing and administrative support each year since. However, recent trading and a general downturn in the retail sector has indicated that the business is no longer a viable investment.
The balance-sheet value of the investment before the write-down was SEK 5,930,801. Ayima’s board has decided that the value of the investment and loan account should be reduced to zero as of 31 December 2019. The resulting balance sheet adjustment will contribute an extraordinary item to the Profit and Loss statement for Q4/FY 2019 and result in a worsening of the predicted after-tax loss.
The investment in Tootsa MacGinty Limited was historical and in no way affects current trading or performance. Ayima Group AB currently holds no other investments in 3rd party companies.
Current expectations for trading performance are still in line with the notification to the market issued on 23 October, 2019. It is expected that the Q4 result will show a decline from the previous quarter, however Ayima’s exceptionally strong sales performance will drive a turnaround and eventual return to profitability in Q1-Q2, 2020.
For further Information:
CEO/VD Michael Jacobson
+44-20 7148 5974
press(at)ayima.com
www.ayima.com/investors
About Ayima
Originally founded in 2007, Ayima is a digital marketing agency with around 150 employees across its offices in London, New York, San Francisco,Stockholm and Vancouver. Ayima have created a number of market-leading software tools that are used in by clients and agencies around the world, including ‘Updatable’, ‘Redirect Path’, ‘Page Insights’, ‘Pulse’ and ‘Appotate’.
Ayima is listed at Nasdaq First North under the “Ayima B” ticker. Certified Adviser is:
Eminova Fondkommission AB
+46 (0)8 – 684 211 00,
This information is insider information that Ayima Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 5 February 2020