Board Changes & Further Strong Growth in REC*IT

SYDNEY, 7 October 2016 – MOKO Social Media Limited (MOKO) is pleased to announce the appointment of experienced public company Director Malcolm (Mal) James as Non-Executive Chairman and US sports industry leader James (Jim) Ross as a Non-Executive Director, effective 7 October 2016.

Mr. James replaces Greg McCann who is retiring as Chairman also effective today. Mr. McCann joined the board in April 2007 and as Chairman has guided the company’s IPO and listing on the ASX, and its entry into the US market.

MOKO CEO Shripal Shah said that he has appreciated the support from Mr. McCann and thanked him for his nine years of service to MOKO. “Greg has been a steadying influence and has provided me with sound advice. I will miss his contribution.”

Mr. James is a highly experienced public company Non-Executive Chairman and currently is Non-Executive Chairman of Algae.Tec Ltd and Anova Metals Ltd and a Non-Executive Director of Vimy Resources Ltd.

Mr. Ross has extensive experience in sports management at senior levels in the US with a strong focus on driving sales and revenue growth through innovative management across a range of marketing channels.

Mr. Ross has held senior positions with teams in the NFL (National Football League) and the MLB (Major League Baseball) as well as leading roles at sports entertainment companies, and key experience across national and international events.

MOKO chairman Greg McCann said “We are delighted to welcome both Mal and Jim to the board of MOKO Social Media. Mal is an experienced public company Chairman and Jim’s extensive experience in US sports marketing and proven record in driving increased revenues, is highly valued. We look forward to their guidance and leadership as MOKO enters the next stage of its growth. We believe their experience and networks will be a great asset in the current review of strategic options for the future of the company, a process in which advisor District Capital Partners is assisting.”

MOKO today also reported further strong growth in take-up of its leading REC*IT app, into the new US academic year (2016-17) with over 889,000 total first launches for REC*IT as of 6th October 2016.1 In the period from the 1st of August 2016 until the 30th of September 2016 REC*IT has achieved the following:

– 154,000 + First Launches – demonstrating a 43% increase from the same period last year
– 241,000 + Unique Visitors – demonstrating a 65% increase from the same period last year
– 13 screens viewed per session – demonstrating a 33% increase from the same period last year

MOKO CEO Shripal Shah said: “The ongoing strong take-up of REC*IT confirms our product is widely engaging the US student market.

“Our aim now is to leverage our leading position to drive sales and revenue growth. The appointment of Mal and Jim is perfectly timed to help us take our business to the next level. Their experience and network will assist us in forging new brand partnerships.”

Experience and Expertise of New Non-Executive Directors:

Mal James
Mr. James has over 30 years experience in finance, project development and public company management. During this period he has worked in several countries and been involved in over $2.5 billion in capital and debt raisings. He is currently the principal of MRJ Advisors, a boutique investment, advisory and project development organisation with offices in Perth and New York, and is the Non-Executive Chairman of Anova Minerals Ltd and Algae.Tec Ltd and Non-Executive Director of Vimy Resources Ltd and Squadron Resources Pty Ltd. Mr. James is well known for his philanthropic work in Australia and overseas and was the inaugural CEO of the Australian Employment Covenant, an organisation set up to promote long term employment for Indigenous Australians.

Jim Ross

Mr. Ross is currently General Manager, League and Team Marketing for FanDuel, the world’s largest daily fantasy sports company. At FanDuel he has developed and managed the online company’s key partnerships with NBA and NFL teams and provided expertise and guidance during a period of unprecedented growth.

Prior to FanDuel, Mr. Ross served as Executive Vice President, Business Operations and Strategy for Palace Sports and Entertainment overseeing the corporate sales, premium seating and suite sales, data and analytics and business strategy departments.

Previously, he served in senior roles at the New York Yankees and Cleveland Browns where he was involved in the landmark stadium naming rights deals as well as being responsible for significant sales, marketing and revenue generating activities.

Mr. Ross also held senior level positions at the Miami Dolphins and Dolphin Stadium; the Florida Marlins and the New York Mets.

Mr. Ross holds a B.S. in Journalism (Public Relations) from the University of Colorado and also attended the Sports Management Institute Executive Program in 1991.

He has sat on the board of the Genetic Disease Foundation since 2013 and Make-A-Wish MI since 2015.

Remuneration:
Subject to shareholder approval at the next general meeting, the Company has agreed to issue each of Mr. James and Mr. Ross 25,000,000 options over ordinary shares with an exercise price of $0.0125 and an expiry date of 30 June 2019.

Download full Press Release here.

Posted on October 7, 2016 in ASX Announcements, News

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