REG - ADVFN PLC - Corporate update

ADVFNAnnouncement

23/07/2024 10:00

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RNS Number : 4661X  ADVFN PLC  23 July 2024

For immediate release

23 July 2024

 ADVFN plc

("ADVFN" or the "Company")

Corporate update

 

The Board of ADVFN is pleased to provide an update on the current development
of the ADVFN investor platform ("Platform"). As reported earlier this year,
the Company has been making a number of enhancements to the Platform, in line
with ADVFN's strategic aim to position the Company as a cutting-edge
technology company within the financial space.

 

These enhancements include the launch of ADVFN AI Intelligence which is
designed to empower ADVFN users with a reliable, easy-to-use AI tool that
enhances their decision-making process by offering real-time, intelligent
responses to a wide range of financial queries.

 

The recent progress on revamping the ADVFN offering, including the redesign
and mobile optimisation of the website, is phased as follows:

 

-      Phase 1 completed: The first phase of the Platform updates, which
includes most of the core tools and pages ADVFN offers and ADVFN AI
Intelligence, is now live on www.advfn.com (http://www.advfn.com/) ;

 

-      Phase 2 initiated: We have commenced the rollout of these
enhancements to additional countries, with completion anticipated in the
Autumn; and

 

-      Long Tail Redesign: Upon the conclusion of Phase 2, we will
proceed with a comprehensive update of the remaining sections of the platform.

 

We have also successfully integrated advanced analytics into our operations,
significantly enhancing our data-driven decision-making capabilities.
Optimisation and monetisation efforts are underway, with the primary objective
of increasing our subscription base.

 

The Company's new mobile app is currently in the testing phase and is
scheduled for release by the end of Q3 this year and we expect to commence the
onboarding process for existing users shortly.

 

The Board looks forward to providing a further update on Platform developments
and trading as the year progresses.

 

A copy of this announcement is available from the Company's website at
www.advfnplc.com (http://www.advfnplc.com)

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018. The person who arranged for the release
of this announcement on behalf of the Company was Amit Tauman, Director.

 

For further information please contact:

 ADVFN plc                                     +44 (0) 203 8794 460

 Amit Tauman (CEO)
 Beaumont Cornish Limited (Nominated Adviser)  +44 (0) 207 628 3396

 Michael Cornish

 Roland Cornish
 Peterhouse Capital Limited (Broker)           +44 (0) 207 469 0930

 Eran Zucker

 Lucy Williams

 Rose Greensmith

 

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

 

 

 

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