TechMpire keeps mum on deal with ‘one of the world’s largest’ video streamers
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Digital advertising platform TechMpire says it’s teaming up with one of the world’s biggest video streaming companies… but the ASX isn’t convinced.
TechMpire (ASX:TMP) made the announcement on Monday, telling shareholders that it was selected as a partner to develop Asia Pacific media campaigns with a premium, global video streaming company.
Only problem is, they said they couldn’t share who the client was.
At the client’s request, TMP did not disclose details of their identity – only that they were “listed on their home market stock exchange with a global user base”.
The new client was the first to be engaged by TMP in the Asia Pacific — which they said was a validation of a strategy to reach new high-growth markets, targeting well-funded mobile advertisers in the region.
“We’ve been selected to work with the client at the very start of their marketing process, allowing us to tailor the most effective campaign for their needs. This campaign planning we’ll be undertaking is in line with our premium client strategy,” chief Lee Hunter said.
The shares were put into a trading halt on Tuesday, in line with ASX Listing Rule 7.1 which states that “a trading halt is necessary as otherwise trading in the Company’s securities might occur while the market as a whole is not reasonably informed”.
At the initial announcement, the stock rose as much as 17 per cent and was last traded at 20c, to give it a valuation of $17.7 million.
Trading is expected to resume by open of trading on Thursday.