AGM Statement 2011

At ZOO’s Annual General Meeting to be held later today, Roger Jeynes, Chairman, will make the following statement:

“Following the completion of our recent fundraising and the restructuring of our convertible loan notes, we are pleased to report that ZOO has a sound balance sheet and a solid platform for further growth.

“The Company continues to add to its suite of software and seek additional uses for its work flow management tools and now has a much broader offering and addressable market than ever before. Whilst the mainstay of our business remains working with the major Hollywood studios, we have managed to diversify our product offering to be relevant to a much greater audience. As mentioned at the time of our fundraising, the continuing upheaval in the filmed entertainment industry has affected the work flow from our major customer, however, the subsequent recovery in this work has been encouraging.

“We have made great advances in the Electronic Sell Through market and our relationship with Multi Packaging Solutions, Inc. continues to highlight attractive possibilities in a wide range of industries. We also believe that the rapidly growing e-Book market represents an exciting opportunity for ZOO.

“Whilst it is still clearly early in the current financial year, the Board believes that we are on track to meet market expectations.”