euro adhoc: MatchNet plc
Annual Reports
MatchNet Requests
Extension for Filing 2003 Annual Report
Company Reports Strong Business Momentum in Q1 04
Ken Ross appointed as chief communications officer (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
LOS ANGELES, April 28, 2004 - MatchNet plc, a leading provider of online personals, today announced that it has requested the Frankfurt Stock Exchange to grant the company an extension for the filing of its 2003 annual report. If granted the extension, MatchNet said it expects to file the 2003 annual report by May 30, 2004. MatchNet requested the filing extension due to a need of a re-auditing for the 2001 and 2002 fiscal years. Two positions have to be re-checked regarding their timing of recognition only. The positions are USD 887,000 in deferred revenue and roughly USD 591,000 in capitalized bounty costs (or the amounts paid to online marketers to acquire new members) for the 2001 and 2002 fiscal years. These processes will have no impact on free cash flow or ongoing operations. The company said that during the first quarter of 2004 it demonstrated solid operating momentum across its business. According to unaudited results, active registrations, or those members who were active in the 12 months preceding the period end date, were approximately 9.5 million for all MatchNet sites. Period-end active subscriptions were approximately 215,000 across all MatchNet sites, up 13 percent from approximately 190,000 at the end of Q4 03. The company said it believes that the implied lifetime value of a MatchNet customer ranges from USD 80 to 100. Preliminary first quarter results suggest that subscriber acquisition costs ranged from USD 30 to 40. In addition, the company announced the appointment of Ken Ross as the companys chief communications officer. Mr. Ross brings extensive consumer products and Internet experience to this new post. He served for 15 years in senior communications roles at PepsiCo, Inc. Later he directed communications for eToys and, most recently, for Overture Services. The company will discuss the extension request and related issues in further detail as well as provide operating highlights for first quarter 2004 during a live teleconference today at 1:30 p.m. Pacific time (US & Canada) and 10:30 p.m. Frankfurt time. Call Title: "MatchNet Investor Conference Call" Toll-Free (United States): (888) 550-2358 International: (703) 546-4242 Interested parties may join the call or listen to the replay that is scheduled to begin today at approximately 3:30 p.m. Pacific time and run for one week.
About MatchNet plc MatchNet plc is a leading provider of online personals. MatchNet is traded on the Frankfurt Exchange under the symbol "MHJG." The Companys Global Depository Shares trade under the symbol "MHNZF". The MatchNet network includes AmericanSingles®.com, JDate®.com, JDate.co.il, MatchNet.de, MatchNet.co.uk, MatchNet.com.au, Glimpse.comTM, CollegeLuvTM.com, Date.caTM, and FaceLink®.com. MatchNet was incorporated in England in 1998. More information is available at www.MatchNet.com
Contact Media and Investors: Ken Ross Tel.: + 1 323 658 3010 E-Mail: kross@matchnet.com URL: www.MatchNet.com Elmar Bob Tel.: +49 (69) 74 09 37 88 Fax: +49 (69) 74 09 37 87 E-Mail: elmar@matchnet.com
end of announcement euro adhoc 28.04.2004
Further inquiry note:
Elmar Bob
Tel.: +49 (69) 74 09 37 88
Fax: +49 (69) 74 09 37 87
E-Mail: elmar@matchnet.com
Branche: Online
ISIN: US5766601042
WKN: 930129
Index: Classic All Share, Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade