MediaZest PLC - Surrey-based audiovisual services firm - Completes the incorporation of a new, wholly owned, European subsidiary based in the Netherlands. Says the subsidiary will help the company to deliver services more efficiently to its EU based clients, building on recently completed projects. These include audio-visual work for the new Lululemon flagship on the Champs Elysees in Paris which opened in December, and since the start of 2023 projects in the region have already included overseas work in Slovakia, it adds.

Expects to release its financial results for the year ended September 30, 2022, in February.

Chief Executive Geoff Robertson comments: ‘Following the incorporation of the European subsidiary, the board expects to see further substantial work within EU member states in 2023, building on the strong performance in financial year 2022.’

Current stock price: 0.052 pence, down 5.1% on Monday afternoon

12-month change: down 48%

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