Ann: GENERAL: GEO: GeoOp continues strong strategic and...

• Release Date: 18/08/15 08:42
• Summary: GENERAL: GEO: GeoOp continues strong strategic and operational progress
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					GEO
18/08/2015 08:42
GENERAL
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GENERAL: GEO: GeoOp continues strong strategic and operational progress

GEOOP LIMITED (NZX:GEO)
Tuesday, 18 August 2015

GeoOp continues strong strategic and operational progress

GeoOp Limited (Geo), the workforce productivity company that offers complete
job management to businesses all over the world, continues to execute on a
number of operational and growth initiatives. As well as providing an
operating update, Geo in this announcement provides an update in respect of a
forthcoming capital raising.

Operating update

1.   Key global integrations

During 2015, Geo has been working on the development of integrations with
globally leading cloud applications, including key online accounting software
providers being Intuit and MYOB.  These integrations will assist Geo to
accelerate further in the Australian and NZ markets via MYOB and in the US
market via Intuit, where many potential customers have been asking for these
integrations before they will adopt Geo.  Geo is already successfully
integrated with Xero. Establishing key integrations with other players in the
Australasian and US markets are key to accelerating international growth.

Intuit - Quickbooks. Geo has completed the integration with Intuit's
QuickBooks accounting software for the US market.  This integration will
provide Geo's customers with the capacity to invoice directly via QuickBooks,
making their businesses more efficient and improving their workflow. The
QuickBooks' integration is built on Geo's new API layer and will accelerate
the speed in which Geo can add new SaaS solutions to its ecosystem.

MYOB - AccountRight. Geo is also in the final stages of an integration with
MYOB's AccountRight solution for the Australasian market through the same new
Geo API layer. The integration to AccountRight will allow Geo's customers to
create jobs, manage inventory and invoice via MYOB while in the field.

Both integrations will be released to the market in September 2015.  This,
and the fact that Geo already has a successful integration with Xero, means
that Geo will shortly have integrations with three leading online accounting
software providers in the US, UK, Australian and NZ markets.

2.   Growth in ARPU
In June 2015, Geo released new licence pricing plans targeting smaller
operators and refined other price points for existing licence-based plans.
The changes to pricing have resulted in a 17% increase in average revenue per
user (ARPU) across the new customer base to July 2015, while maintaining a
competitive entry point.

3.  CEO - permanent position announced and long-term share plan confirmed
The Board is pleased to confirm Anna Cicognani as Geo's CEO. Anna joined as
Acting CEO in February 2015.  Since this time, she has displayed her
capabilities and strengths in driving the Company to profitability through
focusing on providing Geo's customers with a suite of tools, at the right
price to help their businesses manage their jobs in the field more
efficiently and ultimately succeed.  The Board of Geo has been extremely
impressed with the strategic vision, operational and cultural improvements
that Anna has initiated and implemented.

Geo is very pleased to have an Australian based CEO of Anna's quality. Geo
remains well positioned for strong future international growth under Anna's
leadership.

4.  Australian expansion.
As well as appointing an Australian-based CEO, Geo will relocate its Sydney
operations to larger premises. Australia is Geo's largest market, currently
representing over 50% of its customer base.  Further appointments are
expected to be made in Australia, reflecting the size of the opportunity.

Capital raising

Further to the announcement on 5 May 2015 regarding Geo's intention to raise
further capital, Geo announces that it is currently in discussions with
several offshore and some domestic investors regarding a placement to be
followed by a share purchase plan (SPP) to all existing investors.

Further details about the capital raising and SPP are expected to be
announced shortly.

Use of Capital. Geo will deploy new capital raised to invest in the Company's
profitable growth strategy, which will see the Company expand its channels to
market, increase the number of ecosystem partners and add product features to
position itself as a leader in workforce productivity software.

All new shares issued by way of the placement and the SPP will rank equally
with existing Geo ordinary shares currently on issue.

---- ends -----

For more information please contact:
Stewart Reynolds
Chief Financial & Operating Officer
Email: [email protected]

Bryony Hampton
Content and Communications Manager
Email: [email protected]

About GeoOp:  GeoOp (www.geoop.com) is an essential platform for mobile
workforces in more than 30 countries. It has a major impact on business
productivity - research has found its customers save 105 minutes a day per
person, avoid missing five jobs a month and get paid seven days faster.
GeoOp is award-winning, low-cost, easy-to-use job management with premium
support. It is native on Apple, Android and Windows.

The opportunity for GeoOp remains very large and there are over 65 million
mobile workers in the Western World.  Most of these workers now have a
Smartphone in their hands, which they did not have 3-4 years ago.   GeoOp is
well positioned around the key "mobility" trend globally.  The key
competition remains as "pen and paper" in the small business space.

At the end of June 2015, GeoOp had exceeded 19,000 licence users, compared to
4,500 licence users at the time of GeoOp's NZAX listing in October 2013 (322%
growth over a 20 month period).
End CA:00268570 For:GEO    Type:GENERAL    Time:2015-08-18 08:42:02