Stockholm, 02 October 2015: Trig Social Media AB announces that it has completed the group’s reorganisation. This has meant that the operation of Trig Entertainment AB in Stockholm has been discontinued.
Consequently, Trig Social Media will potentially take a loss in the third quarter. Trig expects this to be offset by the end of the year, through its new direction which is made up of several components: The introduction of the Fusion Franchise system to better market its applications, the agreement with various parties to manage different applications on a profit share basis, new cost control measures, and future assimilations of enterprises with complimentary services to Trig. The new direction has already resulted in the company having invoiced over €1 million in September, while the expected operational cost savings will be around €2 million.
In addition, Trig would also like to announce that to reduce overhead and management time it agreed with the predominate shareholders to distribute, in an approbate manner, all Trig Social Media AB shares owned by Trig Media Group AB (TMG) to TMG’s shareholders. The completion date of this is currently unknown due to the legal procedure.
About Trig Social Media (Publ.)
Trig Social Media (Publ.) is a global social media platform provider who has designed a range of social user-engagement product applications such as Trig.com, Trig Money, Momentik by Trig, HeyHey, Trig TV, and Esports.
The global growth of the company’s product applications is being developed directly with users as well as via country Franchisees, affiliates, and ambassadors.
Trig Social Media AB
Phone: +46 (0) 40-60 60 284
Fax: +46 (0) 40-692 92 52
P O Box 1268, S – 131 28 Nacka Strand
Investor Relations Contact:
Phone: +49 (0) 511 – 47 40 23 11
Office Center Plaza, Mailänder Straße 2