News

Vividas to cut European operations, CEO leaves

01 October 2008 14:03:00

Video streaming specialist Vividas announced it will reduce its European operations and focus on Asia-Pacific and North America and that its chief executive Paul Neville has decided to step down with immediate effect.

The group said that with the video streaming market still in its infancy and the economic climate toughening, it has decided to focus on markets where the business has enjoyed the most traction to date and which offer the greatest opportunities.

The move is expected to generate cost savings of around £500,000 per year, Vividas said.

"Additionally, the board is currently reviewing all strategic options for the business as it focuses on maximising shareholder value," it added.

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.