StockMarketWire.com - GBG said at the AGM, non-executive chairman, David Rasche will make the following statement:

"GBG's performance in the year to date is in line with our expectations as demand in the market for global online identity intelligence services continues to grow.

"This market growth is driven by: the continued move online (particularly in developing economies where internet penetration is still low); the increase in cross border ecommerce; the rise in fraud and tougher compliance regulation for our clients in areas such as age verification, anti-money laundering and the right to work.

"Consequently, the board remains confident in GBG's prospects based upon our long-term strategy, the quality and engagement of our team and our robust financial position.

"We are pleased to report that GBG has secured a number of new contract wins during the first quarter, examples of which include:

- A three year contract with Creditsafe under which GBG will provide a number of its solutions to Creditsafe including GBG ID3global (for UK and global identity verification checks) and GBG Connexus; and

- A technology partner agreement for the launch of Sun Bets in the UK, a new online betting partnership between Tabcorp and News Corporation. This global partnership is intended to reach The Sun's 10 million weekly readers and more than one million football fans participating in the newspaper's fantasy football competition. The multi-year deal deploys a number of solutions including GBG Matchcode360, GBG ID3global and GBG Predator (respectively the Group's identity registration, identity verification and anti-fraud solutions).

"In June 2016, we announced that IDScan Biometrics joined the group. IDScan is a provider of software that automates and simplifies the identification process of customers and employees by authenticating documents (including passports, visas and driving licenses), whilst capturing facial biometrics to provide proof that these documents are not stolen. These capabilities are highly complementary to GBG's existing product suite.

"The acquisition effectively positions GBG as a world leader in proprietary global document validation and biometric and identity verification, providing access to a market potential in excess of US$19 billion a year.

"Loqate, which was acquired in April 2015, continues to perform well.

"The Loqate technology, which at the time of acquisition served only the enterprise market, has now been developed and launched into the self-serve pay as you go market in the USA under the Everything Location brand.

"The group's acquisition strategy plays an important part in our future growth.

"We remain alert to potential acquisitions that provide opportunities to develop the markets in which we operate and enhance our product portfolio."


At 9:03am: [LON:GBG] GB Group PLC share price was +3.63p at 295.63p



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