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VMob adds Japan to line-up of McDonald's clients for voucher system

VMob [NZAX: VML] Group said McDonald's will use its mobile voucher platform for its 3,200 restaurants in Japan, adding to sales to the fast-food giant in the Netherlands and Sweden.

Shares of the NZAX-listed company jumped 25 percent to 1.5 cents, valuing the company at $18.9 million, having shed about 53 percent this year.

Auckland-based VMob completed a backdoor listing on to the stock exchange's small-cap NZAX in 2012 using the shell company Velo Capital. Since then it has regularly raised capital by issuing shares, and currently has about 1.26 billion on issue. The company is about one-third owned by the family of chief executive Scott Bradley.

VMob, formerly VoucherMob, was set up in 2010 by Bradley. Other customers include Esso Norway, Spark, Vodafone and 2Degrees, and it has a partnership with Loyalty New Zealand for its Fly Buys mobile programme.

(BusinessDesk)