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1.539 - Non-Executive Finance Director (FD) required for the UK's first licensed multimedia vending machine & download Company, based in London.

Non-Executive Finance Director (FD) required for the UK's first licensed multimedia vending machine & download Company, based in London.

The company will sell a range from each machine including but not limited to:  I-pods, Digital cameras, Sat Nav, USB/CD/ DVD, and Memory Cards. Music and multi-media downloads will be available for purchase from download portals. Advertising will be saleable on to digital signage TV screens mounted to side and atop each machine.

A contract to install into 35 major shopping centres nationwide is awaiting successful launch of the first machine. The company will also licence its software and sell / lease its machines to thirds parties.

The NED requirements are:

  • Strategic direction/input at board level
  • Experience in multimedia retail products, broadcast, distribution and vending
  • Formal Financial qualifications
  • Experience of directing a fast growing multi-site operation
  • "City" experience, knowledge and contacts to facilitate further fundraising

It will be beneficial if the Non-Executive FD wishes to become a shareholder in the Company to align the incoming NED's interest with that of the existing Directors who are all shareholders.

1. The Company & the Market:

  • Our client, based in London has developed a vending machine designed to vend any multimedia product of a vendable size alongside a separate music download kiosk enabling consumers to download multi-media content, music and buy concert tickets.
  • The machines will accept Chip & Pin Credit and Debit cards allowing for the vending of high value items.
  • The machines feature soft drop technology, which protects the products at point of delivery to the consumer.
  • The music download kiosks feature touch screen technology, cash and credit card acceptance to enable fast and easy to use downloads and ticket purchasing.
  • A large digital signage touch screen is also part of the mix that allows third party TV advertising as well as customer interactivity
  • Our client provides telemetry, which enables online tracking of sales and inventory.
  • The company are developing proprietary software for remote downloading of audio visual content, internet, broadband, downloading of music and E-commerce. This software may also be licensed to third parties who buy machines.
  • The company is in discussions with major property companies who own shopping centres nationally, to site machines.
  • The company also plan to deploy machines in the live music concert and festival market to tap in to the market which has grown from £475 million in 1999 to beyond £615 million in 2004. (Forecast to grow a further 100% over the next decade). These can be linked with ticket collection via barcodes sent directly to consumer's mobile phones.
  • The Company estimated that 10 machines averaging physical sales of 10-12 units a day will produce a turnover of £850,000 with a gross profit of £320,000 assuming a retail profit margin of 35%. Advertising income, ticketing and download income is incremental to this.
  • The Business Plan has projected figures for 1600 machines to be deployed by end of year three.
  • Our client is seeking total further "founding fundraising" of £100,000, in order to further develop and launch the first operational units, ready the company to roll out further machines and prepare documentation for further, multi-million venture capital fundraising.
  • Exit is planned via a trade sale or floatation after 3 - 5 years.

2. Non-Executive Finance Director Requirements:

  • A Non-Executive Finance Director (FD) is required with a successful background ideally in vending / TV music or new digital media sectors to add strategic direction at Board level to help the Company develop the business and establish the Company as a major player in the vending industry.
  • The Non-Exec FD should have formal Finance qualifications, experience of directing a major roll-out on a national basis and "City" experience, knowledge and contacts to facilitate further fundraising and financing.
  • It will be beneficial if the Non-Exec FD wishes to become an investing shareholder in the Company to align the incoming Director's interest with that of the existing Directors.

    • A Business Plan is available but we will require a signed Self-Certification Statement in order to comply with the current Financial Services and Markets Act (Financial Promotion) Order 2005 (FSA) legislation plus our Confidentiality/NDA form. If you have not already signed these forms we will email them to you.

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