TIDM7DIG
RNS Number : 9372X
7digital Group PLC
03 September 2020
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA,
CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR
JAPAN OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD
BREACH ANY APPLICABLE LAW OR REGULATION.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY
SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR
ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE
OF ANY SECURITIES OF 7DIGITAL GROUP PLC IN ANY JURISDICTION WHERE
TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.
UNLESS OTHERWISE INDICATED, CAPITALISED TERMS IN THIS
ANNOUNCEMENT HAVE THE MEANINGS GIVEN TO THEM IN THE DEFINITIONS
SECTION INCLUDED IN THE APPENDIX TO THE COMPANY'S ANNOUNCEMENT OF
7.00 AM TODAY.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (596/2014/EU) ("MAR"). IN ADDITION,
MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF
CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE
RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE
INFORMATION, AS PERMITTED BY MAR. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN
POSSESSION OF INSIDE INFORMATION.
3 September 2020
7digital Group plc
("7digital" or the "Company")
Result of Oversubscribed Placing and Subscription raising
GBP6.0m
7digital Group plc (AIM:7dig), the global leader in B2B
end-to-end digital music solutions, announces that, further to its
announcement at 7.00 a.m. today (the "Announcement"), it has
successfully completed the oversubscribed Placing and Subscription
which is now closed.
The Placing and Subscription has raised GBP6.0 million (gross)
through the placing of 266,666,667 new Ordinary Shares, all at an
Issue Price of 2.25 pence per share.
The net proceeds of the fundraising will be used to support
immediate and medium term commercial growth opportunities, in
particular within home fitness, artist monetisation, and social
media.
Admission and Total Voting Rights
The Placing and Subscription of the 266,666,667 new Ordinary
Shares is conditional on Admission, and is being carried out within
the Company's existing share authority to issue Ordinary Shares for
cash.
It is expected that the new Ordinary Shares will be admitted to
trading on AIM at 8.00 a.m. on or around 9 September 2020 (or such
later date as may be agreed between the Company and Arden, but no
later than 30 September 2020).
Following the Admission, the total number of Ordinary Shares in
the Company in issue will be 2,722,085,961. The Company holds no
Ordinary Shares in Treasury. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in the Company under the FCA's
Disclosure and Transparency Rules.
Tamir Koch, Chair of 7digital, said:
"We are delighted with the outcome of this successful,
oversubscribed fundraise and for the support we have received from
both existing shareholders and a substantial number of new
institutions. The proceeds not only secure the future of 7digital
but also set the business up for a sustained period of growth,
building on our leading global position in the expanding market of
B2B music streaming."
Paul Langworthy, CEO of 7digital, said:
"The Company has made exciting progress during 2020 securing new
contracts with Triller and the eMusic livestream platform and a
healthy pipeline of high-profile companies to capture key strategic
markets of social media, artist monetisation and home fitness. This
financing not only offers us greater investment and support to
fully capitalise on these trends, but an entrepreneurial
environment to leverage our leading technology platform to support
new models of music consumption that emerge."
Capitalised terms in this announcement shall have the meanings
given to such terms in the Announcement at 7.00 a.m. today.
For further information please contact
7digital Group plc 020 7099 7777
Paul Langworthy, CEO
Arden Partners (Nominated Adviser and Broker) 020 7614 5900
Richard Johnson, Benjamin Cryer
Luther Pendragon (Financial PR) 020 7618 9100
Harry Chathli, Joe Quinlan, Elliot Fradd
About 7digital ( www.7digital.com )
7digital is the global leader in B2B end-to-end digital music
solutions. The core of its business is the provision of robust and
scalable technical infrastructure and extensive global music rights
used to create music streaming and radio services for a diverse
range of customers - including consumer brands, mobile carriers,
broadcasters, automotive systems, record labels and retailers.
7digital also offers radio production and music curation services,
editorial strategy and content management expertise.
7digital fosters industry growth and innovation by simplifying
access to music for clients. From years of being the largest
independent producer of programming for the BBC and powering
services for partners like Soundtrack Your Brand, Global Eagle,
Grandpad and Fender, 7digital is perfectly positioned to lead
innovation at the intersection of digital music and next-generation
radio services.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ROIDZGGLNFDGGZG
(END) Dow Jones Newswires
September 03, 2020 03:46 ET (07:46 GMT)
7digital (LSE:7DIG)
Historical Stock Chart
From Mar 2024 to Apr 2024
7digital (LSE:7DIG)
Historical Stock Chart
From Apr 2023 to Apr 2024
