TIDMDBOX
RNS Number : 7109A
Digitalbox PLC
27 September 2022
27 September 2022
Digitalbox plc
("Digitalbox", the "Group" or the "Company")
Unaudited interim results for the six months ended 30 June
2022
FY2022 outlook broadly in line with market expectations
Digitalbox plc, the mobile-first digital media business, which
owns leading websites Entertainment Daily, The Daily Mash and The
Tab today publishes its interim results for six months to 30 June
2022 (the "First Half", the "Period", or "H1 2022").
Financial Highlights
H1 2022 H1 2021 Variance
GBPm GBPm
-------- -------- ---------
Group revenue 1.88 1.34 +40%
-------- -------- ---------
Gross profit 1.64 1.13 +46%
-------- -------- ---------
Adjusted operating profit* 0.66 0.29 +126%
-------- -------- ---------
Cash generated from operations 0.74 0.21 +260%
-------- -------- ---------
Gross cash balance 2.80 2.04 +37%
-------- -------- ---------
Net cash balance 2.43 1.55 +57%
-------- -------- ---------
Gross margin 87% 84% +3ppts
-------- -------- ---------
Adjusted operating profit
margin* 35% 22% +13ppts
-------- -------- ---------
*Adjusted operating profit is stated before depreciation,
amortization, impairment of goodwill and intangible assets and
share based payment charges.
Operational Highlights
-- Increased advertiser demand for high-quality audiences on
mobile continues to fuel strong session values.
-- Entertainment Daily session volumes (traffic) up 46%.
-- The Tab session values up 57%.
-- The Daily Mash Premium content offering introduced to drive direct consumer revenues.
-- The Tab, benefiting from Digitalbox's Graphene platform,
continued to deliver operating profit every month in the period and
has now fully repaid its acquisition cost.
-- The acquisition of the web and mobile platform assets of
TVGuide.co.uk Limited, announced in May 2022, is expected to
complete in the second half of FY 2022 as scheduled.
-- Administration costs excluding the non-cash charges of
depreciation, impairment and share based payment costs are up 17%
due to investments in technical, commercial and content
resources.
Outlook
-- Full year results to 31 December 2022 will be broadly in line with market expectations.
James Carter, CEO, Digitalbox plc, said: "We are pleased with
the performance of the business in the first six months of the
year. This was achieved in part due to the commercial
transformation of The Tab, our focus on mobile publishing, and
Entertainment Daily's editorial team successfully maximising user
engagement across all channels. This strong first-half performance
and our optimised operating model, mean we are confident that we
can cope with the economic headwinds expected to impact global
advertising revenues in the second half. We believe we can
strengthen the Company's position as we plan to bring TV Guide on
board and we are confident that trading for the full year 2022 will
be broadly in line with market expectations."
Certain information contained in this announcement would have
constituted inside information (as defined by Article 7 of
Regulation (EU) No 596/2014) ("MAR") prior to its release as part
of this announcement and is disclosed in accordance with the
Company's obligations under Article 17 of MAR.
Enquiries:
Digitalbox c/o SEC Newgate
James Carter, CEO
Panmure Gordon Tel: 020 7886 2500
(Nominated Adviser, Financial Adviser & Joint
Broker )
Alina Vaskina / James Sinclair-Ford (Corporate
Advisory)
Rupert Dearden (Corporate Broking)
Alvarium Capital Partners (Joint Broker) Tel: 020 7195 1400
Alex Davies / Hugh Kingsmill Moore
SEC Newgate (Financial Communications) Tel: 020 3757 6880
Robin Tozer / Moly Gretton / Max Richardson digitalbox@secnewgate.co.uk
About Digitalbox plc
Based in Bath, UK, Digitalbox is a 'pure-play' digital media
business with the aim of profitable publishing at scale on mobile
platforms.
Digitalbox operates three trading brands, "Entertainment Daily",
"The Tab" and "The Daily Mash". Entertainment Daily produces and
publishes online UK entertainment news covering TV, showbiz and
celebrity news. The Daily Mash produces and publishes satirical
news content. The Tab is the UK's biggest youth culture site fueled
by students.
Digitalbox generates revenue from the sale of advertising in and
around the content it publishes. The Group's optimisation for
mobile enables it to achieve revenues per session significantly
ahead of market norms for publishers on mobile.
InteriM Statement
Overview
The performance of the Group in the first six months of the year
has been strong and exceeded our expectations. As a result of the
high volumes of traffic on Entertainment Daily and the continued
improvement in the monetisation of The Tab, revenues have increased
40% period on period to GBP1.9 million. More importantly,
Digitalbox reports adjusted operating profit of GBP0.7 million
which is significantly ahead of management expectations.
Furthermore, the gross cash balance has increased from GBP2.2
million as at 31 December 2021 to GBP2.8 million as at 30 June
2022.
Operating Review
The two factors that drive revenue are the volume and value of
advertising. The volume is reflected in the number of visits (or
sessions) that the Group's websites receive from users that come to
read our content. The value is the price advertisers pay to reach
these users during these sessions. The number of visits to the
Group's websites increased significantly in H1, predominantly due
to solid editorial success through our biggest brand, Entertainment
Daily. While we anticipated advertiser demand softening due to the
energy and cost of living crisis, combined with the Ukraine war,
competition for high-quality mobile inventory continued to deliver
strong session values across the period.
The delivery of the Group's strategy has progressed considerably
year on year as the total audience across the business has again
grown significantly. Entertainment Daily, which is focused on TV
and show business news, had an exceptionally strong six months,
with the number of visits up 46% on the same period last year.
The Daily Mash saw its content offering strengthen with the
launch of 'Mash Premium', the new paid subscriber-only area, which
has already gained 1,000 members so far with limited promotion,
hence we are excited about the prospects for growth of the
subscription model. As well as the introduction of the Mash Premium
channel, the production of a new series of The Daily Mash's
successful spin-off TV show Late Night Mash has commenced, with
Rachel Parris confirmed as the new host. The first episode aired on
Dave on 1 September 2022, with a further seven episodes released in
the season.
The Tab has continued to deliver, contributing a profit each
month since we acquired it in October 2020, and has now
successfully repaid all the acquisition costs. With the site
holding its position at around 50m visits for the period, we
continued to see significant year-on-year revenue growth of 52% for
the period as a result of the Graphene ad stack being deployed; a
model of the Company's approach to acquisition identification and
integration.
Looking ahead, the acquisition of the web and mobile platform
assets of TVGuide.co.uk Limited, announced in May 2022, is expected
to complete in the second half of FY 2022 as scheduled. The Company
then intends to focus on integrating these assets onto the
Company's Graphene technology platform. As with The Tab, the Board
expects this to enhance the site's revenue performance and
profitability.
Financial review
The Directors are pleased to report strong absolute growth in
revenues with a period-on-period uplift of 40% to GBP1.9 million,
driven by high volumes of traffic on Entertainment Daily and the
continued improvement in the monetisation of The Tab.
Further, gross margins are up from 84% last period to 87% this
period serving to highlight the high efficiency of successful
digital media businesses like Digitalbox. This efficiency is
growing due to the continued improvement to the monetisation on The
Tab and the low scaling costs of servicing the increased traffic on
Entertainment Daily.
With adjusted operating profit of GBP0.7 million, which is the
true cash generating indicator for the business, gross cash has
grown from GBP2.2 million at the end of December 2021 to GBP2.8
million at the end of June 2022. For context, gross cash at bank on
23 September 2022 was GBP3.2m, up 45% since 31 December 2021.
Given the development of The Daily Mash from a straight
advertising-funded model to a hybrid subscription and advertising
model, we have taken the cautious step of writing off the carrying
value of goodwill and intangible asset associated with this brand.
As a non-cash, one-off financial accounting adjustment, this does
not affect the strong cash generating characteristics of the
business.
DIGITALBOX PLC
INTERIM CONSOLIDATED INCOME STATEMENT
for the six months ended 30 June 2022
Unaudited Unaudited Audited
Notes Six months Six months 12 months
to to to
30 June 22 30 June 21 31 December
21
GBP'000 GBP'000 GBP'000
Continuing Operations
Revenue 1,877 1,345 3,667
Cost of sales (235) (219) (529)
__________ __________ __________
Gross profit 1,642 1,126 3,138
Administrative expenses (1,858) (1,028) (2,508)
Other operating income - 5 10
__________ __________ __________
Operating (loss)/profit (216) 103 640
"Adjusted operating profit" being
operating profit before exceptional
charges, amortisation and depreciation 663 294 1,029
Depreciation (3) (15) (31)
Amortisation (121) (105) (215)
Impairment on goodwill and (716) - -
intangible assets
Share based payment charge (39) (71) (143)
__________ __________ __________
Operating (loss)/profit (216) 103 640
-------------------------------------- ------ -------------- -------------- --------------
Finance income 1 1 1
Finance costs (5) (5) (14)
__________ __________ __________
(Loss)/profit before taxation (220) 99 627
Tax charge 6 (8) (231)
__________ __________ __________
(Loss)/profit for the period
from continuing operations (214) 91 396
TOTAL INCOME FOR THE PERIOD (214) 91 396
============= ============= =============
OTHER COMPREHENSIVE INCOME - - -
FOR THE PERIOD
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD (214) 91 396
============= ============= =============
Earnings p er share 4
Pence Pence Pence
Basic EPS from continuing operations (0.18) 0.08 0.34
__________ __________ __________
Diluted EPS from continuing
operations (0.18) 0.08 0.34
__________ __________ __________
DIGITALBOX PLC
INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the six months ended 30 June 2022
Share Share Premium Share based Retained Total
Capital reserve payment earnings
reserve
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Balance at 1 January
2021 1,163 11,149 321 (99) 12,534
Total comprehensive expense
for the period - - - 91 91
Share based payment charge - - 71 - 71
_____ _____ _____ _____ _____
Balance at 30 June 2021 1,163 11,149 392 (8) 12,696
Total comprehensive expense
for the period - - - 305 305
Share based payment charge - - 72 - 72
_____ _____ _____ _____ _____
Balance at 31 December
2021 1,163 11,149 464 297 13,073
Total comprehensive income
for the period - - - (214) (214)
Issue of new shares 16 19 - - 35
Share based payment charge - - 39 - 39
_____ _____ _____ _____ _____
Balance at 30 June 2022 1,179 11,168 503 83 12,933
_____ _____ _____ _____ _____
DIGITALBOX PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
as at 30 June 2022
Unaudited Unaudited Audited
Notes 30 June 22 30 June 21 31 December
21
GBP'000 GBP'000 GBP'000
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment 5 18 61 46
Intangible assets 6 9,960 10,741 10,710
______ ______ _______
TOTAL NON-CURRENT ASSETS 9,978 10,802 10,756
______ ______ _______
CURRENT ASSETS
Trade and other receivables 1,046 951 1,770
Cash and cash equivalents 2,805 2,042 2,186
______ ______ _______
TOTAL CURRENT ASSETS 3,851 2,993 3,956
______ ______ _______
TOTAL ASSETS 13,829 13,795 14,712
______ ______ _______
LIABILITIES
CURRENT LIABILITIES
Trade and other payables 95 269 739
Lease liabilities - 28 112
Bank loans 94 71 29
Corporation tax payable 288 55 163
_______ _______ ________
TOTAL CURRENT LIABILITIES 477 423 1,043
_______ _______ ________
NON-CURRENT LIABILITIES
Lease liabilities - 17 2
Bank loans 281 423 319
Deferred tax 138 236 275
_______ _______ ________
TOTAL NON-CURRENT LIABILITIES 419 676 596
_______ _______ ________
TOTAL LIABILITIES 896 1,099 1,639
TOTAL NET CURRENT ASSETS 3,374 2,570 2,913
_______ _______ ________
TOTAL NET ASSETS 12,933 12,696 13,073
_______ _______ ________
CAPITAL AND RESERVES
ATTRIBUTABLE TO EQUITY SHAREHOLDERS
Issued share capital 7 1,179 1,163 1,163
Share premium account 11,168 11,149 11,149
Share based payment reserve 503 392 464
Retained earnings 83 (8) 297
_______ _______ ________
12,933 12,696 13,073
_______ _______ ________
DIGITALBOX PLC
CONSOLIDATED CASH FLOW STATEMENT
for the six months ended 30 June 2022
Unaudited Unaudited Audited
Six months Six months Period to
to to
30 June 22 30 June 21 31 December
21
GBP'000 GBP'000 GBP'000
OPERATING ACTIVITIES
(Loss)/profit from ordinary activities (214) 91 396
Adjustments for:
Income tax expense (6) 8 231
Share based payment charge 39 71 143
Amortisation of intangibles 121 105 215
Impairment on goodwill and intangible 716 - -
assets
Depreciation on property, plant and
equipment 3 15 31
Finance costs 5 5 14
Finance income (1) (1) (1)
_____ _____ _____
Cash flows from operating activities
before changes in working capital 663 294 1,029
Decrease/(increase) in trade and other
receivables 718 96 (723)
(Decrease)/increase in trade and other
payables (644) (185) 280
_____ _____ _____
Cash generated by operations 737 205 586
Income tax paid - - (76)
_____ _____ _____
Cash generated by operating activities 737 205 510
_____ _____ _____
INVESTING ACTIVITIES
Purchase of property, plant and equipment (6) - (2)
Purchase of intangible assets (87) (7) (86)
Proceeds on the sale of property, plant 31 - -
and equipment
Finance income 1 1 1
_____ _____ _____
Cash used in investing activities (61) (6) (87)
_____ _____ _____
FINANCING ACTIVITIES
Proceeds from share issues 35 - -
Finance costs - - (4)
Bank loan repayments (61) - -
Finance lease repayments (31) (10) (86)
_____ _____ _____
Cash used in financing activities (57) (10) (90)
--------------- --------------- ---------------
INCREASE IN CASH AND CASH EQUIVALENTS 619 189 333
Cash and cash equivalents brought forward 2,186 1,853 1,853
_____ _____ _____
CASH AND CASH EQUIVALENTS CARRIED FORWARD 2,805 2,042 2,186
_____ _____ _____
Represented by:
Cash at bank and in hand 2,805 2,042 2,186
======== ======== ========
DIGITALBOX PLC
NOTES TO THE INTERIM REPORT
for the six months ended 30 June 2022
1. Corporate information
The interim consolidated financial statements of the group for
the period ended 30 June 2022 were authorised for issue in
accordance with a resolution of the directors on 26 September 2022.
Digitalbox plc ("the company") is a Public Limited Company listed
on AIM, incorporated in England and Wales. The interim consolidated
financial statements do not comprise statutory accounts within the
meaning of section 434 of the Companies Act 2006.
2. Statement of Accounting policies
2.1 Basis of Preparation
The entities consolidated in the half year financial statements
of the company for the six months to 30 June 2022 comprise the
company and its subsidiaries (together referred to as "the
group").
The interim consolidated financial statements do not include all
the information and disclosures required in the annual financial
statements.
The directors are satisfied that, at the time of approving the
consolidated interim financial statements, it is appropriate to
adopt a going concern basis of accounting and in accordance with
the recognition and measurement principles of International
Financial Reporting Standards adopted for use in the United Kingdom
("IFRS"). In reaching this conclusion the directors have considered
the financial position of the Group, its cash, liquidity position
and borrowing facilities together with its forecasts and
projections for a period in excess of 12 months from the date of
approval. At the reporting date the Group had GBP2.8m of cash at
bank and in hand providing a strong position to support the
continued and future success of the Group.
2.2 Accounting Policies
The principal accounting policies adopted in the preparation of
the financial statements are set out below. The policies have been
consistently applied to all the years presented, unless otherwise
stated.
The interim results announcement has been prepared in accordance
with International Financial Reporting Standards ("IFRS"),
International Accounting Standards and Interpretations issued by
the International Accounting Standards Board as adopted by the
United Kingdom ("IFRSs") and with those parts of the Companies Act
2006 applicable to companies preparing their accounts under IFRSs.
The consolidated financial statements have been prepared under the
historical cost convention.
The preparation of these consolidated half year financial
statements requires management to make judgements, estimates and
assumptions that affect the application of accounting policies and
the reported amounts of assets and liabilities, income and expense.
Actual results may differ from these estimates in preparing these
consolidated half year financial statements.
3. Segment Information
The Group's primary reporting format for segment information is
business segments which reflect the management reporting structure
in the Group and of its two core media assets.
Unaudited six months to 30 June 2022
Entertainment The Daily The Tab Head Office Total
Daily Mash Six months
to 30 June
2022
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue 1,282 82 513 - 1,877
Cost of sales (106) (88) (41) - (235)
Admin expenses* (261) (43) (187) (488) (979)
Other operating - - - - -
income
---------------- ---------------- ---------------- ---------------- --------------------
Adjusted
operating
profit/(loss) 915 (49) 285 (488) 663
Amortisation,
depreciation
and impairment -) (777) (44) (19) (840)
Share based
payment
charge -) -) -) (39) (39)
Finance income -) -) -) 1 1
Finance costs - - - (5) (5)
Tax -) -) -) 6 6
---------------- ---------------- ---------------- ---------------- --------------------
Profit/(loss)
for
the period 915 (826) 241 (544) (214)
---------------- ---------------- ---------------- ---------------- --------------------
Unaudited six months to 30 June 2021
Entertainment The Daily The Tab Head Office Total
Daily Mash Six months
to 30 June
2021
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue 917 95 333 - 1,345
Cost of sales (105) (84) (30) - (219)
Admin expenses* (221) (39) (142) (435) (837)
Other operating
income - - - 5 5
---------------- ---------------- ---------------- ---------------- --------------------
Adjusted
operating
profit/(loss) 591 (28) 161 (430) 294
Amortisation
and
depreciation - (61) (44) (15) (120)
Share based
payment
charge - - - (71) (71)
Finance income - - - 1 1
Finance costs - - - (5) (5)
Tax - - - (8) (8)
---------------- ---------------- ---------------- ---------------- --------------------
Profit/(loss)
for
the period 591 (89) 117 (528) 91
---------------- ---------------- ---------------- ---------------- --------------------
3. Segment Information (continued)
12 months to 31 December 2021
Entertainment The Daily The Tab Head Office Total
Daily Mash Year to
31 December
2021
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue 2,463 308 896 - 3,667
Cost of sales (205) (171) (153) - (529)
Admin expenses* (474) (86) (287) (1,272) (2,119)
Other operating
income - - - 10 10
---------------- ---------------- ---------------- ---------------- --------------------
Adjusted
operating
profit/(loss) 1,784 51 456 (1,262) 1,029
Amortisation
and
depreciation - (122) (88) (5) (215)
Acquisition and
listing
costs - - - (31) (31)
Capital
restructure
costs - - - (143) (143)
Share based
payment
charge - - - 1 1
Finance costs - - - (14) (14)
Tax - - - (231) (231)
---------------- ---------------- ---------------- ---------------- --------------------
Profit/(loss)
for
the period 1,784 (71) 368 (1,685) 396
---------------- ---------------- ---------------- ---------------- --------------------
* Admin expenses exclude share based payment charges,
amortisation, depreciation, impairment charges and acquisition and
listing costs.
External revenue by location of customer
Six months Six months Year to 31
to 30 June to 30 June December
2022 2021 2021
GBP'000 GBP'000 GBP'000
United Kingdom 310 572 1,683
Europe 810 313 665
Rest of World 757 460 1,319
________ ________ ________
Total 1,877 1,345 3,667
________ ________ ________
4. Earnings per share
The calculation of the group basic and diluted loss per ordinary
share is based on the following data:
Unaudited Unaudited Audited
Six months Six months 12 months
to to to
30 June 22 30 June 31 December
21 21
GBP'000 GBP'000 GBP'000
The earnings per share is based
on the following:
Continuing earnings post tax
(loss)/profit attributable to
shareholders (214) 91 396
========== ========== ==========
Basic Weighted average number
of shares 117,516,820 116,332,457 116,332,457
Diluted Weighted average number
of shares 120,525,628 116,332,457 118,297,010
========== ========== ==========
pence pence pence
Basic earnings per share (0.18) 0.08 0.34
Diluted earnings per share (0.18) 0.08 0.34
========== ========== ==========
Earnings per ordinary share has been calculated using the
weighted average number of shares in issue during the relevant
financial periods. IAS 33 requires presentation of diluted EPS when
a company could be called upon to issue shares that would decrease
earnings per share or increase the loss per share.
5. Tangible Assets
IFRS 16 Office equipment
Right-of-Use
Asset Total
GBP'000 GBP'000 GBP'000
Cost
At 1 January 2022 56 29 85
Additions - 5 5
Disposals (56) (2) (58)
_____ _____ _____
At 30 June 2022 - 32 32
Depreciation
At 1 January 2022 25 14 39
Charge for the period - 3 3
Depreciation on disposal (25) (2) (27)
_____ _____ _____
At 30 June 2022 - 15 15
_____ _____ _____
Net book value
30 June 2022 - 17 17
_____ _____ _____
31 December 2021 31 15 46
_____ _____ _____
6. Intangible Assets
Other Intangible Goodwill Development
Assets arising costs
on consolidation Total
GBP'000 GBP'000 GBP'000 GBP'000
Cost
At 1 January 2022 1,476 9,610 121 11,207
Additions - - 87 87
_____ _____ _____ _____
At 30 June 2022 1,476 9,610 208 11,294
Amortisation
At 1 January 2022 458 - 39 497
Charge for the period 105 - 16 121
Impairment losses 395 321 - 716
_____ _____ _____ _____
At 30 June 2022 958 321 55 1,334
_____ _____ _____ _____
Net book value
30 June 2022 518 9,289 153 9,960
_____ _____ _____ _____
31 December 2021 1,018 9,610 82 10,710
_____ _____ _____ _____
The other intangible assets are being amortised over a period of
7 years and development costs are being amortised over 3 years on
completion of the project.
Amortisation is charged to administrative costs in the Statement
of Comprehensive Income.
The impairment losses relate to The Daily Mash. The Directors
have taken a cautious view and written off the carrying value of
goodwill and intangible asset of this brand as the underlying
revenue model is changing from purely advertising based to a hybrid
advertising and subscription based model.
7. Share capital
Allotted, issued and No. Value
fully paid GBP'000
Ordinary shares of
0.01p each 117,923,398 1,179
--------------------------- -------------------------
Total 117,923,398 1,179
============= ============
1,590,936 shares were issued in the 6-month period to 30 June
2022 for cash consideration of GBP36k giving rise to an increase in
share premium of GBP20k.
8. Related party transactions
At 30 June 2022, the Group was due GBPnil (30 June 2021:
GBP171k, 31 December 2021: 171k) from James Carter and Jim Douglas,
two Directors of the company, the loans having been repaid in full
on 31 March 2022.
During the period, Integral 2 Limited charged GBP37k (6 months
to 30 June 2021: GBP26k, 12 months to 31 December 2021: GBP53k) to
the Group, a company related by virtue of David Joseph, a member of
key management personnel, having control over the entity. As at 30
June 2022, GBP5k (30 June 2021: GBP5k, 31 December 2021: GBP5k) was
owed to Integral 2 Limited. On 22 June 2022 David Joseph acquired
600,000 shares in the company through an investment vehicle.
During the period, M Capital Investment Partners (Holdings)
Limited billed GBP12.5k (6 months to 30 June 2021: GBP12.5k, 12
months to 31 December 2021: GBP23k) to the Group, a company related
by virtue of Martin Higginson, a member of key management
personnel, having control over the entity. As at 30 June 2022,
GBPnil (30 June 2021: GBPnil, 31 December 2021: GBP2.5k) was owed
to M Capital Investment Partners (Holdings) Limited. On 16 February
2022 Martin Higgi nson exercised his warrants in a subsidiary
company which triggered an issue of 1,590,936 new ordinary shares
of 1p each in the capital of the company by way of consideration
for the exercise of warrants in that subsidiary. The effective
exercise price of the warrants was 2.28p per share. He subsequently
disposed of these shares on 21 February 2022.
Sir Robin Miller resigned as a Director of Digitalbox plc on the
17 February 2021. During the period, Robin Miller Consultants
Limited billed GBP5k (6 months to 30 June 2021: GBP6k, 12 months to
31 December 2021: GBP11k) to the Group, a company related by virtue
of Robin Miller, a former member of key management personnel,
having control over the entity. As at 30 June 2022, GBP1k (30 June
2021: GBPnil, 31 December 2021: GBP1.7k) was owed to Robin Miller
Consultants Limited.
The key management personnel are considered to be the Board of
Directors, and were remunerated GBP192k in the period (6 months to
30 June 2021: GBP196k, 12 months to 31 December 2021: GBP715k).
The key management personnel hold 3,008,808 share options all of
which vested on the 28 February 2022 resulting in a charge of
GBP17k in the period (6 months to 30 June 2021: GBP50k, 12 months
to 31 December 2021: GBP100k). Other personnel that are not
considered to be key management hold 3,008,718 share options
resulting in a charge of GBP22k in the period (6 months to 30 June
2021: GBP21k, 12 months to 31 December 2021: GBP43k).
9. Seasonality
The Group's activities are not subject to significant seasonal
variation outside the normal parameters of a consumer media
business.
10. Events after the interim period
There were no reportable events after the interim period.
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
IR EAPNKAFXAEFA
(END) Dow Jones Newswires
September 27, 2022 02:01 ET (06:01 GMT)
Digitalbox (LSE:DBOX)
Historical Stock Chart
From Apr 2024 to May 2024
Digitalbox (LSE:DBOX)
Historical Stock Chart
From May 2023 to May 2024