TIDMMVR
RNS Number : 3689O
MelodyVR Group PLC
08 February 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF MELODYVR GROUP PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
8(th) February 2021
MelodyVR Group PLC
(" MelodyVR " or the " Company ") ( LON : MVR )
PrimaryBid.com Offer
MelodyVR ( LON : MVR ), the AIM quoted leading music company and
operator of the MelodyVR and Napster platforms , who recently
announced its intention to change its name to Napster Group PLC is
pleased to announce, an offer via PrimaryBid (the "Offer") of new
ordinary shares of 1 p each in the Company ("New Ordinary Shares")
at an issue price of 3.3 pence per New Ordinary Share (the "Issue
Price"), being a discount of 8.33 per cent to the closing mid-price
on 5(th) February 2021. The Company is also conducting an issue and
subscription for Convertible Loan Notes totalling GBP6.48 million
("Loan Notes").
Application will be made to the London Stock Exchange for any
new Ordinary Shares issued pursuant to the PrimaryBid Offer to be
admitted to trading on AIM ("Admission"). Admission is expected to
occur on 8:00 a.m. on 12(th) February 2021.
The Company will use the funds raised by the Loan Notes and the
PrimaryBid Offer to support the development and launch of the new
integrated mobile app which will combine the best content and
functionality from both the Napster and MelodyVR businesses to
create a new music platform during the course of 2021.
Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the Offer by applying exclusively through the
www.PrimaryBid.com platform and the PrimaryBid mobile app available
on the Apple App Store and Google Play. PrimaryBid does not charge
investors any commission for this service.
The Offer, via the PrimaryBid.com platform, will be open to
individual and institutional investors from 4:31 p.m. on 8(th)
February 2021. The PrimaryBid Offer is expected to close no later
than 9:00 p.m. on 8(th) February 2021 . The PrimaryBid Offer may
close early if it is oversubscribed.
The Company in consultation with PrimaryBid reserves the right
to scale back any order at its discretion. The Company and
PrimaryBid reserve the right to reject any application for
subscription under the Offer without giving any reason for such
rejection.
No commission is charged to investors on applications to
participate in the Offer made through PrimaryBid. It is vital to
note that once an application for New Ordinary Shares has been made
and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid.com or the procedure for
applications under the Offer, visit www.PrimaryBid.com or call
PrimaryBid.com on +44 20 3026 4750.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
MelodyVR Group PLC email@melodyvr.group
Anthony Matchett, Group CEO
PrimaryBid Limited + 44 (0) 203 026
Charles Spencer / James Deal 4750
Arden Partners plc , Nominated Advisor and
Broker
Corporate Finance: Ruari McGirr / Ben Cryer +44 (0) 20 7614
Corporate Broking: Simon Johnson 5900
Details of the Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the Offer. The Company is therefore making the Offer
available exclusively through PrimaryBid.com.
The Offer is offered under the exemptions against the need for a
prospectus allowed under the Prospectus Rules. As such, there is no
need for publication of a prospectus pursuant to the Prospectus
Rules, or for approval of the same by the Financial Conduct
Authority in its capacity as the UK Listing Authority. The Offer is
not being made into any Restricted Jurisdiction or any other
jurisdiction where it would be unlawful to do so.
There is a minimum subscription of GBP100 per investor under the
terms of the Offer which is open to existing shareholders and other
investors subscribing via PrimaryBid.com.
Any investment request in excess of GBP50,000 will require the
Company's consent and may be subject to scale back.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com . The terms and conditions on which the Offer
is made, including the procedure for application and payment for
New Ordinary Shares, is available to all persons who register with
PrimaryBid.com.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
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END
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February 08, 2021 11:32 ET (16:32 GMT)
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