TIDMLBG

RNS Number : 1807H

LBG Media PLC

26 July 2023

 
   26 July 2023

LBG Media plc

(The "Company" or "Group")

Resignation of Chief Operating Officer

LBG Media, the UK-based multi-brand, multi-channel digital youth publisher, announces that Arian Kalantari has resigned as Chief Operating Officer and as a Director of the Company with immediate effect.

Arian has been on a sabbatical since the start of the year to spend more time with his family and has made the decision not to return to the Company. His operational responsibilities had therefore been distributed among colleagues and will now be permanently retained by those members of the Group's established and strong leadership team.

CEO, Solly Solomou, commented:

"On behalf of the Board and everyone at the Company, I would like to thank Arian for his support over the years, both in the terms of the vital contribution to the founding of the business and the years of success that have been achieved since. It has been a great pleasure to work side by side with my good friend and I wish him all the best and look forward to his continued support as a shareholder."

Arian Kalantari said:

"It has been an incredible journey to see this business grow and thrive over the last 11 years since Solly and I founded it. LBG Media is very well-positioned to continue to succeed in the years to come and I will remain a passionate supporter."

For further information please contact:

 
 LBG Media plc                                  Via Buchanan 
  Solly Solomou, Co-founder & CEO 
  Richard Jarvis, CFO 
  Mark Mochalski , Investor Relations 
  Fiona O'Nolan, Investor Relations              investors@ladbiblegroup.com 
 Zeus Capital Limited                           Tel: +44 (0) 161 831 
  (Nominated Adviser & Broker)                   1512 
  Dan Bate / Nick Cowles (Investment Banking)    www.zeuscapital.co.uk 
  Benjamin Robertson (Equity Capital Markets) 
 Media enquiries                               Tel: +44 (0) 20 7466 5000 
  Buchanan                                      www.buchanan.uk.com 
  Richard Oldworth / Chris Lane / Toto 
  Berger / Jack Devoy

Notes to editors

LBG Media is a multi-brand, multi-channel digital youth publisher and is a leading disrupter in the digital media and social publishing sectors. The Group produces and distributes digital content across a range of mediums including video, editorial, image, audio, and experience (virtual and augmented reality). Since its inception in 2012, the Group has curated a diverse collection of ten core specialist brands using social media platforms (primarily Facebook, Instagram, Snapchat, Twitter, YouTube and TikTok) and has built multiple websites to reach new audiences and drive engagement. Each brand is dedicated to a distinct popular interest point (e.g. sport, gaming etc.), which is designed to achieve broader engagement, increase relevance and ultimately build a loyal community of followers.

The Group operates two core routes to market: Direct revenue, which is principally generated from the provision of content marketing services to corporates, brand owners, marketing agencies and other entities such as government bodies and where the relationship with the client is held directly by LBG Media; and Indirect revenue, which is generated via a third-party, such as a social media platform or via a programmatic advertising exchange / online marketplace, which holds the relationship with the brand owner or agency.

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(END) Dow Jones Newswires

July 26, 2023 02:01 ET (06:01 GMT)

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