One Media iP Group Plc Subscription and proposed director appointments

 
TIDMOMIP 
 
18 December 2017 at 7am 
 
                            One Media iP Group Plc 
 
                  ("One Media", the "Group" or the "Company") 
 
       Subscription, issue of equity and proposed director appointments 
 
Investment by Lord Michael Grade and Ivan Dunleavy, designate non-executive 
directors 
 
One Media iP Group Plc (AIM: OMIP), a digital media content provider that 
exploits intellectual property rights around music, video and copyright 
technology, is pleased to announce an equity investment totalling GBP375,000 
gross in the Company by Lord Michael Grade and Ivan Dunleavy, and their 
proposed appointment as Non-executive Directors. 
 
Lord Grade said: "I firmly believe the music industry has turned a corner - led 
by streaming services, which are seen as the basis of future growth by content 
owners. One Media is a very accomplished business with strong credentials, and 
we share the management team's view of the music business' development. I look 
forward to working closely with them and using my experience to add value and 
expedite the scale up of the business." 
 
"Our investment is a gesture of our firm commitment and a demonstration of our 
belief in One Media's future prospects," added Ivan Dunleavy. "We have a 
long-established relationship with Michael Infante and are impressed with how 
he has run this company and developed an excellent reputation in this industry. 
With music streaming set to grow, not only will this company benefit from sales 
of its portfolio of digital content, it is also able to provide a vital service 
to copyright owners through its in-house developed proprietary software, TCAT, 
which tracks and monitors where their music is made available for sale. We look 
forward to working with the One Media's team to build on the strong foundations 
and advancing to the next stage of development." 
 
One Media is an owner and provider of digital music and video content. The 
Group operates in the $4.6bn global music streaming market, which Goldman Sachs 
analysts predict will grow to $28bn by 2030. In the UK alone, PwC estimate that 
digital music streaming will generate GBP520m this year and grow by a CAGR of 
approximately 22% to over GBP1bn by 2021, when it will account for 93% of all 
digital recorded music revenue. The Company has a catalogue of over 250,000 
nostalgic music tracks from a range of genres from Soul to classical music and 
rock to pop from over the last 50 years, including artists such as Ricky 
Valance, Evelyn Thomas, Anita Harris, The Tremeloes, the Troggs and Marv 
Johnson. One Media looks to exploit its music tracks and over 10,000 hours of 
video by recompiling the content for sale through more than 600 digital music 
and video store groups worldwide such as iTunes, Spotify, Amazon and YouTube. 
In addition, its library of content is available for TV shows, movies, adverts 
and websites requiring synchronised music. One Media acquired the entire assets 
of Men & Motors from Granada/ITV in 2012 and now exploits the 3400 shows on 
YouTube and is looking to rework the format back to digital TV broadcast in the 
future. 
 
Michael Infante, Chairman and Chief Executive of One Media, commented: "I am 
delighted to welcome Ivan Dunleavy and Lord Grade as investors into One Media. 
I am also excited by the wealth of experience that this will bring to the 
Company following their proposed appointment as non-executive directors. They 
have an exceptional track record, both individually and combined, with their 
partnership at Pinewood Studios overseeing a more-than fivefold increase in the 
value of that business. In 2018, both the music industry and One Media are 
poised to benefit from an uplift in the monetisation of content through 
streaming and we will also extend our reach with exciting initiatives such as 
TCAT. As a result, this is an opportune moment for us to appoint Ivan and 
Michael and to leverage their expertise." 
 
Proposed appointment of Directors 
 
Following the completion of the requisite regulatory procedures, Lord Michael 
Grade and Ivan Dunleavy will be appointed as Non-executive Directors of the 
Company. 
 
Lord Michael Grade 
 
Lord Michael Grade has had a distinguished career as a television executive and 
businessman. His experience in broadcasting has encompassed leading roles at 
London Weekend Television, Channel 4 Television, the BBC and ITV as well as 
being the Chairman of Pinewood Group plc, Europe's largest provider of stage 
and studio space. 
 
Ivan Dunleavy 
 
Ivan Dunleavy's career in media spans more than 35 years, including 17 years as 
Chief Executive Officer of Pinewood Group. Prior to Pinewood, he was Chief 
Executive Officer of VCI plc, an audio-visual and audio publishing group. 
 
A further announcement will be made upon completion of the requisite regulatory 
procedures. 
 
Subscription and Total Voting Rights 
 
The Company has raised GBP375,000 gross via a subscription for 15,000,000 new 
ordinary shares ("Subscription Shares") in the Company at a price of 2.5 pence 
per share as set out below:- 
 
Subscriber name       Number of             % held of 
                      Subscription Shares   enlarged issued 
                                            share capital 
 
Lord Michael Grade    7,500,000             8.715% 
 
Ivan Dunleavy         7,500,000             8.715% 
 
Application has been made to the London Stock Exchange for the 15,000,000 
Subscription Shares to be admitted to trading on AIM ("Admission"). Admission 
is expected to occur on or around 21 December 2017. The Subscription Shares 
will rank pari passu with the Company's existing ordinary shares. 
 
Following Admission of the Subscription Shares, the total number of ordinary 
shares in issue will be 86,053,698. The Company does not hold any shares in 
treasury. This figure may be used by shareholders in the Company 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 
share capital of the Company under the Financial Conduct Authority's Disclosure 
Guidance and Transparency Rules. 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014. 
 
For further information, please contact: 
 
One Media iP Group Plc 
 
Michael Infante, Chairman and Chief Executive     [phone] 
Alice Dyson-Jones, Communications                 [phone] 
 
Cairn Financial Advisers LLP (Nominated Adviser) 
 
Liam Murray, Jo Turner                            [phone] 
 
Panmure Gordon (UK) Ltd (Broker) 
 
Karri Vuori, James Stearns                        [phone] 
 
Luther Pendragon Ltd (Financial PR) 
 
Harry Chathli, Claire Norbury                     [phone] 
 
Notes to Editors 
 
Based at Pinewood Studios, One Media is an 'intellectual property' (IP) owner 
and/or controller of rights within the digital arena concerning music, video 
and digital distribution. It is a B2B (business-to-business) operation, that is 
consumer led which looks to exploit its catalogue of over 250,000 music tracks 
and over 10,000 hours of video by recompiling its content for download, 
streaming and sub licensing through over 600 digital music and video stores 
worldwide. 
 
The Group has a team of Creative Technicians, all of whom are YouTube 
certified, who digitise the content, create the metadata, re-compile and 
prepare the digital music & video releases using bespoke in-house developed 
software. Additionally, One Media makes its library of content available for TV 
shows, movies, adverts and websites requiring synchronised music. One Media 
focuses on music performed by well-known artists from every genre, including 
pop, rock, reggae, R&B, children's music, karaoke, jazz, soul, blues, rap, 
hip-hop, gospel and world-music, plus stand-up comedy and spoken-word. In July 
2014 the Group acquired, for a consideration of USD$1.6m, the Point Classics 
classical music library bringing the number to over 10,000 classical tracks now 
available to the Group for exploitation. The Group owns all the rights to the 
Men & Motors (originally Granada/ITV) TV shows originally aired on British TV 
between 1996 and 2010. Comprising over 3,500 shows, Men & Motors is available 
for viewing on the Group's YouTube Channel. 
 
Recently the Group has developed a content discovery and policing software 
service, 'Technical Copyright Analysis Tool' (TCAT), as a new service to record 
companies, publishers and law firms searching information of artists and tracks 
on legitimate digital stores. One Media has been previously eligible for 
Enterprise Investment Schemes ("EIS") and Venture Capital Trusts ("VCT"). 
 
 
 
END 
 

(END) Dow Jones Newswires

December 18, 2017 02:00 ET (07:00 GMT)