Future PLC Completion of Imagine Publishing acquisition (7556M)
18 October 2016 - 7:00AM
UK Regulatory
TIDMFUTR
RNS Number : 7556M
Future PLC
18 October 2016
18 October 2016
Future plc
Completion of Imagine Publishing acquisition
Future plc (LSE: FUTR, "the Group" or "Future"), the
international media group and leading digital business, announces
that the acquisition of Miura (Holdings) Ltd, the holding company
and ultimate parent company of Imagine Publishing Limited ("Imagine
Publishing") (the "Acquisition") is now unconditional in all
material respects and is expected to complete on 21 October
2016.
The total consideration payable, as detailed on 23 June 2016, is
179,567,841 new Future shares (the "Consideration Shares"), which
at Future's closing share price of 8.84 pence on 12 October 2016
represents a consideration of GBP15.9m.
As previously announced, upon completion James Hanbury will join
the Board as Deputy Chairman and will serve as the Disruptive
Capital appointee.
Zillah Byng-Thorne, Future Chief Executive said:
"The addition of Imagine, with its substantial portfolio of
magazines and bookazines which complement and expand our
capabilities, is a further significant step towards our strategy of
creating content that connects, increasing scale and improving
operational efficiency."
Applications have been made to the FCA and to the London Stock
Exchange, respectively, for the Consideration Shares to be admitted
to the standard segment of the Official List and to trading on the
London Stock Exchange's main market for listed securities.
Admission is the last condition to be satisfied for completion of
the Acquisition. It is expected that admission and completion will
occur at 8.00 a.m. on 21 October 2016. As the number of
Consideration Shares exceeds 10 per cent. of the Company's current
issued share capital, their issue and admission require that a
prospectus be published, this is expected to be available later
today on the company's website
(www.futureplc.com/invest-in-future/).
Following the allotment and admission of the Consideration
Shares the Company's share capital will consist of 548,408,719
ordinary shares of 1p each, each share carrying the right to one
vote. The Company does not hold any shares in treasury. Therefore
the total number of voting rights in Future plc will be
548,408,719.
The above figure may be used by shareholders as the denominator
for the calculations by which they can determine if they are
required to notify their interest in, or a change of their interest
in, the Company, under the FCA's Disclosure and Transparency
Rules.
Enquiries:
Future plc 01225 442 244
Zillah Byng-Thorne, Chief
Executive Officer
Penny Ladkin-Brand, Chief
Financial Officer
Numis 020 7260 1000
Nick Westlake/Mark Lander
Instinctif Partners 020 7457 2020
Adrian Duffield/Lauren Foster
Notes to editors
Future plc is an international media group and leading digital
publisher, listed on the London Stock Exchange (symbol: FUTR). The
Group operates two separately managed brand-led divisions: Media
and Magazine. The Group has a reach of 70m globally, including 47m
online users and 22m social media followers.
The Magazine division is brand-led. It has over 100
market-leading publications, with 10 key titles, and is seen as the
number one digital consumer magazine publisher in the UK.
The Media division focuses on being at the forefront of digital
innovation, in particular the high growth technology and games
markets, with three complementary revenue streams: e-commerce,
events and digital advertising. It has a number of leading brands
including Techradar, PC Gamer, GamesRadar+, The Photography Show,
Generate and Golden Joysticks.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
October 18, 2016 02:00 ET (06:00 GMT)