ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

CNIC Centralnic Group Plc

123.20
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Centralnic Group Plc LSE:CNIC London Ordinary Share GB00BCCW4X83 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 123.20 123.20 123.60 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

CentralNic Group PLC Placement of bond issue and Trading Update (1100D)

24/06/2019 7:01am

UK Regulatory


Centralnic (LSE:CNIC)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Centralnic Charts.

TIDMCNIC

RNS Number : 1100D

CentralNic Group PLC

24 June 2019

This announcement contains inside information.

24 June 2019

CentralNic Group plc

("CentralNic" or "the Company" or "the Group")

Successful placement of debut EUR50m senior secured bond issue

and

Trading Update

CentralNic Group PLC (AIM: CNIC), the internet platform that derives revenue from the worldwide sales of internet domain names, is pleased to announce the successful placement of senior secured debt and strong trading for the first four months of the financial year.

Successful placement of debut EUR50m senior secured bond issue

On 23 May 2019, CentralNic announced that it had mandated Pareto Securities to arrange a series of fixed income investor meetings to potentially issue a 4-year senior secured non-convertible bond of approximately EUR50m.

The Company has now successfully completed a new senior secured bond issue of EUR50m (c.$56.8m USD as of 21 June 2019) which was oversubscribed. The bond which matures in July 2023, has a coupon of three-month EURIBOR* plus 7% p.a. with quarterly interest payments. Pareto Securities acted as Sole Bookrunner for the bond issue. CentralNic was advised by Rothschild & Co in connection with the bond issue..

   --    *With a floor at zero per cent 

The settlement date for the bond issue is expected to be in early July 2019. Following settlement, the Company will use these funds to repay existing interest-bearing liabilities and to fund the acquisition of the Sydney-based business TPP Wholesale, the leading platform for resellers of domain names and hosting in Australasia, for a headline consideration of $24m AUD (c.$16.6m USD as of 21 June 2019). TPP Wholesale's revenues and EBITDA for the financial year ended 31 December 2018 were $17.0m AUD (c.$12.7m USD) and $3.9m AUD (c.$2.9m USD), respectively, on an unaudited basis.

An application will be made for the bonds to be listed on the Oslo stock exchange.

Trading Update

Trading for the first four months of 2019 has been strong and management therefore expect full year results to be ahead of market consensus. For the four month period ending 30 April 2019 CentralNic had recorded revenues of c.$33.8m USD (c.$9.0m USD for the same period in 2018) and EBITDA of c.$5.4m USD (c.$0.4m for the same period in 2018). Net debt, excluding prepaid charges, stood at c.$7.4m USD as of 30 April 2019. The Company has changed its reporting currency to US dollars for 2019, as announced on 26 September 2018.

Ben Crawford, CentralNic CEO commented:

"We are delighted to have completed our debut bond issue, which was oversubscribed and supported by a wide range of debt capital markets investors globally. This establishes CentralNic as an issuer and, in combination with our strong support among equity market investors, offers us considerable financial flexibility, over the medium term, to pursue our strategic growth objectives.

"Meanwhile, the pleasing organic growth of our existing recurring business continues to provide a solid basis to include this increased leverage into our financial structure - allowing us to continue making earnings accretive acquisitions while maintaining prudent debt ratios."

For further information:

 
 CentralNic Group Plc 
  Ben Crawford, Chief Executive Officer 
  Don Baladasan, Group Managing Director 
  Michael Riedl, Chief Financial 
  Officer                                    +44 (0) 203 388 0600 
 
 Zeus Capital Limited (NOMAD and 
  Joint Broker) 
  Nick Cowles / Jamie Peel (Corporate 
  Finance) 
  John Goold / Rupert Woolfenden              +44 (0) 161 831 1512 
  (Institutional Sales)                       +44 (0) 203 829 5000 
 Stifel (Joint Broker) 
  Fred Walsh / Neil Shah / Alex Price 
  / Rajpal Padam                                     +44 (0)20 7710 7600 
 Newgate Communications (for Media)         +44 (0) 203 757 6880 
  Bob Huxford                                centralnic@newgatecomms.com 
  Tom Carnegie 
  Robin Tozer 
 

About CentralNic Group plc

CentralNic (AIM: CNIC) is a London-based AIM-listed company which drives the growth of the global digital economy by developing and managing software platforms allowing businesses globally to buy subscriptions to domain names, used for their own websites and email, as well as for protecting their brands online. Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and migrating them onto the CentralNic software and operating platforms.

CentralNic operates globally with customers in almost every country in the world. It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis.

For more information please visit: www.centralnicgroup.com

The person responsible for the release of this announcement is Michael Riedl, CFO.

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.

END

TSTCKNDKKBKBKAB

(END) Dow Jones Newswires

June 24, 2019 02:01 ET (06:01 GMT)

1 Year Centralnic Chart

1 Year Centralnic Chart

1 Month Centralnic Chart

1 Month Centralnic Chart

Your Recent History

Delayed Upgrade Clock