Napster Group PLC Update on Disposal and De-listing timetable (5563Y)

TIDMNAPS

RNS Number : 5563Y

Napster Group PLC

17 January 2022

NAPSTER GROUP PLC

("NAPS" or the "Company")

Update on Disposal and De-listing timetable

Napster (AIM:NAPS), a leading music company and operator of the MelodyVR and Napster platforms, is pleased to announce that the Directions Hearing in relation to the proposed Capital Reduction occurred on 14 January 2022.

Accordingly, as detailed in the Company's circular dated 3 December 2021, the last day of dealings in the Company's ordinary shares is still expected to be 27 January 2022 with the Company's ordinary shares being cancelled from trading on AIM at 7.00 a.m. on 28 January 2022. The expected timetable for the Capital Reduction, Share Consolidation and completion for the Disposal are set out below.

 
 Court hearing with respect to the Capital                    25 January 2022 
  Reduction 
 Expected date that the Capital Reduction                     26 January 2022 
  will become effective 
                                                    ------------------------- 
 Record date in respect of the Share Consolidation    5.00 p.m. on 26 January 
                                                                         2022 
                                                    ------------------------- 
 Expected date and time that the Share                8.00 a.m. on 26 January 
  Consolidation will become effective                                    2022 
                                                    ------------------------- 
 Record date and time in respect of the               6.00 p.m. on 27 January 
  Disposal                                                               2022 
                                                    ------------------------- 
 Expected date and time for completion               11.59 p.m. on 27 January 
  of the Disposal and issue of Consideration                             2022 
  Shares 
                                                    ------------------------- 
 Earliest date of De-Listing / cancellation             With effect from 7.00 
  of admission of New Ordinary Shares from                 a.m. on 28 January 
  AIM                                                                    2022 
                                                    ------------------------- 
 

1) If any of the above times and/or dates change, the revised times and/or dates will be noti ed to Shareholders through a Regulatory Information Service.

2) All references to time in this announcement are to London time, unless otherwise stated.

3) Any dates above are subject to court availability in respect of the Capital Reduction

For further information please contact:

 
Napster Group PLC                                [e-mail] 
 Anthony Matchett, Group CEO 
finnCap Ltd ( Nominated Adviser and Broker)      Tel: [phone] 
 Corporate Finance: Marc Milmo, James Thompson,   0500 
 Milesh Hindocha 
 ECM: Tim Redfern, Sunila de Silva 
 

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January 17, 2022 02:00 ET (07:00 GMT)