One Media iP Group PLC Refinancing of GBP1.9M of outstanding loan notes (5370A)

TIDMOMIP

RNS Number : 5370A

One Media iP Group PLC

26 September 2022

26 September 2022

One Media iP Group Plc

("One Media", "the Company" or the "Group")

Refinancing of GBP1.9M of outstanding unsecured loan notes

One Media iP (AIM: OMIP), the digital media content owner and provider which specialises in the active exploitation of music and video intellectual property rights as well as copyright infringement technology, announces that it has refinanced its GBP1.9 million of outstanding unsecured loan notes held by British Growth Fund, which carried a fixed interest rate of 7%.

The refinancing is by way of a secured facility from Coutts & Co. priced at base rate plus 3.5%, amortising on a straight-line basis over five years. The Coutts facility, whilst secured, is on more traditional bank lending terms and contains fewer restrictions on the operations of the business.

Michael Infante, CEO at One Media iP, said: "We're pleased to have completed this refinancing, in particular with the endorsement of a bank of Coutts's reputation, which gives us greater operational flexibility as we continue to work towards our strategic ambitions."

ENDS

For further information, please contact:

 
 One Media IP Group Plc 
 Michael Infante                        Chief Executive 
                                         Tel: [phone] 
                                         5500 
 Claire Blunt                           Chairman 
                                         Tel: [phone] 
                                         5501 
 Cairn Financial Advisers LLP           Nominated Adviser 
 Liam Murray / Jo Turner / Ludovico     Tel: [phone] 
  Lazzaretti                             0880 
 Cenkos Securities plc                  Broker 
 Giles Balleny / Max Gould (Corporate   Tel: [phone] 
  Finance)                               8900 
  Michael Johnson (Sales) 
 Claire Turvey, Fourth Pillar           Financial PR 
                                        Tel: [phone] 
                                         198 
 
 

About One Media iP Group Plc

One Media is a digital music rights acquirer, publisher and distributor with a catalogue independently valued at GBP34.8 million (as at April 2022). The Group specialises in purchasing and monetising intellectual property rights with proven, repeat income streams. One Media adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify.

One Media's music is also widely used for synchronisation in film and TV whilst its video content is primarily viewed on YouTube where One Media operates over 20 channels as a certified partner. Alongside this, its anti-piracy copyright infringement and digital music audit tool software TCAT is used by major record labels and the world leading digital international distributor. Men & Motors, the Company's branded car channel, is now available via YouTube www.youtube.com/channel/UCNLiybn_9jgQaV0NZlSRwCg

One Media is listed on the AIM Market of the London Stock Exchange under the ticker 'OMIP'.

For further information, please visit www.omip.co.uk and www.harmonyip.com/

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFLFIDARIEFIF

(END) Dow Jones Newswires

September 26, 2022 02:01 ET (06:01 GMT)