One Media iP Group Plc Results of the Placing and Subscription

 
TIDMOMIP 
 
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT 
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR 
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW 
ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH 
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF 
EU REGULATION 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS 
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH 
PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION 
RELATING TO THE COMPANY AND ITS SECURITIES. 
 
UNLESS OTHERWISE INDICATED, CAPITALISED TERMS IN THIS ANNOUNCEMENT HAVE THE 
MEANINGS GIVEN TO THEM IN THE PLACING ANNOUNCEMENT (AS DEFINED BELOW). 
 
31 August 2018 
 
                            One Media iP Group plc 
 
                        ("One Media", or the "Company") 
 
   Results of the Placing and Subscription and Issue of Equity & Loan Notes 
 
Conditional fundraise of GBP8.9 million gross 
 
One Media iP Group plc (AIM: OMIP), an 'intellectual property' (IP) owner and 
controller of music and video rights, is pleased to announce the successful 
completion of a conditional Placing and Subscription as well as the conditional 
issue of up to GBP6 million of Loan Notes announced earlier today (the "Placing 
Announcement"). 
 
As a result of the Placing and Subscription, a total of GBP2.895 million (before 
expenses) has been conditionally raised by the Company. A total of 31,166,668 
Placing Shares have been conditionally placed by Panmure Gordon at a price of 6 
pence per Placing Share (the "Placing Price") to raise a total of approximately 
GBP1.87 million (before expenses). In addition, the Company has received 
conditional subscription applications for a total of 17,083,333 Subscription 
Shares at the Subscription Price per Subscription Share to raise a total of 
approximately GBP1.02 million (before expenses). 
 
The Placing and Subscription Shares represent approximately 55.2 per cent. of 
the existing issued share capital of the Company. The Placing Price represents 
a discount of 42.2 per cent. to the middle market closing price of an Ordinary 
Share on 30 August 2018, being the last practicable dealing day prior to the 
Placing Announcement. 
 
Completion of the Placing and the Subscription is conditional on, among other 
things, the passing of the Resolutions at the Extraordinary General Meeting, 
Admission of the Placing Shares and Subscription Shares to trading on AIM 
becoming effective and the Placing Agreement becoming unconditional in all 
other respects by 25 September 2018 or such later date (being no later than 1 
October 2018) as the Company and Panmure Gordon may agree. 
 
A notice will be posted to Shareholders on Monday (3 September 2018) convening 
an Extraordinary General Meeting for 11:00 a.m. on 19 September 2018 at the 
offices of Reed Smith LLP, The Broadgate Tower, 20 Primrose Street, London, 
EC2A 2RS. Subject to the passing of the Resolutions at the Extraordinary 
General Meeting, application will be made to the London Stock Exchange for 
48,250,001 Placing and Subscription Shares to be admitted to trading on AIM. 
It is expected that Admission will become effective and that dealings in the 
Placing and Subscription Shares will commence at 8.00 a.m. on 25 September 
2018. 
 
The Placing and Subscription Shares will be issued as fully paid and will, on 
issue, rank pari passu in all respects with the existing Ordinary Shares, 
including the right to receive all dividends and other distributions thereafter 
declared, made or paid on the Enlarged Share Capital. 
 
Directors' Participations 
 
Ivan Dunleavy, Chairman of the Board, and Lord Michael Grade, a Non-Executive 
Director, have both agreed to subscribe for 625,000 Subscription Shares for an 
investment of GBP37,500 each. 
 
The participations of Ivan Dunleavy and Lord Grade in the Subscription 
constitute related party transactions under the AIM Rules. The Directors, 
excluding Ivan Dunleavy and Lord Grade, having consulted with Cairn, as the 
Company's nominated adviser, consider the terms of Ivan Dunleavy's and Lord 
Grade's participations to be fair and reasonable insofar as Shareholders are 
concerned. 
 
Total Voting Rights 
 
On Admission, the Company's issued share capital will be 135,603,699 which also 
represents the total number of voting rights. Shareholders should use this 
figure 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 FCA's Disclosure Guidance and 
Transparency Rules. 
 
For further information, please contact: 
 
One Media iP Group plc 
 
Ivan Dunleavy, Chairman                          [phone] 
Michael Infante, Chief Executive 
 
Cairn Financial Advisers LLP (Nominated Adviser) 
 
Liam Murray, Jo Turner                           [phone] 
 
Panmure Gordon (UK) Ltd (Broker) 
 
James Stearns, Andrew Potts                      [phone] 
 
Luther Pendragon Ltd (Financial PR) 
 
Harry Chathli, Claire Norbury                    [phone] 
 
Notes to Editors 
 
One Media iP Group plc is an 'intellectual property' (IP) owner and controller 
of music and video rights. It exploits its catalogue of over 250,000 music 
tracks and 10,000 hours of video by re-compiling its content for download, 
streaming and sublicensing through over 600 territorial digital music and video 
stores worldwide. 
 
One Media 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 and 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. Its 
classical music library of over 10,000 performances includes the Point Classics 
catalogue comprising some of the most renowned masterpieces by the world's 
greatest composers. One Media owns all the rights to the Men & Motors TV shows 
(originally Granada/ITV) that were aired on British TV between 1996 and 2010. 
Comprising over 3,400 shows, Men & Motors is available for viewing on One 
Media's YouTube channel. 
 
Recently One Media has developed a content discovery and analytical software 
service, TCAT, which allows record companies, publishers and law firms to 
search certain digital stores, such as iTunes and Spotify, and carry out a 
forensic digital audit on behalf of owners to ensure that their music has not 
been used without licensing agreements being in place. A major record label and 
the largest independent digital music distributor are now using this service 
globally. 
 
 
 
END 
 

(END) Dow Jones Newswires

August 31, 2018 12:54 ET (16:54 GMT)