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Admission to Trading and First Day of Dealings
Falcon Acquisitions Limited has announced that its entire issued ordinary share capital consisting of 20,375,100 Ordinary Shares of £0.01 each will today be admitted to the standard segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities.
Dealing will commence at 8:00 a.m. under the TIDM code “FAL” (ISIN:GG00BYTLL975).
Highlights
· Targeting acquisitions in the mobile, online television and broadcasting sectors with particular focus on the fast growing over-the-top content (“OTT”) market – intention is to acquire controlling stakes, which will allow the Company to implement a strategy to generate substantial value for shareholders
· OTT is a rapidly growing market which involves delivering media content, such as audio and video, either over the open internet without a multiple-system operator or via an internet enabled device – smart televisions with a broadband connection, phones, tablets, and set top boxes
· Strong growth expected to continue – according to July 2015 whitepaper by MTM Research entitled “Prospects for Premium OTT in the USA: A snapshot of industry perspectives on the evolution of the market” (the “2015 Report”) and Juniper Research Ltd:
o US premium OTT market (excluding Amazon Prime Instant Video) grew at a compound annual growth rate of 36% between 2011 and 2014 and was worth US$4 billion in 2014
o 40.3% of US TV households subscribed to at least one premium OTT service by end of 2014
o Structural growth drivers include: increased penetration of broadband and devices such as tablets and smartphones; increased willingness of consumers to pay for content; OTT undercuts more established pay-TV services; a wealthy and scalable US market, a world leader in technology and media; the success of Netflix which has stimulated competition
o Global OTT subscription numbers and market forecast to grow to 332.2 million (2014: 92.1 million) and US$31.6 billion (2018: US$8 billion) by 2019
· Total Net Proceeds available to the Company following a Subscription of New Ordinary Shares to investors and the Founder are £1,730,009 which will be used for general corporate purposes, due diligence costs and other costs associated with sourcing, reviewing and pursuing acquisitions
· The Board, comprising Gert Rieder (Executive Chairman), Mark Gustafson (Non-Executive Director), and William Kennish (Non-Executive Director), collectively has a proven track record of raising money for listed entities, making substantial acquisitions, and operating and growing a wide diversity of businesses, and has collectively subscribed for 450,000 shares on Admission
Gert Rieder, Falcon’s Chairman, said “OTT is a fast growing market which is transforming the way millions of us access media content both in our homes and via mobile devices. This is due to a compelling combination of technological advancements, competitive pricing, enhanced flexibility compared to other competing systems, and the growing willingness of consumers to pay for content. Despite the strong growth seen to date, we believe there is significant room for additional growth and as the 2015 Report above demonstrates, we are not alone. With a management team in place which has a proven track record in building businesses in a variety of industries including telecommunications, media and technology, both organically and through acquisitions, we are highly confident we can do the same with Falcon and in the process generate substantial value for investors. I look forward to providing updates on our progress in due course.”
