TIDMAFRN

RNS Number : 7935I

Aferian PLC

16 August 2021

AFERIAN PLC

("Aferian", the "Company" or the "Group")

Completion of acquisition of remaining 8% minority interest in 24i

Cambridge - 16 August 2021 - Aferian plc (LSE AIM: AFRN), a software-led global media technology company that delivers modern TV experiences, is pleased to announce that it has completed the acquisition of the remaining 8% minority interest in 24i Unit Media B.V and its subsidiaries ("24i").

Further to the Company's announcement on 3 August 2021, the Company has entered into a deed of transfer regarding the remaining shares held by the founders of 24i. The total amount payable by the Company of EUR3,305,248 ($3,900,193) will be settled by:

   -     EUR1,000,000 ($1,180,000) in cash ("Cash Consideration"); and

- EUR2,305,348 ($2,720,193) through the issue of 1,320,042 new Ordinary Shares of 1p each in the Company ("Ordinary Shares") at a price of GBP1.4969 per Ordinary Share.

The Cash Consideration is expected to be paid within five business days of this announcement.

An application has been made for the admission of the Ordinary Shares to trading on the AIM market of London Stock Exchange plc ("Admission"). It is expected that the Admission will take place at or around 8.00 a.m. (London time) on 20 August 2021. The Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all aspects with the Company's existing issued Ordinary Shares.

On Admission, the Company will have 86,419,410 Ordinary Shares in issue. There are 1,661,644 Ordinary Shares held in treasury. Therefore the total number of voting rights in the Company is 84,757,766. This number may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under FCA's Disclosure Guidance and Transparency Rules.

-ENDS-

For further information please contact:

 
Aferian plc                                          +44 (0)1223 598197 
Donald McGarva, Chief Executive Officer 
Mark Carlisle, Chief Financial Officer 
 
                                                     +44 (0)20 7597 
Invest Bank plc (NOMAD and Broker)                    5970 
David Anderson / Patrick Robb / Cameron MacRitchie 
 
                                                     +44 (0)20 3727 
FTI Consulting LLP (Financial communications)         1000 
Matt Dixon / Chris Birt / Gregory Hynes

About Aferian plc

Aferian plc (AIM: AFRN) is a software-led, global Media Technology company. We deliver modern TV experiences the way viewers want them, seamlessly integrating streaming and Pay TV services. Our award-winning Next Generation technology platforms enable operators, broadcasters and content owners to provide viewers the choice, usability and convenience they expect.

It is our belief that successful media companies and services will be those that are most consumer-centric, data driven and flexible to change. We focus on innovating technologies that enable our customers stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering end-to-end modern TV and video experiences to consumers. By anticipating technological and behavioural audience trends, our software solutions empower our customers to heighten viewer enjoyment, drive growth in audience share and ultimately, their profitability.

Aferian plc has two operating companies: 24i, which focusses on streaming video experiences, and Amino, which connects Pay TV to streaming services. Our two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. Our solutions deliver modern TV and video experiences every day to millions of viewers globally, via our growing global customer base of over 500 service providers.

Aferian plc is listed on the London Stock Exchange Alternative Investment Market (AIM: symbol AFRN). Headquartered in Cambridge, UK, the company has over 350 staff located in offices in San Francisco, Amsterdam, Helsinki, Copenhagen, Madrid, Porto, Brno, Buenos Aires, and Hong Kong. For more information, please visit www.aferian.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 rns@lseg.com 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

ACQEADPKFDKFEFA

(END) Dow Jones Newswires

August 16, 2021 10:00 ET (14:00 GMT)

Aferian (LSE:AFRN)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Aferian Charts.
Aferian (LSE:AFRN)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Aferian Charts.