Next Fifteen Comm Additional Listing
30 September 2017 - 2:32AM
UK Regulatory
TIDMNFC
29 September 2017
Next Fifteen Communications Group plc ("Next 15" or the
"Company")
Additional listing
Next 15 announces that on 27 September 2017 it acquired the
remaining 25% minority interest in Encore Digital Media Limited
("Encore"), a programmatic advertising technology business,
bringing forward the obligation to acquire the remaining 25%
announced on 28 April 2015.
Under the amended terms of the acquisition, certain payments in
respect of deferred consideration payable in Next 15 shares will
also be brought forward, including a portion of the 'top-up
payment' which has now been paid on completion of the acquisition.
Accordingly 85,353 new ordinary shares of 2.5 pence each in the
Company ("Ordinary Shares") are due to be issued and allotted in
respect of this payment. The new Ordinary Shares will rank pari
passu with the Company's existing ordinary shares. All outstanding
consideration payable in respect of the Encore acquisition remains
subject to the original undisclosed cap. The acquisition of the
remaining 25% minority interest from 2020 has been brought forward
in order to further simplify the Next 15 group's corporate
structure and to enable a long-term incentive plan for Encore
management and staff to be implemented.
Application has been made to the London Stock Exchange for the
new Ordinary Shares to be admitted to AIM and it is expected that
admission will take place on 04 October 2017. Following the issue
and allotment of the new Ordinary Shares as described above, the
Company will have 75,601,549 Ordinary Shares in issue. No shares
are held in treasury.
Enquiries:
Next Fifteen Communications Group plc
Peter Harris, CFO +44 (0)20 7908 6444
Investec Bank plc
Keith Anderson / Matt Lewis +44 (0) 20 7597 5970
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170929005586/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
September 29, 2017 12:32 ET (16:32 GMT)
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