18 December
2017 at 7am
One Media iP Group
Plc
("One Media", the
"Group” or the “Company")
Subscription,
issue of equity and proposed director appointments
Investment by Lord Michael Grade and
Ivan Dunleavy, designate
non-executive directors
One Media iP Group Plc (AIM: OMIP), a digital media content
provider that exploits intellectual property rights around music,
video and copyright technology, is pleased to announce an equity
investment totalling £375,000 gross in the Company by Lord
Michael Grade and Ivan Dunleavy, and their proposed appointment as
Non-executive Directors.
Lord Grade said: “I firmly believe the music industry has turned
a corner – led by streaming services, which are seen as the basis
of future growth by content owners. One Media is a very
accomplished business with strong credentials, and we share the
management team’s view of the music business’ development. I look
forward to working closely with them and using my experience to add
value and expedite the scale up of the business.”
“Our investment is a gesture of our firm commitment and a
demonstration of our belief in One Media’s future prospects,” added
Ivan Dunleavy. “We have a
long-established relationship with Michael
Infante and are impressed with how he has run this company
and developed an excellent reputation in this industry. With music
streaming set to grow, not only will this company benefit from
sales of its portfolio of digital content, it is also able to
provide a vital service to copyright owners through its in-house
developed proprietary software, TCAT, which tracks and monitors
where their music is made available for sale. We look forward to
working with the One Media’s team to build on the strong
foundations and advancing to the next stage of development.”
One Media is an owner and provider of digital music and video
content. The Group operates in the $4.6bn global music streaming market, which
Goldman Sachs analysts predict will grow to $28bn by 2030. In the UK alone, PwC estimate that
digital music streaming will generate £520m this year and grow by a
CAGR of approximately 22% to over £1bn by 2021, when it will
account for 93% of all digital recorded music revenue. The Company
has a catalogue of over 250,000 nostalgic music tracks from a range
of genres from Soul to classical music and rock to pop from over
the last 50 years, including artists such as Ricky Valance,
Evelyn Thomas, Anita Harris, The Tremeloes, the Troggs and
Marv Johnson. One Media looks to
exploit its music tracks and over 10,000 hours of video by
recompiling the content for sale through more than 600 digital
music and video store groups worldwide such as iTunes, Spotify,
Amazon and YouTube. In addition, its library of content is
available for TV shows, movies, adverts and websites requiring
synchronised music. One Media acquired the entire assets of Men
& Motors from Granada/ITV in 2012 and now exploits the 3400
shows on YouTube and is looking to rework the format back to
digital TV broadcast in the future.
Michael Infante, Chairman and
Chief Executive of One Media, commented: “I am delighted to welcome
Ivan Dunleavy and Lord Grade as
investors into One Media. I am also excited by the wealth of
experience that this will bring to the Company following their
proposed appointment as non-executive directors. They have an
exceptional track record, both individually and combined, with
their partnership at Pinewood Studios overseeing a more-than
fivefold increase in the value of that business. In 2018, both the
music industry and One Media are poised to benefit from an uplift
in the monetisation of content through streaming and we will also
extend our reach with exciting initiatives such as TCAT. As a
result, this is an opportune moment for us to appoint Ivan and
Michael and to leverage their expertise.”
Proposed appointment of Directors
Following the completion of the requisite regulatory procedures,
Lord Michael Grade and Ivan Dunleavy will be appointed as Non-executive
Directors of the Company.
Lord Michael
Grade
Lord Michael Grade has had a
distinguished career as a television executive and businessman. His
experience in broadcasting has encompassed leading roles at London
Weekend Television, Channel 4 Television, the BBC and ITV as well
as being the Chairman of Pinewood Group plc, Europe’s largest
provider of stage and studio space.
Ivan
Dunleavy
Ivan Dunleavy’s career in media spans more than 35 years,
including 17 years as Chief Executive Officer of Pinewood Group.
Prior to Pinewood, he was Chief Executive Officer of VCI plc, an
audio-visual and audio publishing group.
A further announcement will be made upon completion of the
requisite regulatory procedures.
Subscription and Total Voting
Rights
The Company has raised £375,000 gross via a subscription for
15,000,000 new ordinary shares (“Subscription Shares”) in the
Company at a price of 2.5 pence per
share as set out below:-
Subscriber name |
Number of Subscription Shares |
% held of enlarged issued share
capital |
Lord Michael Grade |
7,500,000 |
8.715% |
Ivan Dunleavy |
7,500,000 |
8.715% |
Application has been made to the London Stock Exchange for the
15,000,000 Subscription Shares to be admitted to trading on AIM
(“Admission”). Admission is expected to occur on or around
21 December 2017. The Subscription
Shares will rank pari passu with the Company’s existing ordinary
shares.
Following Admission of the Subscription Shares, the total number
of ordinary shares in issue will be 86,053,698. The Company does
not hold any shares in treasury. This figure may be used by
shareholders in the Company 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 Financial Conduct Authority's Disclosure
Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please
contact:
One Media iP Group
Plc |
|
Michael Infante,
Chairman and Chief Executive
Alice Dyson-Jones, Communications |
+44 (0)175 378
5501
+44 (0)175 378 5500 |
|
|
Cairn Financial
Advisers LLP (Nominated Adviser) |
|
Liam Murray, Jo
Turner |
+44
(0)20 7213 0880 |
|
|
Panmure Gordon (UK) Ltd
(Broker) |
|
Karri Vuori, James
Stearns |
+44
(0)20 7886 2500 |
|
|
Luther Pendragon
Ltd (Financial PR) |
|
Harry Chathli, Claire
Norbury |
+44
(0)20 7618 9100 |
Notes to Editors
Based at Pinewood Studios, One Media is an 'intellectual
property' (IP) owner and/or controller of rights within the digital
arena concerning music, video and digital distribution. It is a B2B
(business-to-business) operation, that is consumer led which looks
to exploit its catalogue of over 250,000 music tracks and over
10,000 hours of video by recompiling its content for download,
streaming and sub licensing through over 600 digital music and
video stores worldwide.
The Group 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 & 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, including pop,
rock, reggae, R&B, children's music, karaoke, jazz, soul,
blues, rap, hip-hop, gospel and world-music, plus stand-up comedy
and spoken-word. In July 2014 the
Group acquired, for a consideration of USD$1.6m, the Point Classics classical music
library bringing the number to over 10,000 classical tracks now
available to the Group for exploitation. The Group owns all the
rights to the Men & Motors (originally Granada/ITV) TV shows
originally aired on British TV between 1996 and 2010. Comprising
over 3,500 shows, Men & Motors is available for viewing on the
Group’s YouTube Channel.
Recently the Group has developed a content discovery and
policing software service, 'Technical Copyright Analysis Tool'
(TCAT), as a new service to record companies, publishers and law
firms searching information of artists and tracks on legitimate
digital stores. One Media has been previously eligible for
Enterprise Investment Schemes ("EIS") and Venture Capital Trusts
("VCT").