One Media iP Group Plc Subscription and proposed director appointments
18 December 2017 - 6:00PM
UK Regulatory
TIDMOMIP
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 GBP375,000
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 GBP520m this year and grow by a CAGR of
approximately 22% to over GBP1bn 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 GBP375,000 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 % held of
Subscription Shares 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 +44 (0)175 378 5501
Alice Dyson-Jones, Communications +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").
END
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