RhythmOne PLC Perk Inc. Acquisition Update (2989U)
17 January 2017 - 6:00PM
UK Regulatory
TIDMRTHM
RNS Number : 2989U
RhythmOne PLC
17 January 2017
17 January 2017
RHYTHMONE PLC
PERK INC. ACQUISITION UPDATE
London, England and San Francisco, California - Further to its
announcement of 5 December 2016, RhythmOne plc ("RhythmOne" or the
"Company", LSE AIM: RTHM) is pleased to provide an update on its
acquisition of Perk Inc. ("Perk").
At a special meeting of the shareholders of Perk held on 12
January 2017, the requisite majority of Perk shareholders voted in
favor of the Company acquiring all of the issued and outstanding
common shares and class A restricted voting shares of Perk (the
"Acquisition") by way of a court-approved "Plan of
Arrangement".
Further, a court hearing to approve the Plan of Arrangement took
place on 16 January 2017. Following the satisfaction or waiver of
all other closing conditions customary for transactions of this
nature, it is anticipated that completion of the Acquisition will
take place on 19 January 2017 immediately upon admission to trading
of the 88,235,410 new RhythmOne ordinary shares, being the total
consideration for the Acquisition.
No shares are held in Treasury and accordingly, the total number
of voting rights in the Company following the admittance of the new
RhythmOne ordinary shares for the Acquisition and exercise of
options pursuant to RhythmOne option schemes will be 494,224,203.
This figure may be used by shareholders 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,
RhythmOne.
Analyst and Investor Contact
Dan Slivjanovski
RhythmOne plc
Financial Media Contacts
Edward Bridges / Charles Palmer
FTI Consulting LLP
(UK) 020 3727 1000
Nomad and Broker for RhythmOne
Nick Westlake (Nomad) / Lorna Tilbian / Mark Lander
Numis Securities Limited
(UK) 020 7260 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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