Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thanks Copout & Paulus.
1st Oct 2020 7:00 am RNS Financial Adviser and Joint Broker Appointment
"Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which owns Entertainment Daily and The Daily Mash, announces that it has appointed Panmure Gordon (UK) Limited ("Panmure Gordon") as Financial Adviser and Joint Broker, with immediate effect, alongside WH Ireland who are Nominated Adviser and Joint Broker and Alvarium who are Joint Broker, to the Company."
https://www.lse.co.uk/rns/DBOX/financial-adviser-and-joint-broker-appointment-16twe95ip82lmi8.html
1st Oct 2020 7:01 am RNS Acquisition, Subscription and Board Update
"Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which owns Entertainment Daily and The Daily Mash, today announces the acquisition of the entire issued share capital of Tab Media Limited ("Tab Media") for a cash consideration of £750,000 (the "Acquisition").
In conjunction with the Acquisition, the Company announces a proposed direct subscription to raise £1.2 million, before expenses, through a subscription for 24,489,795 new ordinary shares in the Company at a subscription price of 4.9 pence per ordinary share by Downing Strategic Micro-Cap Investment Trust plc (the "Subscription"). The Subscription is conditional on shareholders' approval at a general meeting of the Company. The Acquisition is not conditional on the Subscription or on shareholders' approval. ...
The Subscription Price represents a discount of 2.0% to the closing price of 5.0 pence on 30 September 2020. The Subscription Shares represent 26.7% of the Company's existing issued share capital at the date of this announcement and will represent 21.1% of the Company's enlarged issued share capital immediately following the issue of the Subscription Shares.
The Subscription is conditional, inter alia, upon the approval by Shareholders at a general meeting of the Company which is expected to be convened on or around 19 October 2020 (the "General Meeting"). ...
Pursuant to the Subscription Agreement, Robin Miller, Chairman of the Company, has indicated his willingness to resign as Chairman and step down from the Board. Robin will remain in his role and oversee a smooth transition of his responsibilities until a successor is appointed.
The Company will immediately commence a search process for independent non-executive chairman candidates, and a further update in this regard will be made in due course. ..."
https://www.lse.co.uk/rns/DBOX/acquisition-subscription-and-board-update-e4px9zn73so0hvl.html
Yes, well anticipated H100. I'm also thinking the appointment of a second broker will push up the SP to a more realistic level. Plenty of scope for a higher MCap in the coming 12 months.
Well worked out Hedgie. Interesting acquisition but would have liked an explanation why the added value is significantly more in year 2 over year 1. Even so buying has perked up today which has to be good.
Added to the company's existing cash, this new facility can provide very useful extra liquidity at a very cheap price:
8th Sep 2020 7:00 am RNS Unaudited Interim Results
" ... Furthermore, the cash balance has increased from £0.5 million at 31 December 2019 to £1.2 million at 30 June 2020. ..."
https://www.lse.co.uk/rns/DBOX/unaudited-interim-results-2r1pm0zlnbd186g.html
Could it be a prelude to an acquisition?
25th Sep 2020 7:00 am RNS New borrowing facility agreed
"Funding Update
Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which owns Entertainment Daily and The Daily Mash, announces that, in order to strengthen the balance sheet and aid liquidity, the Company has secured a £450,000 five year term loan facility under the British Business Bank's Coronavirus Business Interruption Loans Scheme (CBILS) from its bankers, National Westminster Bank plc (the "Facility").
The Facility can be drawn down at any point before 9 December 2020 with a 12 month interest-free period following drawdown and an interest rate of 2.48% per annum on the drawn down amount thereafter. The funds are repayable commencing 12 months after drawdown in equal monthly instalments for the remaining four years. There will be no penalty for making early repayment(s) of all or part of the Facility."
https://www.lse.co.uk/rns/DBOX/new-borrowing-facility-agreed-wjwm3gbm2caygt2.html