7DIG.L Share News (7DIG)

7DIG.L Information

There is currently no data for 7DIG

7Digital wins €4m settlement from Juke

Fri, 01st Mar 2019 08:51

(Sharecast News) - Digital music solutions outfit 7Digital has reached a settlement agreement with Juke Entertainment over outstanding contracts and commitments relating to the Juke music service.Juke, a wholly owned subsidiary of Media-Saturn-Holding, will make an immediate payment of €4m to 7Digital and has also agreed to write off all interest payments and £250,000 of the principal amount of a convertible loan note issued to Juke.7Digital will cover the £500,000 balance of the convertible loan note with the proceeds of the agreement, while the remaining net proceeds will be applied for general corporate purposes.Chief executive Simon Cole said he was extremely pleased to put the period of uncertainty behind him.Cole said: "Whilst we would have preferred not to have been in this position, we are very satisfied with the settlement.The immediate injection of cash will allow us to restructure our overhead base and reposition the company for continued growth."As of 0850 GMT, 7Digital shares had rocketed 41.08% to 1.30p.

More News

9 Sep 2014 10:44

UK WINNERS & LOSERS: Shell, BP Down As Brent Oil Stays Below USD100

9 Sep 2014 07:42

7digital's Radioplayer Selected By German Commercial Radio Industry

15 Aug 2014 07:00

7digital Says UBC Posted Loss In Full Year Prior To Reverse Takeover

14 Aug 2014 08:56

7digtal Agrees New Terms With BlackBerry To Provide Music Service

29 Jul 2014 09:37

Tuesday broker round-up UPDATE

Abderdeen Asset Management: Berenberg cuts target price from 530p to 510p and maintains a buy recommendation. African Barrick Gold: Numis takes target price from 260p to 330p upgrading from hold to buy. Anglo American: Deutsche Bank increases target price from 1590p to 1650p and reiterates a hold

1 Jul 2014 12:10

7digital hit by BlackBerry's closure announcement

Shares in AIM-listed 7digital took a hit on Tuesday following BlackBerry's decision to close the music and video sections of BlackBerry World. The group insisted it didn't anticipate the decision would have an impact on current market expectations for its financial performance. "The company conti

1 Jul 2014 12:08

UK MIDDAY BRIEFING: Tesco, Morrison's Continue To Struggle

1 Jul 2014 11:49

UK WINNERS & LOSERS: Miners Buoyed By Chinese PMI Data

1 Jul 2014 08:22

7digital Shares Drop 18% As It Responds To Blackberry World Closure

24 Jun 2014 08:20

7Digital To Power Music Streaming Service For ROK Mobile

24 Jun 2014 07:29

UK MORNING BRIEFING: London Shares Firm Ahead Of Carney Testimony

10 Jun 2014 10:54

7Digital Group Inks Two Partnership Deals Following Reverse Takeover

LONDON (Alliance News) - 7Digital Group PLC said Tuesday it has inked two partnership agreements since its creation via the reverse takeover of 7 Digital Group Inc by UBC Media Group PLC in May. UBC acquired 7 Digital for GBP16.5 million in an effort to grow in the digital music market.

10 Jun 2014 08:00

7digital unveils contract wins on re-admission to AIM

Digital music and radio services company 7digital has scored two contract wins, including a new partnership with Guvera, a streaming music service. The deals were announced on Tuesday, following the stock's re-admission to the AIM market. Under the agreement, Guvera will use 7digital's platform

Latest Share Chat

7DIG.L Share News (7DIG)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

7Digital wins €4m settlement from Juke

Login to your account

Quickpicks are a member only feature

Login to your account