8 Feb 2019 07:00
8 February 2019
7digital Group plc("7digital" or the "Company")
Exercise of Conversion Rights and Issue of Equity
7digital Group plc (AIM: 7DIG) announces that it has received notice of conversion from one holder in respect of £193,858 (including interest) of the £1.5 million facility announced on 26 October 2018 at a conversion price of 1p pursuant to which 19,385,843 ordinary shares of 1p each (the "Ordinary Shares") fall to be issued. Following conversion an aggregate of £1,311,691 of the facility will remain outstanding. The holder has no further conversion rights.
Application will be made for the admission to AIM ("Admission") of 19,385,843 new Ordinary Shares. The new Ordinary Shares rank pari passu with the Company's existing issued Ordinary Shares, and dealing is expected to commence on 14 February 2019.
Following Admission, the Company's enlarged issued share capital will be 419,622,489 Ordinary Shares. This figure of 419,622,489 Ordinary Shares 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains information which, prior to its disclosure, was deemed inside information for the purpose of the Market Abuse Regulation.
For further information please contact:
7digital | 020 7099 7777 |
Simon Cole, Chief Executive |
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David Holmwood, Interim Chief Financial Officer Holly Ashmore, PR Manager |
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Arden Partners (nominated adviser and broker) |
020 7614 5900 |
Ruari McGirr/ Tom Price/ Benjamin Cryer - Corporate Finance |
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About 7digital (http://about.7digital.com/)
7digital is the global leader in B2B end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.
7digital fosters industry growth and innovation by simplifying access to music for clients such as MediaMarktSaturn, Onkyo and musical.ly. From years of being the largest independent producer of programming for the BBC and powering services for partners like Panasonic, TDC and Fender, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.