15 Jun 2020 07:15
15 June 2020
7digital Group plc
("7digital" or "the Company")
Update on Publication of Annual Audited Accounts
Change of Registered Address
7digital (AIM: 7DIG), the global leader in B2B end-to-end digital music solutions, announces that the Company has applied for and been granted a three-month extension for the reporting and filing of its annual audited accounts for the year ended 31 December 2019 ("2019 Accounts").
The Company has been advised by its auditors, BDO LLP, that due to its increased audit processes in light of COVID-19, and the wider impact of the pandemic, it will not be in a position to sign off 7digital's 2019 Accounts by 30 June 2020.
The Company has obtained a three-month extension for the filing of its 2019 Accounts with Companies House. In line with the guidance provided by AIM Regulation on 26 March 2020, the Company has also been granted an additional period of up to three months to publish its 2019 Accounts. Consequently, the Company will publish its annual audited accounts pursuant to AIM Rule 19 as soon as practicable prior to the revised deadline of 30 September 2020.
As announced on 27 April 2020, 7digital expects to achieve operational profitability during the second half of the year, and this guidance remains unchanged. The Company continues to execute its strategy of leveraging 7digital's market-leading technology to capitalise on the growth in music streaming and demand for digital music solutions.
In addition, the Company announces that its registered address has changed to Labs Lower Lock, Water Lane, London, England, NW1 8JZ.
Enquiries:
7digital | 020 7099 7777 |
Paul Langworthy, CEO |
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Arden Partners (Nominated Adviser and Broker) | 020 7614 5900 |
Richard Johnson, Benjamin Cryer |
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Luther Pendragon (Financial PR) | 020 7618 9100 |
Harry Chathli, Joe Quinlan, Elliot Fradd |
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Notes to Editors:
About 7digital (www.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. From years of being the largest independent producer of programming for the BBC and powering services for partners like Global Radio and Fender, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.