8 Mar 2022 07:00
8 March 2022
CentralNic Group plc
("CentralNic" or "the Company", or "the Group")
Acquisition of VGL completed
and
FT1000 inclusion
CentralNic Group plc (AIM: CNIC), the global internet platform company that derives recurring revenues selling online presence and marketing services, is pleased to announce that, further to the announcements made on the 28 February, it has now completed the acquisition of VGL Verlagsgesellschaft mbH, Berlin, Germany and its subsidiaries (together "VGL") from its former shareholders (the "Acquisition").
VGL has been acquired for an enterprise value of EUR 60 million, with an initial consideration of EUR 67 million (approx. US$75 million) inclusive of customary adjustments for cash and working capital. The Acquisition is expected to be double digit earnings enhancing for the financial year ending 31 December 2022, prior to any synergies being realised.
The Acquisition has been financed by an oversubscribed placing to institutional investors, raising gross proceeds of £42 million, at a fixed price of 120 pence per share (the "Issue Price"). The Placing has been complemented by an issue of additional senior secured callable bonds for a nominal value of EUR 21 million under its existing senior secured bond, listed on Oslo Børs, at a price of 100.8% of par value (the "Bond Issue"). The Bond Issue was subscribed for by Macquarie Principal Finance Pty Ltd, UK Branch, on the same terms and conditions as CentralNic's existing bond issue (together, the Placing, the Open Offer and the Bond Issue are the "Fundraising").
FT 1000: Europe's Fastest Growing Companies
In its 2022 edition, Financial Times has listed CentralNic among the top-250 fastest-growing companies and among the top-50 fastest-growing Technology companies in Europe. CentralNic has enjoyed a compound growth rate of 73% over the past 7 years, since its AIM IPO , taking it from $4m in revenues to over $400m. In 2021, CentralNic's organic growth was 39%, contributing to an overall 71% revenue growth.
Ben Crawford, CEO of CentralNic, said:
"We are delighted to see that CentralNic Group has been recognised as one of Europe's fastest-growing companies. Joining forces with VGL, a major milestone on the road to becoming a world-leading online services marketplace, will allow us to continue to deliver our outstanding growth performance in 2022 and beyond."
For further information:
CentralNic Group Plc Ben Crawford, Chief Executive Officer Don Baladasan, Group Managing Director Michael Riedl, Chief Financial Officer | +44 (0) 203 388 0600 |
Zeus Capital Limited (NOMAD & Joint Broker) Nick Cowles / Jamie Peel Dominic King / Rupert Woolfenden | +44 (0) 161 831 1512 +44 (0) 203 829 5000 |
Berenberg (Joint Broker) Mark Whitmore, Richard Andrews, Alix Mecklenburg-Solodkoff
| +44 (0)20 3207 7800
|
SEC Newgate (for Media) Bob Huxford / Isabelle Smurfit / Max Richardson | +44 (0) 203 757 6880 centralnic@secnewgate.co.uk
|
About CentralNic Group plc
CentralNic (AIM: CNIC) is a London-based AIM-quoted company which drives the growth of the global digital economy by developing and managing software platforms allowing businesses globally to buy subscriptions to domain names for websites and email, monetise their websites, and acquire customers online. Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and migrating them onto the CentralNic software and operating platforms.
CentralNic operates globally with customers in almost every country in the world. It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis.
For more information please visit: www.centralnicgroup.com
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