Last checked at 4 Aug 2022 07:00
4 August 2022
musicMagpie plc
("musicMagpie", "the Company" or "the Group")
Allotment of Shares
musicMagpie, a circular economy pioneer specialising in refurbished consumer technology in both the UK and US, announces that it has issued 36,267 new ordinary shares of 1 pence each in the Company ("New Ordinary Shares") in settlement of employee share option plans.
Applications have been made for the 36,267 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. BST on or around 5 August 2022.
The total number of ordinary shares in issue following Admission will be 107,808,287. The Company holds no ordinary shares in treasury. Therefore the total number of ordinary shares with voting rights in the Company will be 107,808,287.
The above figure of 107,808,287 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
For further information please contact:
musicMagpie plc Martin Hellawell, Non-Executive Chairman Steve Oliver, Chief Executive Matthew Fowler, Chief Financial Officer | +44 (0) 870 333 7101 |
Peel Hunt LLP (Nominated Adviser and Joint Broker) Paul Gillam Tom Ballard James Smith | +44 (0) 20 7418 8900 |
Shore Capital Stockbrokers (Joint Broker) Malachy McEntyre Mark Percy Daniel Bush | +44 (0) 20 7408 4090 |
Powerscourt (Financial Public Relations) Rob Greening Genevieve Ryan Sam Austrums | +44 (0) 20 7250 1446 |
About musicMagpie
Operating through two trusted brands - musicMagpie in the UK and decluttr in the US - musicMagpie's core strategy is simple: to provide consumers with a smart, sustainable and trusted way to buy, rent and sell refurbished consumer technology and physical media products with sustainability running to the very heart of its operations. Founded in 2007, the Group has an established presence in the UK, with operations in Stockport, Greater Manchester, and in the US in Atlanta, Georgia.
musicMagpie has a strong environmental and social focus, as demonstrated by its trademarked 'smart for you, smart for the planet' ethos. Over 400,000 consumer technology products were resold in FY21. In addition, the Group re-sells approximately 2,500 tonnes of books and disc media each year that could have ended up as waste. During 2021, musicMagpie's UK consumer tech and disc media customers, along with its trade partners, helped to save over 50,000 tonnes of CO2 by buying, selling and renting with the Group - an amount equivalent to providing heating for over 18,000 homes. The Group has been given the London Stock Exchange's Green Economy Mark in recognition of its contribution to the global green economy.
When selling to musicMagpie, the customer is offered a fixed valuation via the website, provided with free logistics to ship the products and (subject to it being 'as described') receives payment for their product on the day of arrival at the Group's warehouse. The Group also recently partnered with Asda to give customers the option of using its SMARTDrop Kiosks in store for a fast and easy way to recycle phones for instant cash. Customers purchasing from musicMagpie receive branded refurbished product for a fraction of the price of buying new.
The Group has the highest number of seller reviews on both Amazon and eBay and has consistently achieved extremely positive feedback scores. The Group also has a 4.5* rating on UK Trustpilot with over 230,000 reviews.
For further information please visit: www.musicmagpieplc.com