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23 Jan 2019 12:00
One Media iP Group Plc - New Contract - ClarificationOne Media iP Group Plc - New Contract - Clarification
PR Newswire
London, January 23
23 January 2019
One Media iP Group Plc
("One Media", or “OMiP” or the "Company")
New Contract - clarification
Further to the notification made on 21 January 2019 titled ‘New Contract’, the Company provides further disclosure on the terms.
The contract refers to a recoupable advance of US$1,000,000 (the “Advance”) that has been made by one of the Company’s distributors (the “Distributor”). The Advance will be used for general working capital purposes.
The Advance covers the period up until 31 December 2020 and is recoupable by the Distributor against future sales by the Company. In the event that the requisite sales are not met, the Distributor has the option but not the obligation to immediately recoup the outstanding amount.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and the person who arranged for release of this announcement on behalf of the Company was Steve Gunning, Company Secretary.
| One Media iP Group Plc | |
| Michael Infante - Chief Executive Ivan Dunleavy - Chairman www.omip.co.uk | +44 (0)175 378 5501 +44 (0)175 378 5500 |
| Cairn Financial Advisers LLP (Nominated Adviser) | +44 (0)20 7213 0880 |
| Liam Murray / Jo Turner | |
| Panmure Gordon (UK) Limited (Broker) | +44 (0)20 7886 2500 |
| James Stearns | |
| Yellow Jersey (PR & IR) | +44 (0)20 3004 9512 |
| Georgia Colkin Joe Burgess |
About One Media iP Group Plc
One Media is a UK listed digital media content provider that exploits intellectual property rights around music, video and copyright technology. Driven by the growth in streaming, the Company is dedicated to expanding the business through acquisition of new content and promotion of its existing catalogue.
The Company’s consumer-led B2B operation exploits a growing collection of music and video content by recompiling it for sale via more than 600 digital music and video store groups across the globe.
One Media focuses on music performed by well-known artists from every genre, from classical, Rock, Pop through to Soul and R&B as well as celebrity spoken word. The Company also owns the rights to Men & Motors, available for viewing on One Media’s YouTube Channel. One Media’s library of content is available for TV, movies, adverts and websites requiring synchronised music.
Additionally, the Company has developed the Technical Copyright Analysis Tool (“TCAT”). TCAT is a SaaS platform developed as a means of automating the difficult and time consuming task of monitoring for unauthorised use of digital music releases.
For further information: www.omip.co.uk
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