Last checked at 2 Oct 2020 07:00
One Media iP Group Plc - Payment of deferred final paymentOne Media iP Group Plc - Payment of deferred final payment
PR Newswire
London, October 1
2 October 2020
One Media iP Group Plc("One Media” or the "Company")
Payment of deferred final payment under acquisition agreement
One Media iP Group Plc (AIM: OMIP), the digital music rights acquirer, publisher and distributor announces that further to the announcement made on 19 September 2019 in relation to the acquisition of the entire music catalogue of American composer and solo piano artist, Philip Wesley, the Company has now paid the final US$100,000 that was retained as a deferred payment based on the successful performance of the deal.
Michael Infante, Chief Executive Officer of One Media iP, commented: “We are delighted to have completed the final part of this transaction, which is our largest IP deal to date. The catalogue of Philip Wesley has been a fantastic addition to our portfolio and is in line with our strategy of acquiring catalogues with proven popularity, longevity and growth in streaming revenue.
“Following our successful raise of £6m in August 2020, we are now in the process of evaluating further acquisition opportunities, which would be executed primarily through our Harmony IP asset release programme. At the same time we are also looking at possibilities to scale our technical analysis copyright tool, TCAT, for wider use across the music industry. We look forward to updating the market on our progress in due course.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this information is Michael Infante, Chief Executive Officer of the Company.
-Ends-
| One Media iP Group Plc Michael Infante - CEO Claire Blunt – Chairman | +44 (0)175 378 5500 +44 (0)175 378 5501 |
| Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray Jo Turner Ludovico Lazzaretti | +44 (0)20 7213 0880 |
| Cenkos Securities plc (Broker) Max Hartley Max Gould Michael Johnson (Sales) | +44 (0)20 7397 8900 |
| Yellow Jersey PR (PR & IR) Charles Goodwin Annabel Atkins | +44 (0)20 3004 9512 |
About One Media iP Group Plc
One Media is a digital music rights acquirer, publisher and distributor. The Group specialises in purchasing and monetising intellectual property rights with proven, repeat income streams. One Media adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify.
One Media’s music is also widely used for synchronisation in film, TV and digital gaming whilst its video content is primarily viewed on YouTube where One Media operates over 20 YouTube channels as a certified partner.
One Media is listed on the London Stock Exchange on the AIM index, under the symbol ‘OMIP’.
For further information, please visit www.omip.co.uk and www.tcat.media
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi?ed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re?ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.