Nordija contingent consideration

RNS Number : 6699G

Aferian PLC

31 March 2022

 

RNS

31 March 2022

AFERIAN PLC

("Aferian", the "Company" or the "Group")

Payment of contingent consideration from the acquisition of Nordija A/S

Aferian plc (LSE AIM: AFRN), the B2B video streaming solutions company, today announces that part of the contingent consideration in relation to the Nordija A/S acquisition in May 2021 has become payable.

Following successful completion of the targets to date associated with the contingent consideration, the Company will pay an amount of €0.5m ($0.6m), of which €0.1m ($0.1m) will be settled in cash.  The remaining €0.4m ($0.5m) will be settled through the issue of 222,430 new ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at the price agreed at the date of the original acquisition of 148 pence per Ordinary Share (the "Contingent Consideration Shares").  The Contingent Consideration Shares have a lock-in period of 24 months from the date of the original acquisition.  At this point there remains a final amount of contingent consideration for €0.1m ($0.1m) which is expected to be satisfied in the second half of FY22, at which point a further announcement will be made.

Issue of Equity

Application has been made for the admission of the Contingent Consideration Shares to trading on the AIM market of London Stock Exchange plc ("Admission").  It is expected that Admission will take place at or around 8.00am (London time) on 5 April 2022.  The Contingent Consideration Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the Company's existing issued Ordinary Shares.

On Admission, the Company will have 86,641,840 Ordinary Shares in issue (including 1,531,458 Ordinary Shares held in treasury).  Therefore, the total number of voting rights in the Company is 85,110,382.  This number may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information please contact:  

Aferian plc	[phone]
Mark Wells, Chairman Donald McGarva, Chief Executive Officer  Mark Carlisle, Chief Financial Officer
Investec plc	[phone]
David Anderson / Patrick Robb / Nick Prowting / Cameron MacRitchie
FTI Consulting (Financial communications)	[phone]
Matt Dixon / Elena Kalinskaya

About Aferian plc  

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our end-to-end solutions bring live and on-demand video to every kind of screen. We create the forward-thinking solutions that our customers need to drive subscriber engagement, audience satisfaction, and revenue growth.

It is our belief that successful media companies and services will be those that are most consumer-centric, data driven and flexible to change. We focus on innovating technologies that enable our customers stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering end-to-end modern TV and video experiences to consumers. By anticipating technological and behavioural audience trends, our software solutions empower our customers to heighten viewer enjoyment, drive growth in audience share and ultimately their profitability.

Aferian plc has two operating companies: 24i, which focusses on streaming video experiences, and Amino, which connects Pay TV to streaming services. Our two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. Our solutions deliver modern TV and video experiences every day to millions of viewers globally, via our growing global customer base of over 500 service providers.

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM: symbol AFRN). Headquartered in Cambridge, UK, the Company has over 350 staff located in offices in San Francisco, Amsterdam, Helsinki, Copenhagen, Madrid, Porto, Brno, Buenos Aires, and Hong Kong. For more information, please visit  www.aferian.com .

 

END

 

 

MSCSDSFWSEESEFD