Proposed Placing

RNS Number : 9419L

Rightster Group PLC

30 April 2015

 



Rightster Group plc
("Rightster", the "Group", or the "Company")

Proposed Placing

Rightster Group plc (LSE AIM: RSTR), the cloud-based global video distribution and monetisation network, today releases an update on its key business developments for the first quarter of 2015 and details of a proposed placing.

Further to the announcement made on 25 February 2015, the Company announces that it has made an encouraging start to the year, with growth in average monthly video views estimated at 1.6 billion for Q1 2015. In addition, by the end of Q1 2015 the Company surpassed 72 million subscribers and reached 124 million unique users worldwide across its YouTube Network (a 125% increase from the end of Q1 2014).

In order to finance the Company through to cashflow breakeven (expected in 2016) and to continue the above growth, the Company also announces that it proposes to raise approximately £5 million by means of a placing of additional equity capital at the current mid-market price of 18 pence per ordinary share (the "Placing").  In view of this proposal, the Company now intends to announce its preliminary results for the year ended 31 December 2014 and details of the Placing in early May 2015.

ENDS

For further information visit www.rightster.com or please contact:

Rightster Group plc	via Newgate
Patrick Walker CEO or Niall Dore, CFO
Cenkos Securities plc	Tel: [phone]
Max Hartley/Mark Connelly (Nomad)
Newgate	Tel: [phone]
Tim Thompson/Robyn McConnachie/Lois Engstrand

 

END

 

 

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