Next Fifteen Communications Group: Additional L...
Next Fifteen Communications Group: Additional Listing
Next Fifteen Communications Plc
Acquisitions of minority shareholdings in Beyond and Republic
Associated additional listing
Next Fifteen Communications Group plc ('Next 15' or the 'Company'), the digital communications group, announces that on 02 April 2015 it acquired the remaining 32.8% minority interests in Beyond Corporation Limited and Beyond International Corporation (“Beyondâ€), its digital experience design agency, for an aggregate consideration of £2.37m. The consideration comprises £2m in cash with the balance being satisfied by the issue of 204,931 new Ordinary shares of 2.5p each in the Company (“Ordinary Sharesâ€) to the sellers..
On 21 January 2014, Next 15 announced that it had acquired a 51% interest in Republic Publishing Limited (“Republicâ€), a content marketing business based in London. Next 15 is pleased to announce that on 02 April 2015 it acquired the remaining minority interest in Republic for an aggregate consideration of £3.0m, of which £1.8m is being paid in cash now, £500,000 is being satisfied by the issue to the sellers of 302,094 Ordinary Shares and the balance of £700,000 in cash and Ordinary Shares will be deferred until 2016.
The acquisitions are expected to be immediately earnings enhancing for the Company.
The Ordinary Shares will be issued and allotted to the sellers on 10 April 2015 and will rank pari passu with the Company’s existing ordinary shares. Application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to AIM and it is expected that admission will take place on 10 April 2015. Following the issue and allotment of the new Ordinary Shares as described above, the Company will have 65,394,143 Ordinary Shares in issue. No shares are held in treasury.
Enquiries:
Next Fifteen Communications Group plc
Tim Dyson, CEO +1 415 350 2801
Peter Harris, CFO +44 (0)20 8846 0853
Investec Bank plc
Keith Anderson / Matt Lewis / Dominic Emery +44 (0) 20 7597 4000
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