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CentralNic Group PLC - Issuance of additional consideration shares

RNS Number : 8522D
CentralNic Group PLC
02 November 2020
 

2 November 2020

CentralNic Group plc

("CentralNic" or the "Company")

 

KeyDrive SA Additional Consideration Determined

and

Issuance of Additional Consideration Shares

 

CentralNic Group plc (AIM: CNIC), the global internet platform that derives revenue from the worldwide sales of internet domain names and related services, announces the issuance of additional consideration shares relating to the performance of KeyDrive SA.

 

The acquisition of KeyDrive SA on 2 August 2018, has performed well against is highly ambitious targets set for FY2019. As a result of this performance, USD 2,245,000 Additional Consideration attributable to the FY2019 objectives is payable to Inter.Services GmbH ("Inter.Services"). Fifteen per cent, equalling USD 336,750 will be settled in cash. The remainder of the Additional Consideration attributable to the FY2019 objectives will be settled by issuing 1,685,723 Additional Consideration Shares. Inter.Services may still earn up to USD 1,423,000 Additional Consideration in future under the terms of the SPA.

 

Application has been made to the London Stock Exchange for a total of 1,685,723 Ordinary Shares issued pursuant to the Additional Consideration to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8:00 a.m. on 3 November 2020. The Ordinary Shares shall rank pari passu with the existing ordinary shares in the Company.

 

Following Admission, the total number of Ordinary Shares in issue and voting rights in the Company will be 233,738,026. The Company does not hold any shares in Treasury. This may be used by shareholders in the Company as the denominator for the calculations by which they will 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. Inter.Services' holding will increase from c.15.23% to c.15.84% of the issued share capital of the Company.

 

Ben Crawford, CEO of CentralNic, commented: "We have been delighted with the performance of KeyDrive ever since its acquisition over two years ago. This is an enduring testament to CentralNic's ongoing successful acquisition strategy and ability to expertly and efficiently integrate businesses."

ENDS

 

For further information:  

CentralNic Group Plc

Ben Crawford, Chief Executive Officer

Don Baladasan, Group Managing Director

Michael Riedl, Chief Financial Officer

 

 +44 (0) 203 388 0600


Zeus Capital Limited (NOMAD and Joint Broker)

Nick Cowles / Jamie Peel (Corporate Finance)

John Goold / Rupert Woolfenden 

(Institutional Sales)

 

+44 (0) 161 831 1512

+44 (0) 203 829 5000

Stifel (Joint Broker)

Fred Walsh / Alex Price

+44 (0)20 7710 7600

 

 

Newgate Communications (for Media)

Bob Huxford

Tom Carnegie

Isabelle Smurfit

 

+44 (0) 203 757 6880

centralnic@newgatecomms.com

 

 

About CentralNic Group plc 

 

CentralNic (AIM: CNIC) is a London-based AIM-listed company which drives the growth of the global digital economy by developing and managing software platforms allowing businesses globally to buy the subscriptions to domain names and web services they require to realise their aspirations online.  Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and integrating the acquired software and operating platforms. CentralNic operates globally with customers in almost every country in the world, and is committed to building a better global digital economy.

 

For more information please visit: www.centralnicgroup.com 

 

 

 

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