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Centralnic Group PLC

Issuance of Additional Consideration Shares

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RNS Number : 1670C
CentralNic Group PLC
14 June 2019
 

14 June 2019


 

CentralNic Group plc

("CentralNic" or "the Company" or "the Group")

 

KeyDrive SA Additional Consideration Determined

 

Issuance of Additional Consideration Shares

 

CentralNic Group PLC (AIM: CNIC), the internet platform that derives revenue from the worldwide sales of internet domain names, is pleased to announce that its acquisition of KeyDrive SA on 16 July 2018, has exceeded the performance expectations set for FY2018.

 

As a result of this performance, USD 6,834,000 Additional Consideration attributable to the FY2018 objectives is payable to Inter.Services. Fifteen per cent, equaling USD 1,025,100 have been settled in cash.

 

The remainder of the Additional Consideration attributable to FY2018 objectives will be settled by issuing 7,384,978 Additional Consideration Shares. Inter.Services holding will increase from c.16.4% to c.19.9% of the issued share capital of the Company.

 

Application has been made to the London Stock Exchange for a total of 7,384,978 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 18 June 2019. The Ordinary Shares shall rank pari passu with the existing ordinary shares in the Company. Following Admission, the Company's enlarged issued share capital comprises of 178,137,780 Ordinary Shares with one voting right per share.  There are no shares held in treasury. The total number of voting rights in the Company is therefore 178,137,780.

 

This figure of 178,137,780 Ordinary Shares 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 and Transparency Rules.

 

Ben Crawford, CEO of CentralNic, commented: "We have been delighted with the performance of KeyDrive's businesses and our progress with the integration, which is tracking in line with our plans. This is testament to CentralNic's successful acquisition strategy and ability to expertly and efficiently integrate businesses."

 

 

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 / Neil Shah / Alex Price / Rajpal Padam

+44 (0)20 7710 7600

 

 

Newgate Communications (for Media)

Bob Huxford

Tom Carnegie

Robin Tozer

+44 (0) 203 757 6880

[email protected]

 

 

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 subscriptions to domain names, used for their own websites and email, as well as for protecting their brands 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 migrating them onto the CentralNic software and operating platforms. 

 

CentralNic operates globally with customers in almost every country in the world.  It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis. 

 

For more information please visit: www.centralnicgroup.com 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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