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Zinc Media Group PLC - Result of General Meeting

RNS Number : 8067C
Zinc Media Group PLC
12 February 2020

12 February 2020

Zinc Media Group plc

("Zinc Media" or the "Company")

Result of General Meeting

Zinc Media Group plc, (AIM: ZIN), a leading TV and multimedia content producer, is pleased to confirm that at the General Meeting held earlier today in connection with its proposed placing of £3.5 million (gross), preference share conversion, debt conversion, debt variation, article amendments and share consolidation, all resolutions were duly passed. 

The participation by Herald in the Placing and Preference Share Conversion will result in an increase in Herald's shareholding in the Company to 3,187,830 New Ordinary Shares, equivalent to 40.30 per cent. of the Enlarged Share Capital. The participation by the John Booth Parties (as appropriate) in the Placing and Debt Conversion will result in an increase in the shareholding in the Company of the John Booth Parties to 346,439 New Ordinary Shares, equivalent to 4.38 per cent. of the Enlarged Share Capital. Accordingly, following completion of the Proposals, the shareholding of the Concert Party will increase, in aggregate, to 3,534,269 New Ordinary Shares, equivalent to a total of 44.68 per cent. of the Enlarged Share Capital.

Without a waiver of the obligations under Rule 9 of the Code, the acquisitions set out above would require the Concert Party to make a general offer for the entire issued and to be issued share capital of the Company not already held by the Concert Party. Included within the Resolutions proposed at the General Meeting was the Whitewash Resolution, which sought Independent Shareholder approval for the Waiver. The Whitewash Resolution was duly passed on a poll at the General Meeting.

Application has been made to the London Stock Exchange for the Placing Shares and the Conversion Shares to be admitted to trading on AIM. It is expected that Admission will become effective at 8.00 a.m. tomorrow, 13 February 2020. The Share Consolidation, which was also approved at the General Meeting, will also take effect from 8.00 a.m. tomorrow with trading in the Company's New Ordinary Shares taking place under a new ISIN, GB00BJVLR251.

Capitalised terms used but not defined in this announcement have the meanings set out in the announcement of 17 January 2020 released at 7.00 a.m. entitled 'Launch of Placing via Accelerated Bookbuild'.

For further information, please contact:

Zinc Media Group plc

+44 (0) 20 7878 2311

Mark Browning, CEO / Will Sawyer CFO


N+1 Singer (NOMAD and Joint Broker to Zinc Media)

+44 (0) 20 7496 3000

Mark Taylor / Lauren Kettle

Peterhouse Capital Limited (Joint Broker to Zinc Media)

+44 (0) 20 7469 0932

Martin Lampshire / Duncan Vasey / Eran Zucker

About Zinc

Zinc Media Group plc is a leading British based TV and content creation company and operates 6 TV labels and a non-TV content division called Zinc Communicate.

The six award winning and critically acclaimed television production labels include: Blakeway, Brook Lapping, Films of Record, Blakeway North, Reef Television and Tern Television, whose brands produce television and radio programmes for both UK and international broadcasters.

Zinc Communicate specialises in creating B2B communications strategies and behaviour change programmes, campaigns and resources for partners, businesses and government departments.

For further information on Zinc Media please visit: http://www.zincmedia.com/ 


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Quick facts: Zinc Media

Price: 59

Market: AIM
Market Cap: £4.69 m

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