RCS - Asimilar Group PLC - Update re Magic Media Works Limited

AsimilarAnnouncement

09/11/2020 14:50

RNS Number : 7161E
  
Asimilar Group PLC
  
09 November 2020
  
 

Asimilar Group Plc
("Asimilar" or the "Company")
Update re Magic Media Works Limited 
 
Asimilar notes today's press release from Roxi, the flagship product of Magic Media Works Limited ("MMW"), an investee company within the Company's portfolio, announcing that pop legend Kylie Minogue is joining ROXi, as a ROXi Curator.  Kylie's personal playlists will be shared for the first time, exclusively on the ROXi Made-for-TV music entertainment experience.
Kylie will also be the star of ROXi's new TV ad campaign.
Kylie becomes a shareholder in MMW, alongside existing ROXi curators Robbie Williams, Sheryl Crow, Alesha Dixon.
Asimilar holds 1,646,682 ordinary shares in MMW, representing 7.61% percent of the issued share capital of MMW plus a £500,000 Convertible Loan Note. The Company has options over a further 95,000 ordinary shares in MMW.  
John Taylor, Chairman of Asimilar, said "Roxi continues to make excellent progress this year. Following previous announcement of the Sky Q deal, the company has now signed up Kylie Minogue to help achieve its vision of the only affordable in-home shared music entertainment experience that brings friends and family together."
Rob Lewis, Founder and CEO of Magic Media Works said "We're delighted to welcome Kylie to ROXi. She has sold more than 80 million albums worldwide with seven No.1 hits in the UK alone. Having Kylie join the ROXi business will help us to deliver on our vision to get everyone listening together, singing together, dancing together, playing together, with ROXi.
"Kylie's appointment follows the ROXi's recent rollout of its' unique music entertainment experience to millions of UK homes through Sky Q."
About ROXi
ROXi is 100% designed for the home, with its Unlimited Music catalogue of over 55 million songs from all the major and leading independent music rights holders, Music Games, Karaoke, Worldwide Radio and more, ROXi is the only affordable in-home shared music entertainment experience that brings friends and family together.
 



Asimilar Group plc








John Taylor, Non-Executive Chairman


via Buchanan




Peterhouse Capital Limited








Duncan Vasey / Lucy Williams


Tel: + 44 20 7220 9797




Buchanan Communications Limited








Richard Oldworth / Chris Lane


Tel: +44 (0) 20 7466 5000



 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
NRAFSWFLUESSELF