REG - Digitalbox PLC - CFO designate appointment and Strategic Review

DigitalboxAnnouncement

28/11/2024 07:00

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RNS Number : 9324N  Digitalbox PLC  28 November 2024

28 November 2024

Digitalbox plc

("Digitalbox" or the "Company" or the "Group")

 

CFO designate appointment and Strategic Review update

 

Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which
owns leading websites, including Entertainment Daily, The Daily Mash, The Tab,
The Poke, TV Guide and Emmerdale Insider, has appointed Richard Spilsbury as
Chief Finance Officer and Company Secretary, and provides an update on the
Strategic Review process, announced on 4 October 2024.

 

CFO Appointment

Richard Spilsbury has been appointed designate Chief Finance Officer and
Company Secretary starting on 1 January 2025. It is intended that Richard will
also join the Board as a Director at 1 January 2025, subject to satisfactory
completion of due diligence by the Company's Nominated Adviser (pursuant to
the AIM Rules for Companies and AIM Rules for Nominated Advisers).  A further
announcement, including the requisite Schedule 2(g) disclosures required under
the AIM Rules for Companies, will be made in due course upon Richard's
appointment to the Board.

 

Richard will replace David Joseph who tendered his resignation in October.
David will depart the Company and the board on December 31(st) but will remain
on hand until 31(st) March 2025 to ensure an orderly handover.

 

Richard brings significant experience working within a listed company, from
his time at Future plc where he spent 14 years to 2014, including roles as
Finance Director and Group Corporate Development Director. Subsequent to his
time at Future, among other roles, he was Corporate Development Director at
Play Sports Group, which was focussed on sports digital video and marketing,
and was acquired by Discovery Inc in 2019. He is Founder and currently CEO of
corporate development advisory and corporate finance firm, Link Stone
Advisory.

 

Strategic Review Update

The Strategic Review has progressed to a 'root and branch' appraisal of the
existing business and the opportunities within it. Richard Spilsbury and Link
Stone Advisory have been retained to support the executive in delivering the
review to ensure the underlying business is not disrupted during the all
important Q4 period. Richard will also continue to work with the Non-Executive
Directors to conclude the review in the new year.

 

James Carter, CEO, Digitalbox, said: "Richard brings a wealth of experience
to the business, and will help us from both a financial perspective and also
contribute to our thinking around strategy.  We are looking forward to
working with him."

 

Enquiries:

 

 Digitalbox                                              c/o SEC Newgate
 James Carter, CEO
 Panmure Liberum (Nominated Adviser & Joint Broker)      Tel: 020 7886 2500
 James Sinclair-Ford

 Rupert Dearden

 Dougie McLeod

 Rauf Munir

 Leander Capital Partners (Joint Broker)                 Tel:  07786150915
 Alex Davies

 SEC Newgate (Financial PR)                              Tel: 07540 106 366
 Robin Tozer / Molly Gretton                             digitalbox@secnewgate.co.uk

 

About Digitalbox plc

Based in the UK, Digitalbox is a 'pure-play' digital media business with the
aim of profitable publishing at scale on mobile platforms.

 

Digitalbox operates the following trading brands, "Entertainment Daily", "The
Daily Mash", "The Tab", "The Poke", "TV Guide" and "Emmerdale
Insider". Entertainment Daily produces and publishes
online UK entertainment news covering TV, showbiz and celebrity news. The
Daily Mash produces and publishes satirical news content. The Tab is
the UK's biggest youth culture site fuelled by students. The Poke expertly
curates and editorialises the funniest content from around the web and social
media. TV Guide serves as the definitive guide to what is on TV. Emmerdale
Insider charts the twists and turns of this ever present British soap staple.

 

Digitalbox primarily generates revenue from the sale of advertising in and
around the content it publishes. The Group's optimisation for mobile enables
it to achieve revenues per session significantly ahead of market norms for
publishers on mobile.

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