REG - Digitalbox PLC - Completion of Acquisition of Assets

DigitalboxAnnouncement

01/09/2023 07:00

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RNS Number : 0298L  Digitalbox PLC  01 September 2023

1 September 2023

Digitalbox plc

("Digitalbox" or the "Company")

 

Completion of Acquisition of Assets from Media Chain Group Limited

Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which
owns Entertainment Daily, The Daily Mash, The Tab, and The Poke is pleased to
announce that, further to its announcement on 1 August 2023, it has completed
the acquisition of certain digital assets of 99 Problems, The Life Network
Shopping and 90's Life from Media Chain Group Limited (part of "Social Chain
AG") (the "Acquisition"). The final agreement resulted in the 99 Problems
Instagram page and 90's Life Facebook page forming part of the Acquisition
 and Student Problems removed.

 

The Acquisition was completed at improved terms for a total of $600,000 in
cash without the issue of the shares as previously stated. The Acquisition is
being undertaken via Digitalbox Publishing Limited, which is wholly owned by
the Company. The deal is expected to be earnings enhancing as the engagement
is built with the 20m followers Digitalbox now has within the social media
channels.

 

END

 

Market abuse regulation: This announcement contains inside information for the
purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
The person responsible for arranging for the release of this announcement on
behalf of the Company is James Carter, Chief Executive Officer.

Enquiries:

 Digitalbox                                                  c/o SEC Newgate
 James Carter, CEO

 Panmure Gordon                                              Tel: 020 7886 2500

 (Nominated Adviser, Financial Adviser & Joint Broker)
 James Sinclair-Ford / Ivo Macdonald (Corporate Advisory)
 Rupert Dearden (Corporate Broking)

 Leander Capital Partners (Joint Broker)                     Tel: 020 7195 1400
 Alex Davies / Hugh Kingsmill Moore

 SEC Newgate (Financial Communications)                      Tel: 07970 664807
 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 trading brands of "Entertainment Daily", "The Daily
Mash", "The Tab", and "The Poke".

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.

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

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.   END  ACQUAVBROKUWOAR