REG-MediaZest Plc: Fundraise to raise £120,000

MediazestAnnouncement

08/01/2024 07:15

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596/2014 (AS AMENDED) AS IT FORMS PART OF THE DOMESTIC
LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 (AS AMENDED). UPON PUBLICATION OF THIS ANNOUNCMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

8 January 2024

MediaZest Plc

("MediaZest", the "Company” or the “Group”; AIM: MDZ)

Fundraise to raise £120,000

MediaZest (AIM: MDZ), the creative audio-visual company, is pleased to
announce that it has raised a total of £120,000 (before expenses) by means of
a Fundraise (the "Fundraise") via the issue of 300,000,000 ordinary shares of
0.01p in the capital of the Company (the "Ordinary Shares") to new and
existing investors (the "Fundraise Shares") at a price of 0.04 pence per
Fundraise Share (the “Issue Price”).

The Fundraise comprises a placing (the "Placing"), which was undertaken by the
Company's sole broker Hybridan LLP, and a subscription (the "Subscription")
for Fundraise Shares, details of which are set out below. 

Details of the Fundraise

The Company has raised £120,000 (before expenses), via the Placing of
250,000,000 Fundraise Shares and a Subscription to certain private investors
for 50,000,000 Fundraise Shares, each at the Issue Price.

The Subscription and Placing are subject to standard terms and conditions and
are also each conditional upon the other. The Fundraise is also conditional
upon the admission of the Fundraise Shares to trading on AIM
(“Admission”).

The Issue Price represents a discount of approximately 6 per cent. to the
closing middle market price of 0.0425 pence per Ordinary Share on 5 January
2024, being the latest practicable date prior to the date and time of this
Announcement.

Use of Proceeds

The net proceeds of the Fundraise will be deployed as follows:
* investment in business development including marketing and sales
recruitment; 
* to support growth of the Company’s Dutch subsidiary to exploit new
opportunities in the EU; and
* to provide the Group with additional working capital.
Current Trading

The Company continues to sign regular repeat work on projects – often on a
store by store or dealership by dealership basis. The value of MediaZest’s
annualised recurring revenue contracts has increased, with contracts currently
running at around £700k per year on an annualised basis, some of which are
multi-year deals.  In addition, new European installations are predominantly
geared towards strong recurring revenue streams and 3-year deals.

The operational business has multiple long term blue-chip clients, which are
primed for future growth. The Company is experiencing expanding markets in the
key sectors in which it operates and believes it has an opportunity to build a
best in class roll up business, attractive to larger players in the medium
term.

The Dutch subsidiary, which was established in December 2022, is already
delivering projects and EU project orders were received in excess of
€500,000 in calendar year 2023.

Application for Admission

The Fundraise Shares will be credited as fully paid and will rank pari passu
in all respects with the existing Ordinary Shares, including the right to
receive any dividends and other distributions declared on or after the date on
which they are issued.

Application for the Admission of the Fundraise Shares has been made and it is
expected that Admission will be effective on or around 8.00 am on 10 January
2024.

Geoff Robertson, CEO of MediaZest plc, commented: “We are delighted to have
raised these additional funds from new and existing investors, to invest in
business development and to support growth of the Company’s Dutch
subsidiary. At the end of 2023, we had multiple large-scale projects in
deployment or negotiation and over the last 12 months we have seen that the
maturing market in digital signage is opening up opportunities to consolidate.
Moreover, the opportunity to grow in Europe through our new subsidiary has
been exceeding our initial expectations.

As we head into 2024, we believe we are well positioned to prosper in each of
the key markets in which we operate, seeing growth as follows; Retail
 focusing on better stores with enhanced digital experiences; Automotive by
providing solutions as the industry transitions to EV and digital sales
models; and the Corporate Office market as hybrid working continues to evolve
by helping it to manage a greater reliance on audio visual technologies.”

Total voting rights

Following Admission, the Company's total issued share capital will comprise of
1,696,425,774 Ordinary Shares. The Company does not hold any Ordinary Shares
in treasury. Therefore, the total number of Ordinary Shares with voting rights
in the Company will be 1,696,425,774. This figure 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 to
their interest in, the share capital of the Company following Admission.

 Enquiries:                                         
 Geoff Robertson                     0845 207 9378  
 			Chief Executive Officer                         
 			MediaZest Plc                                   
 David Hignell/Adam Cowl             020 3470 0470  
 			Nominated Adviser                               
 			SP Angel Corporate Finance LLP                  
 Claire Noyce                        020 3764 2341  
 			Broker                                          
 			Hybridan LLP                                    
                                                    

Notes to Editors:

About MediaZest

MediaZest is a creative audio-visual systems integrator that specialises in
providing innovative marketing solutions to leading retailers, brand owners
and corporations, but also works in the public sector in both the NHS and
Education markets. The Group supplies an integrated service from content
creation and system design to installation, technical support, and
maintenance. MediaZest was admitted to the London Stock Exchange's AIM market
in February 2005. For more information, please visit www.mediazest.com



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