REG - Mission Group PLC - Issue of Contingent Consideration Shares & TVR

MissionAnnouncement

18/04/2024 10:00

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RNS Number : 1721L  Mission Group PLC (The)  18 April 2024

18 April 2024

The Mission Group plc

("MISSION" the "Company" or the "Group")

 

Issue of Contingent Consideration Shares, Total Voting Rights

 

The MISSION Group plc (AIM: TMG), creator of Work That Counts(TM), comprising
a group of digital marketing and communications Agencies, provides an update
on contingent consideration payments in relation to certain of the Group's
past acquisitions, Influence Sports & Media ("Influence") and Mezzo Labs
Ltd ("Mezzo"), first announced on 8 December 2022 and 14 February 2023
respectively, and more recently referenced in the Group's final results for
the year ended 31 December 2023 on 28 March 2024.

 

Under the terms of both acquisitions, deferred consideration contingent on the
financial performance of the ongoing businesses is now payable in respect of
the first financial year following completion of the acquisitions (the
"Contingent Consideration"). The Contingent Consideration is to be satisfied
by a combination of cash and Mission shares which has been agreed between the
Company and the vendors in accordance with the provisions of the underlying
acquisition agreements.  As such, the Company will be issuing 2,222,222
ordinary shares in aggregate  to the vendors of Influence and Mezzo at the
vendors' request, comprising (i) 1,000,000 existing ordinary shares held by
the Company's employee benefit trust and (ii) 1,222,222 new ordinary shares in
the Company to  be issued at a price of 22.5 pence per share based on the
Company's average share price over the 10 business days preceding 17 April
2024 (the "New Ordinary Shares").

 

Application has therefore been made for 1,222,222 New Ordinary Shares to be
issued to be admitted to trading on AIM with admission expected to take place
on 23 April 2024 ("Admission").

 

Following the allotment and issue of the New Ordinary Shares, there will be
92,238,119 ordinary shares in issue. The Company holds no ordinary shares in
treasury and therefore this figure may be used by shareholders of 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 under the Financial Conduct Authority's
Disclosure and Transparency Rules.

 

 

ENDS

 

 

ENQUIRIES

 

 James Clifton, Chief Executive Officer

 Giles Lee, Chief Financial Officer                        Via Houston

 The MISSION Group plc

 Simon Bridges/Andrew Potts/Harry Rees
 Canaccord Genuity Limited (Nominated Adviser and Broker)  020 7523 8000

 Kate Hoare / Alexander Clelland / India Spencer
 HOUSTON (Financial PR and Investor Relations)             0204 529 0549

 

 

NOTES TO EDITORS

 

MISSION is a collective of digital marketing and communications Agencies
employing over 1,100 people across 25 locations and 3 continents. The Group
successfully combines its diverse expertise to produce Work That Counts
TM for Clients, whatever their ambitions. Creating real standout, sharing
real innovation and delivering real growth for some of the world's biggest
brands. www.themission.co.uk
(https://eur03.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.themission.co.uk%2F&data=04%7C01%7C%7C2e2f37c792c7415afaad08d947a9c473%7Cb7e4783d67604ed5b0c156d405b9349b%7C0%7C1%7C637619616734507818%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C2000&sdata=5duO%2FyhgYrmP5I17h1eW4mAaM4%2BhySTEObFl5Dz5R%2Fs%3D&reserved=0)

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