REG-Next 15 Group plc Statement re Intention to permanently cease operations at Mach49

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Statement re Intention to permanently cease operations at Mach49

 

Next 15 Group plc

(“Next 15” or the “Group” or “the Company”)

Intention to permanently cease operations at Mach49

Next 15 (AIM:NFG), the tech and data driven growth consultancy, today
announces that it has initiated a process to permanently cease operations at
one of its subsidiaries, Mach49 LLC and its associated entities
(“Mach49”).

In line with the Group’s previously announced strategy to simplify and
strengthen the business, Next 15, supported by external advisors, has
initiated an orderly wind down of Mach49’s operations. The Group anticipates
that Mach49 will cease operations prior to the end of the FY26 financial year.
Consequently, Next 15 intends to report Mach49 as a discontinued operation in
its FY26 financial statements.

Further to the Company’s announcement on 25 June 2025 regarding Mach49, the
Company and certain of its executives have entered into arbitration
proceedings with the former members of Mach49 in relation to the remaining
earnout payments. The Company maintains its position regarding the non-payment
of the remaining earnout and has counterclaimed for previously paid earnout
payments. The Company will provide updates on the proceedings as and when
appropriate.

The Group’s guidance for its continued operations for FY26 remains
unchanged, with adjusted operating profit for the year remaining in-line with
market expectations(1).

The Company’s next scheduled announcement will be on 30 September 2025, when
the Group will release its half-year results for FY26.
 For further information, please contact:                                                     
                                                                                              
 Next 15 Group plc                                                                            
 
Sam Knights, Chief Executive Officer      
                                                 
                                            
+44 (0)7725 954 360                              
 Mickey Kalifa, Chief Financial Officer     +44 (0)7584 236 999                               
 Deutsche Numis (Nomad & Joint Broker)      +44 (0)20 7260 1000                               
 Mark Lander                                                                                  
 Hugo Rubinstein                                                                              
                                                                                              
 Berenberg (Joint Broker)                   +44 (0)20 3207 7800                               
 Ben Wright                                                                                   
 Mark Whitmore                                                                                
                                                                                              
 MHP                                        Next15@mhpgroup.com (mailto:Next15@mhpgroup.com)  
 Oliver Hughes                              +44 (0)7885 224532                                
 Eleni Menikou                              +44 (0)7701 308818                                
 Veronica Farah                                                                               
                                                                                              
 (1)Market consensus compiled by the Company for FY26 adjusted operating profit               
 is £67.5m                                                                                    


THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET
ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.



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Next 15 Group plc


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