REG - Zinc Media Group PLC - Payment of The Edge earnout and issue of shares

Zinc MediaAnnouncement

21/03/2025 07:15

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RNS Number : 5791B  Zinc Media Group PLC  21 March 2025

 

21 March 2025

Zinc Media Group plc

("Zinc" or the "Group")

Payment of The Edge earnout and issue of shares

Zinc Media Group plc (AIM: ZIN), the award-winning television, brand and audio
production group, is pleased to announce that, following a strong trading
performance by The Edge Picture Co Limited ("The Edge"), resulting in the
achievement of certain earnings targets, a payment of £0.40m is payable to
the vendors of The Edge (the "Vendors") in accordance with the terms of the
share purchase agreement (the "SPA").

As per the SPA, £183,379 will be settled in cash with the balance settled by
the allotment of 342,208 new ordinary shares (the "Earnout Shares") to the
Vendors based on a share price of 0.6423 pence per share, being the average
market price for the 30 business days up to and including 19 March 2025. The
Earnout Shares are subject to a 12 month lock-in period and orderly market
provisions under the SPA. The cash element of the earnout payment will be
satisfied from the Group's existing resources.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for all the Earnout
Shares to be admitted to trading on AIM, with dealings expected to commence at
8 a.m. on or around 26 March 2025 ("Admission"). Following Admission, Zinc
Media will have a total of 24,687,210 ordinary shares of 0.125 pence each in
issue. Zinc Media does not hold any shares in treasury. Therefore, this figure
may be used by shareholders as the denominator for calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, Zinc Media under the FCA's Disclosure Guidance and
Transparency Rules.

Mark Browning, Chief Executive Officer, commented:

"We are very pleased with the progress of The Edge in the period
post-acquisition. The Edge are performing ahead of acquisition expectations,
have integrated well into the Group and have further growth opportunities
ahead."

 

For further information, please contact:

Zinc Media Group
plc
           +44 (0) 20 7878 2311

Mark Browning, CEO / Will Sawyer, CFO

www.zincmedia.com (http://www.zincmedia.com)

Singer Capital Markets (Nominated Adviser and Broker)
                                +44 (0) 20 7496
3000

James Moat / Sam Butcher

MHP
 
           +44 (0) 7817 458804

Oliver Hughes / Eleni Menikou / Ollie Hoare

 

About Zinc Media Group

Zinc Media Group plc is a premium television and content creation group.

 

The award-winning and critically acclaimed television labels comprise Atomic,
Brook Lapping, Electric Violet, Raw Cut, Rex, Red Sauce, Supercollider, Tern
Television, Tomas TV along with Bumblebee Post-Production, and produce
programmes across a wide range of factual genres for UK and international
broadcasters.

 

Zinc Media Group's commercial content creation unit includes The Edge Picture
Company, one of the UK's largest brand film-making companies, and Zinc Audio,
specialising in podcasts and radio production.

 

For further information on Zinc Media, please visit www.zincmedia.com
(http://www.zincmedia.com)

 

 

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