REG - Zoo Digital Group - Confirmation of successful Placing of £12.5m

Zoo DigitalAnnouncement

28/04/2023 07:15

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RNS Number : 7899X  Zoo Digital Group PLC  28 April 2023

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CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY
PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN ZOO
DIGITAL GROUP PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS
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RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF ZOO
DIGITAL GROUP PLC

 

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Union (Withdrawal) Act 2018 as amended. Upon the publication of this
Announcement, this inside information is now considered to be in the public
domain.

28 April 2023

ZOO Digital Group plc

("ZOO", the "Group" or the "Company")

Confirmation of successful Placing of £12.5 million ($15.5 million)

ZOO Digital Group plc (AIM: ZOO), a leading provider of end-to-end cloud-based
localisation and media services to the global entertainment industry, is
pleased to announce that further to the Company's announcement on 27 April
2023, the Company has successfully completed its oversubscribed Placing of
£12.5 million ($15.5 million) through the issue and allotment of an aggregate
of 7,812,500 new ordinary shares of £0.01 each in the Company (the "Placing
Shares") with certain existing and new institutional and other investors at a
price of 160 pence per Placing Share (the "Issue Price").

The Issue Price represents a discount of approximately 13.5% per cent. to the
middle market closing price of an ordinary share of £0.01 each in the Company
("Ordinary Shares") on 26 April 2023. The Placing Shares represent
approximately 8.7% per cent. of the issued share capital of the Company prior
to the Placing.

The Company consulted with a number of its major shareholders prior to the
Placing and is pleased by the support it has received from both existing and
new shareholders. Stifel Nicolaus Europe Limited ("Stifel") served as
nominated adviser and joint bookrunner and Singer Capital Markets ("Singer")
also acted as joint bookrunner in respect of the Placing.

Application

An application has been made to London Stock Exchange plc for the Placing
Shares to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings in the Placing Shares will
commence at 8.00 a.m. on 4 May 2023. The Placing is conditional upon, among
other things, Admission becoming effective and the placing agreement entered
into between the Company and Stifel and Singer not being terminated in
accordance with its terms.

Related Party Transaction

Herald Investment Management ("Herald") and Canaccord Genuity Wealth
Management ("Canaccord") have agreed to subscribe for 400,000 and 812,500
Placing Shares respectively, pursuant to the Placing. The participation of
Canaccord and Herald, both existing substantial shareholders in the Company
are related party transactions pursuant to Rule 13 of the AIM Rules for
Companies. The directors of the Company who are independent of the related
party transactions, having consulted with Stifel, the Company's nominated
adviser, consider the terms of the respective participation of Herald and
Canaccord in the Placing to be fair and reasonable insofar as shareholders of
the Company are concerned.

The Placing Shares, when issued, will be fully paid and will rank pari passu
in all respects with the existing Ordinary Shares including the right to
receive all dividends and other distributions declared, made or paid after the
date of issue of the Placing Shares.

Total Voting Rights

Following Admission, the Company's enlarged issued ordinary share capital will
be 97,662,191. 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 in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

A further announcement will be made in relation to total voting rights in the
Company's share capital following the completion of the Retail Offer.

Enquiries:

 

 ZOO Digital Group plc                                                        +44 (0)114 241 3700

 Stuart Green

 Phillip Blundell

 Stifel Nicolaus Europe Limited (Nominated Adviser, Joint Broker and Joint    +44 (0)20 7710 7600
 Bookrunner)

 Fred Walsh / Tom Marsh / Richard Short

 Singer Capital Markets (Joint Broker and Joint Bookrunner)                   +44 (0)20 7496 3000

 Shaun Dobson / Asha Chotai

 Instinctif Partners (Financial PR)                                           +44 (0)20 7457 2020

 Matthew Smallwood / Joe Quinlan                                              zoo@instinctif.com

 

 

About ZOO Digital Group plc:

ZOO supports major Hollywood studios and streaming services to globalise their
content and reach audiences everywhere, by providing world-leading,
technology-enabled localisation and media services.

Founded in 2001, ZOO operates from hubs in Los Angeles, London, Dubai, Turkey,
South Korea, India and Denmark with a development and production centre in
Sheffield, UK.

The Group provides media services through its platforms that include: ZOOsubs,
ZOOdubs, ZOOstudio. Its full-service proposition delivers the end-to-end
services required to prepare both original and catalogue content for digital
distribution; these services include dubbing, subtitling and captioning,
metadata creation and localisation, artwork localisation and media processing.
Alongside this offering, ZOO also provides its customers with management
platforms and strategic solutions to support their own internal globalisation
operations.

ZOO is a go-to service partner for media businesses looking to globalize their
content across different territories, languages and distribution platforms.
Using its innovative technology-enabled approach, ZOO helps its customers
reduce time to market, lower costs and deliver high quality products to their
global audiences. The business has frameworks in place with major Hollywood
studios and streaming services. Its customers include Disney, NBCUniversal,
HBO and Paramount Global.

ZOO's competitive advantage arises from three interlinking factors - the
innovative role it has played in the digital transformation of its sector; the
proprietary platforms that it develops to enable this transformation; and the
global supply chain of thousands of freelancers, working collaboratively in
ZOO's platforms, which delivers services that scale easily to meet demand.
These factors combine to make ZOO well placed to capitalise on new market
opportunities in a fast-paced and evolving industry.

 

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