Issue of Equity

About this update from Next 15 Group Plc

[{"type":"text","content":"\n \n \n Issue of Equity\n \n \n\n \n Next Fifteen Communications Plc\n \n \n\n \n \n \n THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION \n CONTAINED IN THEM, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR \n DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR \n FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF \n SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, \n RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT \n NOTICES WITHIN THIS ANNOUNCEMENT. THIS ANNOUNCEMENT IS NOT AN OFFER OF \n SECURITES FOR SALE OR SOLICITATION OF AN OFFER TO BUY THE SECURITIES \n DISCUSSED HEREIN IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN \n ANY JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE \n MARKET ABUSE REGULATION (EU) NO.596/2014.\n \n \n 1 November 2018\n \n \n Next Fifteen Communications Group plc\n \n \n Acquisition and Placing\n \n \n Next Fifteen Communications Group plc (“Next 15” or the “Company”), the \n digital communications group, is pleased to announce the acquisition \n today of Activate Marketing Services LLC (“Activate”), a B2B demand \n generation company based in San Francisco and New York (the \n “Acquisition”). The Company also announces its intention to undertake a \n non-preemptive cash placing to raise gross proceeds of up to £20 million \n (the “Placing”) to fund the Acquisition and associated costs and to \n support future identified acquisition opportunities in the near term.\n \n \n Activate is a marketing service provider to technology companies. \n Following the acquisition Activate will continue to operate as an \n independent brand as part of the Next 15 Network.\n \n \n The initial consideration for the acquisition is approximately $9 \n million, which will be settled in full in cash. Deferred top-up \n contingent consideration of up to $2.25 million is payable in 2019 based \n on performance targets for Activate for the 9 months ending 31 July 2019 \n payable in cash or up to 75 per cent. in shares at Next 15’s discretion.\n \n \n Further deferred contingent consideration is payable over the next 5 \n years, in cash or at Next 15’s discretion up to 25 per cent. in shares, \n dependent on Ac...

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