Business
Admission and First Day of Dealings on AIM
Admission and First Day of Dealings on AIM.
About this update from One Media Ip Group Plc
[{"type":"text","content":"\n \n18 April 2013\n\n One Media iP Group Plc \n\n (\"One Media\" or \"the Group\" or \"the Company\") \n\n Admission and First Day of Dealings on AIM \n\nOne Media iP Group Plc (AIM: OMIP), the digital media content provider which\nexploits intellectual property rights around music and video, is pleased to\nannounce the admission of its shares to trading on AIM (\"Admission\"). Dealings\nwill commence at 08:00am today.\n\nSimultaneously with Admission, the Company has raised £750,000 before expenses\nthrough a placing by Hybridan LLP of 9,375,000 new ordinary shares at a price\nof 8 pence per share (the \"Placing\"). Following the Placing, the Company has\n64,003,068 ordinary shares in issue, giving One Media a market capitalisation\nof approximately £5.1 million.\n\nThe funds raised in the Placing will be used to finance new content acquisition\nand it is the Company's intention to increase the size of the deals that are\nmade.\n\nCairn Financial Advisers LLP is acting as the Company's Nominated Adviser, and\nHybridan LLP is acting as Broker to the Company.\n\nOriginally founded by Chief Executive Officer and Chairman Michael Infante, One\nMedia was admitted to the Plus SX Market in September 2006. One Media\nspecialises in acquiring nostalgic content and then digitising it, before\nrecompiling and delivering the digital music and video content, via its\naggregator, directly to over 600 online digital stores. The Group has acquired\napproximately 80 music catalogues and the directors estimate that the Group\nowns and/or controls the rights to over 170,000 tracks. Although the Company\nfocuses on mainstream artists with a proven audience from the last 90 years,\nthe genre of music in the catalogues acquired varies widely, ranging from Rock\nto Pop and Classical to Spoken Word. This variety provides the Company with a\ndiversified revenue stream. The tracks are generally acquired from bands,\nproducers, record labels and family estates, and are actual `recorded\nperformances' of the artists.\n\nOne Media acquired its first video content in 2006, and has recently\nsignificantly escalated the investment in, and volume of, video content in its\nlibrary. In December 2012, the Group announced that it had acquired the entire\nlibrary of rights from Granada Television Productions Limited and ITV Digital\nChannels Limited of the \"Men...