Business
Launch of Placing via Accelerated Bookbuild
Launch of Placing via Accelerated Bookbuild.
About this update from Zinc Media Group Plc
[{"type":"text","content":"\n \nRNS Number : 1055A Zinc Media Group PLC 17 January 2020 \n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, THE REPUBLIC OF IRELAND, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT AND AT THE START OF THE APPENDIX.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN ZINC MEDIA GROUP PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF ZINC MEDIA GROUP PLC.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (\"MAR\"). \nZinc Media Group plc\n(\"Zinc Media\" or the \"Company\")\nLAUNCH OF PLACING VIA ACCELERATED BOOKBUILD\nProposed Placing, Preference Share Conversion, Debt Conversion, Debt Variation, Share Consolidation, Article Amendments and Capital Reduction \nZinc Media Group plc, (AIM: ZIN), a leading TV and multimedia content producer, is pleased to announce a proposed placing of £3.5 million (gross) via an accelerated bookbuild placing to institutional investors and other investors, alongside a preference share conversion, debt conversion, debt variation, share consolidation, article amendments and a proposed share consolidation; such that every 500 Existing Ordinary Shares are consolidated into one New Ordinary Share. The Placing is being conducted at a price equivalent to 0.18 pence per share, or 90 pence per share as adjusted for the impact of the Share Consolidation (the \"Placing Price\"). \nThe proceeds of the Placing will be used primarily to fund the Company's four-point transformational plan, adopted in September 2019 by the Group's new management team, to address issues of the past and enable it to capitalise on its significa...