Business
Payment of The Edge earnout and issue of shares
Payment of The Edge earnout and issue of shares.
About this update from Zinc Media Group Plc
[{"type":"text","content":"\n\n \n21 March 2025\nZinc Media Group plc \n(\"Zinc\" or the \"Group\")\nPayment of The Edge earnout and issue of shares\nZinc 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\").\nAs 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.\nAdmission and Total Voting Rights\nApplication 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.\nMark Browning, Chief Executive Officer, commented:\n\"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.\"\n \nFor further information, please contact:\nZinc Media Group plc &nb...