Issuance of Additional Consideration Shares

RNS Number : 1670C

CentralNic Group PLC

14 June 2019

 

14 June 2019

CentralNic Group plc

("CentralNic" or "the Company" or "the Group")

KeyDrive SA Additional Consideration Determined

Issuance of Additional Consideration Shares

CentralNic Group PLC (AIM: CNIC), the internet platform that derives revenue from the worldwide sales of internet domain names, is pleased to announce that its acquisition of KeyDrive SA on 16 July 2018, has exceeded the performance expectations set for FY2018.

As a result of this performance, USD 6,834,000 Additional Consideration attributable to the FY2018 objectives is payable to Inter.Services. Fifteen per cent, equaling USD 1,025,100 have been settled in cash.

The remainder of the Additional Consideration attributable to FY2018 objectives will be settled by issuing 7,384,978 Additional Consideration Shares. Inter.Services holding will increase from c.16.4% to c.19.9% of the issued share capital of the Company.

Application has been made to the London Stock Exchange for a total of 7,384,978 Ordinary Shares issued pursuant to the Additional Consideration to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8:00 a.m. on 18 June 2019. The Ordinary Shares shall rank pari passu with the existing ordinary shares in the Company. Following Admission, the Company's enlarged issued share capital comprises of 178,137,780 Ordinary Shares with one voting right per share.  There are no shares held in treasury. The total number of voting rights in the Company is therefore 178,137,780.

This figure of 178,137,780 Ordinary Shares 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 and Transparency Rules.

Ben Crawford, CEO of CentralNic, commented: "We have been delighted with the performance of KeyDrive's businesses and our progress with the integration, which is tracking in line with our plans. This is testament to CentralNic's successful acquisition strategy and ability to expertly and efficiently integrate businesses."

For further information:  

CentralNic Group Plc Ben Crawford, Chief Executive Officer Don Baladasan, Group Managing Director Michael Riedl, Chief Financial Officer	[phone]
Zeus Capital Limited (NOMAD and Joint Broker) Nick Cowles / Jamie Peel (Corporate Finance) John Goold / Rupert Woolfenden  (Institutional Sales)	[phone] [phone]
Stifel (Joint Broker) Fred Walsh / Neil Shah / Alex Price / Rajpal Padam	[phone]
Newgate Communications (for Media) Bob Huxford Tom Carnegie Robin Tozer	[phone] [e-mail]

About CentralNic Group plc 

CentralNic (AIM: CNIC) is a London-based AIM-listed company which drives the growth of the global digital economy by developing and managing software platforms allowing businesses globally to buy subscriptions to domain names, used for their own websites and email, as well as for protecting their brands online.  Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and migrating them onto the CentralNic software and operating platforms. 

CentralNic operates globally with customers in almost every country in the world.  It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis. 

For more information please visit: www.centralnicgroup.com 

 

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