Update on Acquisition of Zeropark and Voluum

RNS Number : 3708A

CentralNic Group PLC

29 September 2020

 

29 September 2020

CentralNic Group plc

("CentralNic" or the "Company")

Update on Acquisition of Zeropark and Voluum

CentralNic Group plc (AIM: CNIC), the global internet platform that derives revenue from the worldwide sales of internet domain names and related services, is pleased to provide an update in relation to its acquisition (the "Acquisition") of the Zeropark and Voluum businesses including all material trade and assets pertaining thereto (together, being "Codewise").

Further to the announcement dated 10 September 2020, completion of the Acquisition is subject to a number of pre-condition actions having either been carried out or waived by the Company (being the "Acquisition Conditions") such as, inter alia, a pre-completion restructuring of Codewise and the Company procuring finance to fund the Acquisition.

The Company is pleased to announce that the Acquisition Conditions have been satisfied or waived and substituted with adequate or better completion deliverables and as such the completion of the Acquisition is now unconditional and shall take place with an effective date of 31 October 2020.

In consequence, as further announced on 11 September 2020, the consideration for the Acquisition is being funded via a placing of 40,000,000 new ordinary shares (the "Placing Shares") at a placing price of £0.75 per share to raise £30 million (the "Placing") and it is expected that the Placing Shares will be admitted to trading on AIM on 8:00 a.m. on 30 September 2020 ("Admission").  The net proceeds of the Placing will be utilised solely by the Company to fund the payment of the consideration for the Acquisition and associated deal costs.

Commenting, Ben Crawford CEO of CentralNic, said: "The swift completion of the Acquisition Conditions augurs well for the future collaboration with the enlarged team.  We look forward to formally completing so that we can commence executing our integration strategy and begin to offer Codewise's products and services to our new and existing customers."

ENDS

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 / Alex Price	[phone]
Newgate Communications (for Media) Bob Huxford Tom Carnegie Isabelle Smurfit	[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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