TIDMNFC

29 September 2017

Next Fifteen Communications Group plc ("Next 15" or the "Company")

Additional listing

Next 15 announces that on 27 September 2017 it acquired the remaining 25% minority interest in Encore Digital Media Limited ("Encore"), a programmatic advertising technology business, bringing forward the obligation to acquire the remaining 25% announced on 28 April 2015.

Under the amended terms of the acquisition, certain payments in respect of deferred consideration payable in Next 15 shares will also be brought forward, including a portion of the 'top-up payment' which has now been paid on completion of the acquisition. Accordingly 85,353 new ordinary shares of 2.5 pence each in the Company ("Ordinary Shares") are due to be issued and allotted in respect of this payment. The new Ordinary Shares will rank pari passu with the Company's existing ordinary shares. All outstanding consideration payable in respect of the Encore acquisition remains subject to the original undisclosed cap. The acquisition of the remaining 25% minority interest from 2020 has been brought forward in order to further simplify the Next 15 group's corporate structure and to enable a long-term incentive plan for Encore management and staff to be implemented.

Application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to AIM and it is expected that admission will take place on 04 October 2017. Following the issue and allotment of the new Ordinary Shares as described above, the Company will have 75,601,549 Ordinary Shares in issue. No shares are held in treasury.

Enquiries:

 
Next Fifteen Communications Group plc 
Peter Harris, CFO                             +44 (0)20 7908 6444 
Investec Bank plc 
Keith Anderson / Matt Lewis                   +44 (0) 20 7597 5970

View source version on businesswire.com: http://www.businesswire.com/news/home/20170929005586/en/

 
This information is provided by Business Wire

(END) Dow Jones Newswires

September 29, 2017 12:32 ET (16:32 GMT)

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