MDZ Mediazest Plc

 
TIDMMDZ 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET 
ABUSE REGULATION (EU) 596/2014 (AS AMENDED) AS IT FORMS PART OF THE DOMESTIC LAW 
OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS 
AMENDED). UPON PUBLICATION OF THIS ANNOUNCMENT, THIS INSIDE INFORMATION IS NOW 
CONSIDERED TO BE IN THE PUBLIC DOMAIN. 
 
8 January 2024 
 
MediaZest Plc 
 
("MediaZest", the "Company" or the "Group"; AIM: MDZ) 
 
Fundraise to raise £120,000 
 
MediaZest (AIM: MDZ), the creative audio-visual company, is pleased to announce 
that it has raised a total of £120,000 (before expenses) by means of a Fundraise 
(the "Fundraise") via the issue of 300,000,000 ordinary shares of 0.01p in the 
capital of the Company (the "Ordinary Shares") to new and existing investors 
(the "Fundraise Shares") at a price of 0.04 pence per Fundraise Share (the 
"Issue Price"). 
 
The Fundraise comprises a placing (the "Placing"), which was undertaken by the 
Company's sole broker Hybridan LLP, and a subscription (the "Subscription") for 
Fundraise Shares, details of which are set out below. 
 
Details of the Fundraise 
 
The Company has raised £120,000 (before expenses), via the Placing of 
250,000,000 Fundraise Shares and a Subscription to certain private investors for 
50,000,000 Fundraise Shares, each at the Issue Price. 
 
The Subscription and Placing are subject to standard terms and conditions and 
are also each conditional upon the other. The Fundraise is also conditional upon 
the admission of the Fundraise Shares to trading on AIM ("Admission"). 
 
The Issue Price represents a discount of approximately 6 per cent. to the 
closing middle market price of 0.0425 pence per Ordinary Share on 5 January 
2024, being the latest practicable date prior to the date and time of this 
Announcement. 
 
Use of Proceeds 
 
The net proceeds of the Fundraise will be deployed as follows: 
 
  · investment in business development including marketing and sales 
recruitment; 
  · to support growth of the Company's Dutch subsidiary to exploit new 
opportunities in the EU; and 
  · to provide the Group with additional working capital. 
 
Current Trading 
 
The Company continues to sign regular repeat work on projects - often on a store 
by store or dealership by dealership basis. The value of MediaZest's annualised 
recurring revenue contracts has increased, with contracts currently running at 
around £700k per year on an annualised basis, some of which are multi-year 
deals.  In addition, new European installations are predominantly geared towards 
strong recurring revenue streams and 3-year deals. 
 
The operational business has multiple long term blue-chip clients, which are 
primed for future growth. The Company is experiencing expanding markets in the 
key sectors in which it operates and believes it has an opportunity to build a 
best in class roll up business, attractive to larger players in the medium term. 
 
The Dutch subsidiary, which was established in December 2022, is already 
delivering projects and EU project orders were received in excess of ?500,000 in 
calendar year 2023. 
 
Application for Admission 
 
The Fundraise Shares will be credited as fully paid and will rank pari passu in 
all respects with the existing Ordinary Shares, including the right to receive 
any dividends and other distributions declared on or after the date on which 
they are issued. 
 
Application for the Admission of the Fundraise Shares has been made and it is 
expected that Admission will be effective on or around 8.00 am on 10 January 
2024. 
 
Geoff Robertson, CEO of MediaZest plc, commented: "We are delighted to have 
raised these additional funds from new and existing investors, to invest in 
business development and to support growth of the Company's Dutch subsidiary. At 
the end of 2023, we had multiple large-scale projects in deployment or 
negotiation and over the last 12 months we have seen that the maturing market in 
digital signage is opening up opportunities to consolidate. Moreover, the 
opportunity to grow in Europe through our new subsidiary has been exceeding our 
initial expectations. 
 
As we head into 2024, we believe we are well positioned to prosper in each of 
the key markets in which we operate, seeing growth as follows; Retail  focusing 
on better stores with enhanced digital experiences; Automotive by providing 
solutions as the industry transitions to EV and digital sales models; and the 
Corporate Office market as hybrid working continues to evolve by helping it to 
manage a greater reliance on audio visual technologies." 
 
Total voting rights 
 
Following Admission, the Company's total issued share capital will comprise of 
1,696,425,774 Ordinary Shares. The Company does not hold any Ordinary Shares in 
treasury. Therefore, the total number of Ordinary Shares with voting rights in 
the Company will be 1,696,425,774. This figure 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 to their interest 
in, the share capital of the Company following Admission. 
 
Enquiries: 
Geoff Robertson                 0845 207 9378 
Chief Executive Officer 
MediaZest Plc 
David Hignell/Adam Cowl         020 3470 0470 
Nominated Adviser 
SP Angel Corporate Finance LLP 
Claire Noyce                    020 3764 2341 
Broker 
Hybridan LLP 
 
Notes to Editors: 
 
About MediaZest 
 
MediaZest is a creative audio-visual systems integrator that specialises in 
providing innovative marketing solutions to leading retailers, brand owners and 
corporations, but also works in the public sector in both the NHS and Education 
markets. The Group supplies an integrated service from content creation and 
system design to installation, technical support, and maintenance. MediaZest was 
admitted to the London Stock Exchange's AIM market in February 2005. For more 
information, please visit www.mediazest.com 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

(END) Dow Jones Newswires

January 08, 2024 02:01 ET (07:01 GMT)

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