Regulatory News:
AudioValley (Paris:ALAVY) (Brussels:ALAVY), an international
specialist in B2B solutions in digital audio, (ISIN code:
BE0974334667 / mnemonic: ALAVY), is launching a capital increase
with qualified investors by issuing new ordinary shares with no
preferential right for existing shareholders.
The capital increase will be formally decided by
AudioValley’s Board of Directors, acting in connection with its
authorized capital powers as renewed and extended by a decision of
the extraordinary general meeting of shareholders of 15 February
2021, on 12 April 2021.
The funds raised through this capital increase will make it
possible to:
- support the international expansion of AudioValley, which
recently signed several partnerships with leading players. Since
the beginning of the year, an agreement with Bauer Media has made
it possible, for example, to market Targetspot’s inventory in
Sweden, Denmark, Finland and Norway (press release of 11 March
2021). In 2020, Targetspot also entered into agreements with Sonos,
Stingray, TuneIn and Radio France. Once all these contracts become
100% operational, their impact could represent an overall amount of
more than €10 m of the Group’s annual revenue.
- support the commercial launch of Jamendo Rights Management, the
new business activity dedicated to the collective management of
music rights, which will enable Jamendo to expand its scope in
terms of managing and monetizing rights on behalf of the 45,000
artists on the platform. The liberalization of collective copyright
management in Europe opens up huge growth opportunities for
Jamendo, which acquired Independent Management Entity (IME) status
in February 2019. The weight of this market in Europe is estimated
at around 10 billion euros in revenue per year. The first revenue
from the deployment of Jamendo Rights Management is expected in
2021.
The transaction (the “Transaction”) will be carried out
exclusively with qualified investors (within the meaning of Article
2(e) of Regulation (EU) 2017/1129 of the European Parliament and of
the Council of 14 June 2017 on the prospectus to be published when
securities are offered to the public or admitted to trading on a
regulated market, and repealing Directive 2003/71/EC, as
amended).
The Transaction will be carried out through an accelerated
bookbuilding process, after which the number and price of the new
shares issued will be determined. The accelerated bookbuilding
process starts immediately and is expected to close before the
markets open on 09 April 2021, subject to any early closing or
extension.
Through a press release, AudioValley will announce the outcome
of the Transaction as soon as possible after the bookbuilding
closes.
The shares will carry dividend rights and will be admitted to
trading on the Euronext Growth market under code ISIN BE0974334667
- ALAVY.
TP ICAP EUROPE is acting as lead arranger and bookrunner for the
Transaction. Allegra Finance, the listing sponsor, is the Company’s
advisor for this Transaction.
Detailed information concerning the Company, in particular
relating to its business activity, results and corresponding risk
factors, can be found in the Annual Financial Report for the year
ended 31 December 2019, which can be consulted, along with other
regulated information and all of the Company’s press releases, on
its website (www.audiovalley.com).
FUTURE UPDATES
Release of annual financial report Friday 30 April 2021,
after market close
2020 half-year revenue Tuesday 27 July 2021, after market
close
About AudioValley
AudioValley, based in Brussels in the heart of Europe, has been
a pioneer and leader in digital audio since 2007. Active throughout
the value chain in its sector, and with a global network,
AudioValley offers its customers & partners solutions to
develop their business through digital audio, both locally and
internationally.
The Group is home to iconic brands: Targetspot for the
monetization of digital audio content, Jamendo for music sales and
music rights management, Shoutcast for streaming technologies and
podcast management, and Winamp, the iconic audio player.
The audio sector is undergoing an unprecedented digital
revolution with ultra-connected consumers who want access to the
best audio content wherever and whenever they want. To cater for
these new consumer trends, AudioValley is developing technologies
that allow people to instantly enjoy the benefits of digital audio
and services that create links between brands and consumers,
between publishers and their audience, between publishers and
brands, and between artists and music lovers. AudioValley is
present in 9 countries and employs around 100 employees worldwide.
www.audiovalley.com
Notice
Financial securities may only be offered or sold in the United
States following registration under the 1933 US Securities Act, as
amended (“US Securities Act”), or in connection with an exemption
from this registration requirement. The Company’s securities
covered by this press release have not been and will not be
registered under the US Securities Act, and the Company does not
intend to offer to the public the financial securities covered by
this press release in the United States.
This press release is for information purposes only. This press
release does not constitute, and shall not be deemed to constitute,
an offer to the public, an offer to subscribe or an invitation to
the public with a view to a transaction through an offer to the
public of financial securities.
The Transaction is not subject to the requirement to publish a
prospectus previously approved by the Financial Services and
Markets Authority, the Belgian competent authority within the
meaning of Article 2, o) of Regulation 2017/1129 (as amended),
designated in accordance with Article 31 of said Regulation (the
“FSMA”), in accordance with the exemption laid down in Article
1(4)(a) of Regulation 2017/1129.
However, pursuant to Article 10, § 3, 1° of the law of 11 July
2018 on offers of investment instruments to the public and the
admission of investment instruments to trading on regulated
markets, and Article 2 of the Royal Decree of 23 September 2018 on
the publication of an information memorandum in the event of an
offer to the public or admission to trading on an MTF and
containing various financial provisions, the admission of the new
shares issued in connection with the Transaction to trading on the
Euronext Growth market shall require the publication of an
information memorandum filed with the FSMA. This information
memorandum shall be available on the websites of both AudioValley
and the FSMA. This information memorandum shall not constitute a
prospectus and shall not be verified or approved by the FSMA.
The distribution of this press release in certain countries may
constitute a violation of the legal provisions in force.
This press release is not to be published, transmitted or
distributed, directly or indirectly, in the United States, Canada,
Australia or Japan. This document does not constitute an offer to
sell AUDIOVALLEY shares in the United States.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210408005802/en/
Investor relations: Sébastien Veldeman •
investorrelations@audiovalley.com Press relations: Emilie
Dehan • press@audiovalley.com