CentralNic Group plc (trading as Team Internet (LON:CNIC)), the global internet company generating recurring revenue from privacy-safe, AI based customer journeys that help online consumers make informed choices, has announced that on 28 September 2023 it will hold a General Meeting at 10.30 BST at the Company’s registered address, 4th Floor, Saddlers House, 44 Gutter Lane, London, EC2V 6BR, for the purpose of considering and, if thought fit, passing the following resolutions:
Special Resolutions:
1. THAT, the Company’s name be changed from ‘CentralNic Group Plc’ to ‘Team Internet Group Plc’ with immediate effect.
2. THAT, the Company’s share premium account of USD 98,529,000 be cancelled and is hereby cancelled.
The proposed change in name reflects our continued commitment to growth, innovation, and our dedication to providing exceptional products to our customers and partners.
The cancellation of the share premium account will enable the Company to increase its distributable reserves to facilitate making future distributions to its shareholders, including the payment of dividends.
The Notice of General Meeting will shortly be available on the Team Internet Group new website at: https://teaminternet.com/constitutional-documents-and-circulars/
CentralNic Group rebrands as Team Internet Group
Further, effective from 5 September 2023, the Company’s shares will be trading under the ticker “TIG”. Its ISIN will remain unchanged.
Recognising our transformative evolution, the name ‘Team Internet’ aligns closely with our foundational ethos. The Group is now built upon distinct pillars – each an authority in its domain – which collectively function as one cohesive ‘Team’. Our shared passion for shaping the future of the ‘Internet’ unifies us. CentralNic’s metamorphosis into a highly profitable digital marketing technology platform business was catalysed by the acquisition of Team Internet AG in 2019. The revered CentralNic brand will continue as the overarching brand for the Group’s Online Presence businesses.
This rebranding will not alter our business operations or financial framework. To legally amend the Company’s name, shareholder approval is required at a General Meeting, details of which will be communicated separately.
As September celebrates the 10th anniversary of our IPO, we mark this milestone and our journey as a publicly traded entity through both our rebranding and a Capital Market Day event at the London Stock Exchange at 9.30am BST today.
Michael Riedl, CEO, remarked: “Our tier-one businesses, cutting-edge technologies, and the boundless potential of our team will continue to fuel the Company’s growth, which has seen its revenues increase from $4m at the time of IPO in 2013, to $728m in FY 2022.
With our refreshed identity, we remain anchored in our core values. We act like owners, deeply committed to our collective mission and vision. Our courage to consistently do the right thing, even when faced with challenges, sets us apart. Our mindset has always been about working smart, crafting solutions and innovations that we take pride in. And as we progress under the ‘Team Internet’ banner, our shared purpose becomes even more pronounced, reinforcing that in unity, we will succeed.”
From 9am BST today, interested parties can learn more about the rebranding at teaminternet.com
CentralNic (trading as Team Internet (LON: CNIC)) creates meaningful and successful connections from businesses to domains, brands to consumers, publishers to advertisers, enabling everyone to realise their digital ambitions. The Company is a leading global internet solutions company that operates in two highly attractive markets: high-growth digital advertising (Online Marketing segment) and domain name management solutions (Online Presence segment). The Company’s Online Marketing segment creates privacy-safe and AI-generated online consumer journeys that convert general interest online media users into confident high conviction consumers through advertorial and review websites. The Online Presence segment is a critical constituent of the global online presence and productivity tool ecosystem, where the Company serves as the primary distribution channel for a wide range of digital products. The Company’s high-quality earnings come from subscription recurring revenues in the Online Presence segment and revenue share on rolling utility-style contracts in the Online Marketing segment.
