Zinc Media completes acquisition of entire issued share capital of The Edge

Zinc Media Group plc (LON:ZIN), the award-winning television, brand and audio production Group, has announced, further to the announcement made on 3 August 2022 and the announcement of the result of the General Meeting on 22 August 2022, the completion of the acquisition of the entire issued share capital of The Edge Picture Co Limited following Admission of the New Ordinary Shares to trading on AIM yesterday and payment by the Company of the balance of the initial cash consideration, each in accordance with the terms of the Acquisition Agreement.

Director/PDMR Dealings

The Company also confirms the participation of all the Directors in the Placing pursuant to the announcement on 3 August 2022 as follows:

DirectorNumber of Existing Ordinary SharesNumber of Placing Shares subscribed for in the PlacingNumber of Ordinary Shares held on AdmissionPercentage of Enlarged Share Capital on Admission
Christopher Satterthwaite(Chairman)125,36415,000140,3640.64%
Mark Browning(Chief Executive Officer)194,61830,000224,6181.03%
Will Sawyer(Chief Financial Officer)74,13815,00089,1380.41%
Andrew Garard(Non-Executive Director)41,66615,00056,6660.26%
Nicholas Taylor(Non-Executive Director)13,88910,00023,8890.11%

Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Circular, published by the Company on 4 August 2022.

Mark Browning, Chief Executive Officer of Zinc Media Group plc, commented:

“This acquisition, supported by significant new investment, has bucked the current market because it is consistent with our stated strategy, is synergistic with our current portfolio and is priced at a sensible valuation multiple. The level of support from new and existing shareholders for this acquisition has been overwhelming, and we thank all investors for their ongoing support. Together with our employees and clients we are building a premium content creation Group with the ambition and financial backing to operate at significant scale”

Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Circular, published by the Company on 4 August 2022.

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