Catena Media resolves upon a directed share issue as final payment for an acquisition made in June 2018

The board of directors of Catena Media plc (“Catena Media” or the “Company”) has, by virtue of the authorization in the articles of association of the Company and in accordance with a press release on 27 June 2018, resolved upon a directed share issue of 183,672 shares at a subscription price of SEK 58.8821 per share, as payment of the final part of the purchase price for in the acquisition of ASAP Italia S.r.l. (ASAP).

On 27 June 2018, the Company announced that it had acquired ASAP, Italy’s market-leading sports news and lead-generator. As communicated in the previous press release, the initial acquisition consideration amounted to an up-front cash payment of EUR 12,5 million plus a EUR 3,5 million deferred cash consideration after 12 months, amounting to a total cash payment of EUR 16 million.

The agreement also includes an earn-out provision of up to EUR 6 million, to be based on revenue performance over a period of one year. Up to 50 percent of the earn-out may be paid with shares in Catena Media plc.

The final earn-out amounted to EUR 2,136,674. In accordance with the terms of the agreement, the board of directors of Catena Media has now resolved to issue 183,672 shares to the sellers at a subscription price of SEK 58.8821 per share, corresponding to approximately EUR 1,025,603.50. The remainder of the earn-out obligation will be paid in cash. The sellers have agreed to a lock-up period of six months with regard to its holdings of the newly issued shares.

The subscription price amounts to SEK 58.8821 per share, corresponding to the volume-weighted average price for Catena Media’s share on Nasdaq Stockholm during a period of 30 trading days up to and including 28 June 2019.

Through the share issue, the number of ordinary shares in Catena Media will be increased by 183,672 shares, from 58,429,598 shares to 58,613,270 shares, and the share capital will be increased by EUR 275.52, from EUR 87,644.40 to EUR 87,919.91.

 

For further information, please contact:  
Per Hellberg, CEO, Catena Media plc
Phone: +46 709 10 74 10, E-mail: per.hellberg@catenamedia.com

Åsa Hillsten, Head of IR & Communications, Catena Media plc
Phone: +46 700 81 81 17, E-mail: asa.hillsten@catenamedia.com 

The information was submitted for publication, through the agency of the contact persons set out above, on 14 October 2019 at 17.00 CET.

About Catena Media
Catena Media provides companies with high-quality online lead generation. Through strong organic growth and strategic acquisitions, Catena Media has since 2012 established a leadingmarket position with approximately 390 employees in the US, Australia, Japan, Serbia, UK, Sweden, Italy and Malta (HQ). Total sales in 2018 reached EUR 105.0m. The company is listed on Nasdaq Stockholm Mid Cap.Further information is available at www.catenamedia.com.