CentralNic Group PLC Acquisition of VGL completed and FT1000 inclusion (9918D)
08 Marzo 2022 - 1:01AM
UK Regulatory
TIDMCNIC
RNS Number : 9918D
CentralNic Group PLC
08 March 2022
8 March 2022
CentralNic Group plc
("CentralNic" or "the Company", or "the Group")
Acquisition of VGL completed
and
FT1000 inclusion
CentralNic Group plc (AIM: CNIC), the global internet platform
company that derives recurring revenues selling online presence and
marketing services, is pleased to announce that, further to the
announcements made on the 28 February, it has now completed the
acquisition of VGL Verlagsgesellschaft mbH, Berlin, Germany and its
subsidiaries (together "VGL") from its former shareholders (the
"Acquisition").
VGL has been acquired for an enterprise value of EUR 60 million,
with an initial consideration of EUR 67 million (approx. US$75
million) inclusive of customary adjustments for cash and working
capital. The Acquisition is expected to be double digit earnings
enhancing for the financial year ending 31 December 2022, prior to
any synergies being realised.
The Acquisition has been financed by an oversubscribed placing
to institutional investors, raising gross proceeds of GBP42
million, at a fixed price of 120 pence per share (the "Issue
Price"). The Placing has been complemented by an issue of
additional senior secured callable bonds for a nominal value of EUR
21 million under its existing senior secured bond, listed on Oslo
Børs, at a price of 100.8% of par value (the "Bond Issue"). The
Bond Issue was subscribed for by Macquarie Principal Finance Pty
Ltd, UK Branch, on the same terms and conditions as CentralNic's
existing bond issue (together, the Placing, the Open Offer and the
Bond Issue are the "Fundraising").
FT 1000: Europe's Fastest Growing Companies
In its 2022 edition, Financial Times has listed CentralNic among
the top-250 fastest-growing companies and among the top-50
fastest-growing Technology companies in Europe. CentralNic has
enjoyed a compound growth rate of 73% over the past 7 years, since
its AIM IPO , taking it from $4m in revenues to over $400m. In
2021, CentralNic's organic growth was 39%, contributing to an
overall 71% revenue growth.
Ben Crawford, CEO of CentralNic, said:
"We are delighted to see that CentralNic Group has been
recognised as one of Europe's fastest-growing companies. Joining
forces with VGL, a major milestone on the road to becoming a
world-leading online services marketplace, will allow us to
continue to deliver our outstanding growth performance in 2022 and
beyond."
For further information:
CentralNic Group Plc
Ben Crawford, Chief Executive
Officer
Don Baladasan, Group Managing
Director
Michael Riedl, Chief Financial
Officer +44 (0) 203 388 0600
Zeus Capital Limited (NOMAD
& Joint Broker)
Nick Cowles / Jamie Peel +44 (0) 161 831 1512
Dominic King / Rupert Woolfenden +44 (0) 203 829 5000
-----------------------------
Berenberg (Joint Broker)
Mark Whitmore, Richard Andrews,
Alix Mecklenburg-Solodkoff +44 (0)20 3207 7800
-----------------------------
SEC Newgate (for Media) +44 (0) 203 757 6880
Bob Huxford / Isabelle Smurfit centralnic@secnewgate.co.uk
/ Max Richardson
-----------------------------
About CentralNic Group plc
CentralNic (AIM: CNIC) is a London-based AIM-quoted company
which drives the growth of the global digital economy by developing
and managing software platforms allowing businesses globally to buy
subscriptions to domain names for websites and email, monetise
their websites, and acquire customers online. Its core growth
strategy is identifying and acquiring cash-generative businesses in
its industry with annuity revenue streams and exposure to growth
markets and migrating them onto the CentralNic software and
operating platforms.
CentralNic operates globally with customers in almost every
country in the world. It earns recurring revenues from the
worldwide sales of internet domain names and other services on an
annual subscription basis.
For more information please visit: www.centralnicgroup.com
- ENDS -
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