TIDMMDZ 
 
Market soundings, as defined in the EU Market Abuse Regulation (MAR), were 
taken in respect of the Fundraise with the result that certain persons became 
aware of inside information, as permitted by MAR.  That inside information is 
set out in this announcement and has been disclosed as soon as possible in 
accordance with paragraph 7 of article 17 of MAR.  Therefore, those persons 
that received inside information in a market sounding are no longer in 
possession of inside information relating to the Company and its securities. 
 
5 August 2020 
 
                                 MediaZest Plc 
 
             ("MediaZest", the "Company" or the "Group"; AIM: MDZ) 
 
               Fundraising of GBP150,000 via Convertible Loan Notes 
 
MediaZest (AIM: MDZ), the creative audio-visual company, announces that it has 
raised GBP150,000 (before expenses) via the issue of unsecured convertible loan 
notes (the "CLNs") to new and existing investors (the "Fundraise").  The CLNs 
have a maturity date of 5 August 2023 (the "Maturity Date") and can be 
converted into ordinary shares of 0.01p in MediaZest ("Ordinary Shares"). 
 
The net proceeds of the Fundraise will provide the Group with additional 
working capital. 
 
CLN Terms 
 
The terms of the CLNs are as follows: 
 
  * 3-year CLN (the "Term"), with interest of 7% per annum, payable quarterly 
    in arrears; 
 
  * MediaZest will make a bullet repayment to each investor at the end of the 
    Term if the CLN (in whole or in part) remains unconverted; 
 
  * The Company may repay in full the CLN at any time, including accumulated 
    interest on a pro-rata basis; 
 
  * Each investor can convert the CLNs (in whole or in part) into new Ordinary 
    Shares in MediaZest by serving written notice 14 days after each annual 
    anniversary during the Term; 
 
  * The CLN conversion rate will be calculated by dividing the principal amount 
    of the CLN by the mid-market price of the Ordinary Shares, on the last 
    business day before the relevant anniversary date of the CLN, less a 
    discount of 10%; and 
 
  * If the CLN is repaid at the end of the Term then warrants over new Ordinary 
    Shares will be granted to each investor (the "Warrants"). The number of 
    Warrants granted will be calculated by dividing a sum equal to 10% of the 
    principal amount of the CLN by the mid-market price of the shares in MDZ at 
    on the last business day before the closing of the CLN. The Warrants' 
    exercise price will be the mid-market price of the shares in MDZ on the 
    last business day before the closing of the CLN and the Warrants will 
    expire 12 months from the date of grant. 
 
Geoff Robertson, MediaZest's CEO said: "We are delighted to announce the 
Fundraise at a difficult time for all businesses and we're grateful for the 
continuing support of shareholders as we move out of the UK lockdown period and 
seek to build on the Group's encouraging performance in the run up to the 
Covid-19 outbreak." 
 
Further Information and Related Party Transaction 
 
Certain existing shareholders have subscribed for CLNs as part of the 
Fundraise. 
 
City and Claremont Capital Assets Ltd ("CCCAL") is a substantial shareholder in 
the Company and has subscribed for GBP100,000 of CLNs pursuant to the Fundraise 
(the "CCCAL Subscription"). 
 
The CCCAL Subscription therefore constitutes a related party transaction in 
accordance with AIM Rule 13 of the AIM Rules for Companies. The Directors who 
are all considered to be independent Directors for these purposes, having 
consulted with the Company's nominated adviser, SP Angel Corporate Finance LLP, 
consider the terms of the CCCAL Subscription to be fair and reasonable insofar 
as the Company's shareholders are concerned. 
 
Enquiries: 
 
Geoff Robertson                                      0845 207 9378 
Chief Executive Officer 
MediaZest Plc 
 
David Hignell/Soltan Tagiev                          020 3470 0470 
Nominated Adviser 
SP Angel Corporate Finance LLP 
 
Claire Noyce                                         020 3764 2341 
Broker 
Hybridan LLP 
 
 
Notes to Editors: 
 
About MediaZest 
 
MediaZest is a creative audio-visual systems integrator that specialises in 
providing innovative marketing solutions to leading retailers, brand owners and 
corporations, but also works in the public sector in both the NHS and Education 
markets. The Group supplies an integrated service from content creation and 
system design to installation, technical support, and maintenance. MediaZest 
was admitted to the London Stock Exchange's AIM market in February 2005. For 
more information, please visit www.mediazest.com 
 
 
 
END 
 

(END) Dow Jones Newswires

August 05, 2020 02:00 ET (06:00 GMT)

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