Contingent consideration payment from acquisition

RNS

17 October 2022

AFERIAN PLC

("Aferian", the "Company" or the "Group")

Contingent consideration payment from acquisition

Aferian plc (LSE AIM: AFRN), the B2B video streaming solutions company, today announces that the remaining contingent consideration in relation to the 24i Unit Media A/S (formerly Nordija A/S) acquisition in May 2021 has become payable.

Following successful completion of the remaining targets associated with the contingent consideration, the Company will pay a final amount of €117,000 ($113,490), of which €26,910 ($26,103) will be settled in cash. The remaining €90,090 ($87,387) will be settled through the issue of 52,769 new ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at the price agreed at the date of the original acquisition of 148 pence per Ordinary Share (the "Contingent Consideration Shares"). The Contingent Consideration Shares have a lock-in period of 24 months from the date of the original acquisition. 

Issue of Equity

Application has been made for the admission of the Contingent Consideration Shares to trading on the AIM market of London Stock Exchange plc ("Admission").  It is expected that Admission will take place at or around 8.00am (London time) on 21 October 2022. The Contingent Consideration Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the Company's existing issued Ordinary Shares.

On Admission, the Company will have 86,694,609 Ordinary Shares in issue (including 1,482,502) Ordinary Shares held in treasury). Therefore, the total number of voting rights in the Company is 85,212,107. This number may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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About Aferian plc 

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our end-to-end solutions bring live and on-demand video to every kind of screen. We create the forward-thinking solutions that our customers need to drive subscriber engagement, audience satisfaction, and revenue growth.

It is our belief that successful media companies and services will be those that are most consumer-centric, data driven and flexible to change. We focus on innovating technologies that enable our customers to stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering end-to-end modern TV and video experiences to consumers. By anticipating technological and behavioural audience trends, our software solutions empower our customers to heighten viewer enjoyment, drive growth in audience share and ultimately their profitability.

Aferian plc has two operating companies: 24i, which focusses on streaming video experiences, and Amino, which connects Pay TV to streaming services. Our two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. Our solutions deliver modern TV and video experiences every day to millions of viewers globally, via our growing global customer base of over 500 service providers.

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM: symbol AFRN). Headquartered in Cambridge, UK, the Company has over 350 staff located in 11 offices, including in such major European cities as Amsterdam, Helsinki, Copenhagen and Brno, as well as in San Francisco and Hong Kong. For more information, please visit www.aferian.com.