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One Media iP Group Plc announced on 26 September 2022 that it refinanced £1.9 million of outstanding unsecured loan notes. These notes, previously held by British Growth Fund at a fixed interest rate of 7%, were refinanced. The new arrangement is a secured facility from Coutts & Co., priced at base rate plus 3.5%, amortising over five years.
| Date | 26 Sept 2022 |
| Time | 07:00:10 |
| Category | Miscellaneous |
| ID | 5370A |
26 September 2022
One Media iP Group Plc
("One Media", "the Company" or the "Group")
Refinancing of £1.9M of outstanding unsecured loan notes
One Media iP (AIM: OMIP), the digital media content owner and provider which specialises in the active exploitation of music and video intellectual property rights as well as copyright infringement technology, announces that it has refinanced its £1.9 million of outstanding unsecured loan notes held by British Growth Fund, which carried a fixed interest rate of 7%.
The refinancing is by way of a secured facility from Coutts & Co. priced at base rate plus 3.5%, amortising on a straight-line basis over five years. The Coutts facility, whilst secured, is on more traditional bank lending terms and contains fewer restrictions on the operations of the business.
Michael Infante, CEO at One Media iP, said: "We're pleased to have completed this refinancing, in particular with the endorsement of a bank of Coutts's reputation, which gives us greater operational flexibility as we continue to work towards our strategic ambitions."
ENDS
For further information, please contact:
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One Media IP Group Plc |
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Michael Infante |
Chief Executive Tel: +44 (0)175 378 5500
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Claire Blunt |
Chairman Tel: +44 (0)175 378 5501
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Cairn Financial Advisers LLP |
Nominated Adviser |
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Liam Murray / Jo Turner / Ludovico Lazzaretti
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Tel: +44 (0)20 7213 0880
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Cenkos Securities plc |
Broker |
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Giles Balleny / Max Gould (Corporate Finance) Michael Johnson (Sales)
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Tel: +44 (0)20 7397 8900 |
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Claire Turvey, Fourth Pillar |
Financial PR |
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Tel: +44 (0)7850 548 198 |
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About One Media iP Group Plc
One Media is a digital music rights acquirer, publisher and distributor with a catalogue independently valued at £34.8 million (as at April 2022). The Group specialises in purchasing and monetising intellectual property rights with proven, repeat income streams. One Media adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify.
One Media's music is also widely used for synchronisation in film and TV whilst its video content is primarily viewed on YouTube where One Media operates over 20 channels as a certified partner. Alongside this, its anti-piracy copyright infringement and digital music audit tool software TCAT is used by major record labels and the world leading digital international distributor. Men & Motors, the Company's branded car channel, is now available via YouTube www.youtube.com/channel/UCNLiybn_9jgQaV0NZlSRwCg
One Media is listed on the AIM Market of the London Stock Exchange under the ticker 'OMIP'.
For further information, please visit www.omip.co.uk and www.harmonyip.com/