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Catena Media eyes growth with new share issue

The Catena Media Board of Directors has resolved to implement a directed new share issue of a total 271,722 shares.

On 23 May, 2017, the Company announced that it had signed New Casinos Ltd., including related affiliate assets, and that at most 50 percent of the maximum earn-out of 4.250 million could be paid in form of newly issued shares in Catena Media plc., based on revenue performance over a period of 12 months.

The actual earn-out was 3.750 million during the twelve-month period, effective from the closing date of the transaction. On this basis, the Board of Directors has resolved to implement a directed issue of 144,282 shares to the seller of the assets. The subscription price amounts to SEK 133.33 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 29 May, 2018. The shares will not be subject to any further lock-up period.

On 13 June 2018, the Company announced that it had acquired assets in Hammerstone Inc., and that $2.0 million of the purchase price could be paid in form of newly issued shares in Catena Media plc. In line with this, the Board of Directors of the Company has, under the authorization granted by the Articles of Association, resolved to implement a directed issue of 127,440 shares to the seller of the assets.

The subscription price amounts to SEK 137.32 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 8 June, 2018. As previously announced, the shares will be subject to a lock-up period of 12 months effective from the closing date of the transaction.

Through the share issues, the number of ordinary shares in Catena Media increases by total 271,722 shares from 55,288,205 shares to 55,559,927 shares and the share capital increases by 408 from 82 932 to 83 340.

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