18 April 2024
The Mission Group plc
("MISSION" the "Company" or the
"Group")
Issue of Contingent Consideration
Shares, Total Voting Rights
The MISSION Group plc (AIM: TMG), creator
of Work That CountsTM, comprising a group of digital marketing and
communications Agencies, provides an update on contingent
consideration payments in relation to certain of the Group's past
acquisitions, Influence Sports & Media ("Influence") and Mezzo Labs Ltd
("Mezzo"), first announced
on 8 December 2022 and 14 February 2023 respectively, and more
recently referenced in the Group's final results for the year ended
31 December 2023 on 28 March 2024.
Under the terms of both acquisitions, deferred
consideration contingent on the financial performance of the
ongoing businesses is now payable in respect of the first financial
year following completion of the acquisitions (the "Contingent Consideration"). The
Contingent Consideration is to be satisfied by a combination of
cash and Mission shares which has been agreed between the Company
and the vendors in accordance with the provisions of the underlying
acquisition agreements. As such, the Company will be issuing
2,222,222 ordinary shares in aggregate to the vendors of
Influence and Mezzo at the vendors' request, comprising (i)
1,000,000 existing ordinary shares held by the Company's employee
benefit trust and (ii) 1,222,222 new ordinary shares in the Company
to be issued at a price of 22.5 pence per share based on the
Company's average share price over the 10 business days preceding
17 April 2024 (the "New Ordinary
Shares").
Application has therefore been made for
1,222,222 New Ordinary Shares to be issued to be admitted to
trading on AIM with admission expected to take place on 23 April
2024 ("Admission").
Following the allotment and issue of the New
Ordinary Shares, there will be 92,238,119 ordinary shares in issue.
The Company holds no ordinary shares in treasury and therefore this
figure may be used by shareholders of the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure and Transparency Rules.
ENDS
ENQUIRIES
James Clifton, Chief Executive
Officer
Giles Lee, Chief Financial Officer
The MISSION Group plc
|
Via Houston
|
Simon Bridges/Andrew Potts/Harry
Rees
|
|
Canaccord
Genuity Limited (Nominated Adviser and
Broker)
|
020 7523 8000
|
|
|
Kate Hoare / Alexander Clelland / India
Spencer
|
|
HOUSTON (Financial
PR and Investor Relations)
|
0204 529 0549
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NOTES TO
EDITORS
MISSION is a collective of digital
marketing and communications Agencies
employing over 1,100 people across 25 locations and 3 continents.
The Group successfully combines its diverse expertise to
produce Work That Counts
TM for Clients, whatever their ambitions. Creating real
standout, sharing real innovation and delivering real growth for
some of the world's biggest brands. www.themission.co.uk