1 August 2019
7digital Group plc
("7digital" or "the Company")
7digital Group Plc (AIM: 7DIG) announces that at today's AGM, the Company will give the following update:
"Having successfully completed the subscription announced on 7 June 2019 and with the newly constituted Board now in place, we are confident that all resolutions put forward today will be passed.
"We can confirm that our second stage financing plans are well underway, and we should be in a position to confirm the fundraising in the near term.
"Upon completion of the fundraising, the Board believes that the Company's funding position should be secured, positioning it well to execute on our stated strategy to lead the Company to profitability."
020 7099 7777
Paul Langworthy, CEO
Holly Ashmore, PR Manager
Arden Partners (nominated adviser and broker)
020 7614 5900
Ruari McGirr/Tom Price/ Benjamin Cryer - Corporate Finance
This announcement contains information which, prior to its disclosure, was deemed inside information for the purpose of the Market Abuse Regulation.
About 7digital (www.7digital.com)
7digital is the global leader in B2B end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.
7digital fosters industry growth and innovation by simplifying access to music for clients such as Onkyo and TikTok (formerly musical.ly). From years of being the largest independent producer of programming for the BBC and powering services for partners like Global Radio and Fender, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio service
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Quick facts: 7Digital Group PLC
Market Cap: £4.42 m
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