Source - Alliance News

Zinc Media Group PLC - UK-based TV and multimedia content producer - Raises around £5.0 million through the placing of 5.0 million shares and a subscription of 37,059 shares at a price of 100 pence each.

Singer Capital Markets acted as sole bookrunner, and proceeds from the placing will go towards partly funding the acquisition of The Edge Picture Co Ltd.

‘This placing demonstrates the fantastic shareholder support for Zinc’s strategy to build a content creating group of scale in the public market. The acquisition we’ve announced today is an excellent deal for the employees, shareholders and clients of Zinc and The Edge. Our ambitions and culture are aligned and the combined creative and commercial firepower of the enlarged group is exciting and provides significant growth potential,’ said Chief Executive Officer Mark Browning.

Zinc Media will have 21.8 million shares issued overall.

Current stock price: 98.25 pence, down 8.6% on Wednesday

12-month change: up 69%

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