Oversubscribed Fundraise of £12.65 million for ZOO Digital Group plc

Singer Capital Markets is delighted to have acted as Broker, Bookrunner and Retail Offer Coordinator* to ZOO Digital Group plc (‘ZOO’) on its oversubscribed fundraise of £12.65 million through a £12.5 million Placing, together with a £162,787.20 Retail Offer via the BookBuild platform.

The Company successfully completed the oversubscribed Placing through the issue and allotment of an aggregate of 7,812,500 new ordinary shares of £0.01 each in the Company with certain existing and new institutional and other investors at a price of 160 pence per Placing Share.

The Issue Price represents a discount of approximately 13.5% per cent. to the middle market closing price of an ordinary share of £0.01 each in the Company on 26 April 2023. The Placing Shares represent approximately 8.7% per cent. of the issued share capital of the Company prior to the Placing.

The Company is also pleased to have raised £162,787.20 pursuant to its Retail Offer via the BookBuild Platform from existing retail shareholders. A total of 101,742 new ordinary shares of £0.01 each will be issued at 160 pence per Retail Offer Share.

ZOO’s board is focused on delivering strong organic growth and making strategic investments and acquisitions to accelerate ZOO’s position in leading growth markets. To this end, the Company has entered into a formal process to acquire 100% of the share capital of one of the Company’s trusted partners in Japan being a media localisation subsidiary of a leading Japanese technology company in a transaction that is expected to close in Q3 2023. The purpose of the Placing is to provide sufficient capital to fully finance this proposed acquisition.

About ZOO Digital Group plc

ZOO supports major Hollywood studios and streaming services to globalise their content and reach audiences everywhere, by providing world-leading, technology-enabled localisation and media services.

Founded in 2001, ZOO operates from hubs in Los Angeles, London, Dubai, Turkey, South Korea, India and Denmark with a development and production centre in Sheffield, UK.

Ticker: ZOO
Market Cap: £134.77 million**
Website: Click here

*Singer Capital Markets is acting as Joint Broker and Joint Bookrunner alongside the Company’s existing Broker and Bookrunner

**As at 12/05/2023