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Prices & Quotes - UK Markets - 7Digital Group (7DIG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 0.48p
Change Today:
0.050p
Market Cap:
12.93m
Sector:
Media

7digital expands Investec facility by 1m

By Josh White

Date: Monday 18 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Digital music service provider 7digital announced a 1m increase to its revolving credit facility with Investec Bank on Monday, bringing the total facility to 2m.
The AIM-traded firm said the enlarged facility would mature in September 2023, in line with its original terms as agreed in September 2020.

It said the funds drawn would continue to attract interest, payable quarterly, at 6% above the Bank Base Rate.

The company said it would issue 5,437,883 warrants to Investec, with an exercise price of 0.55p and a life of 36 months, in satisfaction of an arrangement fee.

It said the enlarged facility was secured by way of guarantees provided by certain shareholders, including Tamir Koch and David Lazarus, both board directors, as well as the security in place for the existing facility.

"This enlarged credit facility provides low-cost capital that will satisfy our cash requirements as we transition to becoming EBITDA positive," said chief executive officer Paul Langworthy.

"As we stated in our interim results, we have new contracts representing significant revenue that are just awaiting signature.

"While this is taking longer than originally anticipated, we expect they will be finalised in the near-term and enable us to generate positive EBITDA for the full year of 2022."

At 1448 BST, shares in 7digital Group were up 11.52% at 0.53p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

7Digital Group Market Data

Currency UK Pounds
Price 0.48p
Change Today 0.050p
52 Week High 1.73p
52 Week Low 0.42p
Volume 34,424,976
Shares Issued 2,722.09m
Market Cap 12.93m
Beta 0.10

Performance Indicators

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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7Digital Group Dividends

No dividends found

Trades for 26-Jan-2022

Time Volume / Share Price
14:31 500,000 @ 0.49p
14:08 400,000 @ 0.49p
13:49 1,001 @ 0.50p
13:17 500,000 @ 0.50p
13:16 100,000 @ 0.50p

7Digital Group Key Personnel

CEO Paul Langworthy
Finance Director Michael Juskiewicz