Polemos to acquire Digitalbox Publishing, Mashed Production for £11.2m

Writer, Stock Market Wire
Friday, February 8, 2019 - 07:24

Polemos said it had agreed to acquire both Digitalbox Publishing and Mashed Productions for up to £11.2m combined.

Digital media business Digitalbox would be acquired for around £10m via the issue of around 72.7m new shares.

Mashed Productions, which owned the online satirical news website 'The Daily Mash', would be acquired for up to £1.2m, via the issue of about 1.4m news shares and up to £1m in cash.

Polemos also said it would raise around £1.0m via the issue of new shares in the company at 14p each.

It would also change its name to Digitalbox to reflect the new direction of the company.

'I am pleased to be able to announce the acquisitions which, subject to shareholder approval, will result in the successful conclusion of the process announced in September, and will enable Shareholders to benefit from the exciting potential of the Digitalbox platform and management team,' chairman Nigel Burton said.


Related content

Digitalbox to list on AIM via reverse takeover of Polemos

Digital media business Digitalbox Publishing Holdings said it would seek a listing on AIM via a reverse takeover of Polemos.

Polemos would subsequently be renamed...

Mon, 21/01/2019 - 09:07


Polemos agrees to acquire digital media company Digitalbox Publishing

Cash shell Polemos said it had agreed a conditional heads of terms to acquire digital media business Digitalbox Publishing, subject to certain conditions and due...

Mon, 10/09/2018 - 09:07


Cash shell Polemos hunts for takeover suitors as losses narrow

Cash shell Polemos said its first-half losses narrowed to £177k, compared to a loss of £391k in the previous six months through June.

At June...

Wed, 04/07/2018 - 13:22


Biometrics group in surprise decision to float in UK

Author: 

Shares in AIM-quoted cash shell Polemos (PLMO:AIM) have been suspended after it agreed a reverse takeover of US-based cyber security group SecurLinx. The...

Thu, 14/09/2017 - 01:00


Polemos amends proposed Oyster O&G investment

Polemos said that, further to the announcement of 1 June, it has amended the terms of its investment into TSX-V listed Oyster Oil & Gas...

Wed, 21/06/2017 - 07:43