Sale agreement with 108 Media
DCD Media Plc is an AiM listed holding company which historically owned DCD Rights, a global TV distribution business together related trading entities.
In December 2021, shareholders of DCD Media Plc approved the sale of all DCD Media Plc’s existing business, assets and liabilities, which had been consolidated under NBD Holdings Limited, to 108 Media for an agreed consideration, payable over 18 months in agreed instalments.
The sale process ensured the long-term growth of DCD Rights which today remains at the forefront of international distribution.
Since the consideration was not paid in full on completion of the sale and that DCD Media Plc has an irrevocable option to re-acquire the entire issued share capital of NBD Holdings for nil consideration if 108 Media does not pay any instalment; DCD Media Plc’s purpose is to remain active and responsive until such payments have been received in full and distributed to its shareholders.
In the meantime, DCD Media Plc’s directors retain directorial control of NBD Holdings and its subsidiaries, businesses and assets until the performance of the sale agreement has been completed.
DCD Media Plc’s normal business therefore is to ensure the performance of the sale agreement entered into on December 12th 2021 with 108 Media is met in full and that its shareholders returns are distributed accordingly.