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Results: OMIP

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One Media iP – trading update, funding decision change due to “future potential”?

One Media iP (OMIP) has issued a trading update including that it is “pleased to be on course to deliver results that are in line with expectations, including double digit revenue growth… the outlook for the music industry, despite wider market challenges, remains on a strong and positive growth trajectory”. So what of a share price currently up more than 7.5% at 7p, to give a £15.6 million market cap?

One Media iP – following July results positivity, a ‘Horlick(s)’ of a fundraising

One Media iP (OMIP) “is pleased to announce a proposed placing and subscription to raise a minimum of £1.9 million of new equity capital at an issue price of 6 pence per new ordinary share, and the proposed issue of up to £6 million of (7% per annum interest from date of issue) loan notes”, including emphasising the placing price “represents a premium of 240 per cent. to the price of 2.5 pence per ordinary share at which Lord Michael Grade and Ivan Dunleavy first invested in the company in December 2017”. Sounds positive then…

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