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One Media iP ( (GB:OMIP) ) just unveiled an announcement.
One Media iP Group plc announced the disposal of its non-core technology subsidiary, TCAT Limited, in exchange for a shareholding in Round Group Limited. This move aligns with the company’s strategy to focus on its core expertise in digital music rights management, allowing for streamlined operations and positioning the company to enhance shareholder value. The company reported stable revenues of approximately £5.0 million for the financial year ending October 2024, with a notable 15% increase in EBITDA to £2.1 million, attributed to effective cost management. CEO Michael Infante highlighted the strategic disposal’s role in strengthening the company’s financial position and reiterated the priority of growing cash reserves while exploring opportunities to enhance the music rights portfolio.
More about One Media iP
One Media iP Group plc is a leading digital music rights acquirer, publisher, and distributor. The Group specializes in the acquisition and exploitation of music and video intellectual property rights and is listed on the AIM Market of the London Stock Exchange under the ticker ‘OMIP’.
YTD Price Performance: 0.0%
Average Trading Volume: 221,260
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £9.45M
See more insights into OMIP stock on TipRanks’ Stock Analysis page.
