Result of Open Offer

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28 March 2017

7digital Group plc("7digital" or the "Company")

Result of Open Offer

On 10 March 2017, the Company published its shareholder circular (the "Circular") in connection with the Capital Raising and the Share Capital Reorganisation.

The Open Offer closed for acceptances at 11.00 a.m. on 27 March 2017.

The Company is pleased to announce that it has received valid acceptances from Qualifying Shareholders in respect of 9,345,926 Open Offer Shares, including applications for 4,695,440 Open Offer Shares under the Excess Application Facility. This represents approximately 80.76 per cent. of the maximum number of Open Offer Shares available under the Open Offer.

Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement and any New Ordinary Shares they applied for under the Excess Application Facility.

The Company has therefore raised gross proceeds of approximately £0.6 million through the Open Offer. It is expected that the Admission of the 9,345,926 Open Offer Shares will become effective at 8.00 a.m. on 29 March 2017.

Open Offer Shares (in uncertificated form) are expected to be credited to CREST accounts on 29 March 2017 and definitive share certificates for the Open Offer Shares (in certificated form) are expected to be despatched to shareholders who hold their Ordinary Shares in certificated form by 14 April 2017.

The Capital Raising remains conditional upon, amongst other things, Shareholder approval of the Resolutions at the General Meeting to be held later today and Admission.

Commenting on the Open Offer, 7digital's CEO Simon Cole said:

"I am delighted with the strength of the support shown by our existing shareholders through the Open Offer. We view this as a vote of confidence in the company and our prospects for 2017. I am pleased to say that 7digital has a strong pipeline of potential business this year and I look forward to updating on our progress and in particular on news regarding the potential acquisition of 24-7 in the near future."

Capitalised terms used in this announcement shall have the same meanings given to them in the Circular.

Enquiries:

7digital is the global leader in end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.

7digital fosters industry growth and innovation by simplifying access to music for clients such as Onkyo, Fnac, Musical.ly, Global Radio and E.Leclerc. From years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories, and powering services for partners like HMV, Electric Jukebox and Panasonic, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

finnCap is authorised and regulated by the Financial Conduct Authority in the United Kingdom and is acting exclusively for the Company and no one else in connection with the Capital Raising, and finnCap will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Capital Raising or any other matters referred to in this announcement.

No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by finnCap or by any of its affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefor is expressly disclaimed.