Update, Suspension of Trading and End of FSP

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

AFERIAN PLC

("Aferian", the "Company" and with its subsidiaries the "Group")

Update

Suspension of Trading

End of Formal Sale Process

Further to announcement of 13 February 2026, the Company confirms that it has explored whether a sale of one or more of the Company's subsidiaries, or the business and assets of one or more of the Company's subsidiaries, will provide a beneficial outcome for the Company's stakeholders ("Alternative Options"). As also previously announced, a number of credible parties have actively engaged in advanced discussions with the Company in relation to Alternative Options to safeguard the Group's trading operations.

The Company's senior lenders have now indicated their support for one of the Alternative Options, in respect of which negotiations are well progressed and which is considered capable of being transacted in the very near term, being a sale of all of the Group's operating subsidiaries (24i and Amino) as going concerns to a single buyer (the "Proposed Sale").

The Proposed Sale would protect the trading operations of the Group, ensure continuity of service to the Group's customers, preserve jobs and provide some return to the Company's senior lenders.

However, the potential consideration receivable by the Company under the Proposed Sale is significantly less than the outstanding amount of the Group's secured banking facilities of $16.5m. Accordingly, no return for shareholders of the Company is expected to result from the Proposed Sale.

The consummation of the Proposed Sale is envisaged to be implemented by means of a pre-packaged sale undertaken immediately following the Company entering administration.

The Board is progressing with the Proposed Sale and is currently in discussions with its advisers and principal stakeholders regarding the potential appointment of administrators in respect of the Company.

Suspension

In light of the above, the Board considers that a suspension of trading is appropriate pending clarification of the Company's financial position and any formal insolvency process in respect of the Company. Trading in the Company's ordinary shares on AIM will therefore be suspended with effect from 7.30am on 6 March 2026 (today).

End of Formal Sale Process

Further to the announcement made on 29 September 2025 in relation to the commencement of a formal sale process (the "FSP") pursuant to Rule 2.4 and Note 2 of Rule 2.6 of the City Code of Takeovers and Mergers (the "Takeover Code"), no firm interest has been received in acquiring the Company and there are no ongoing discussions with any party regarding a possible offer for the Company.

As a result, the Directors of the Company announce today that they have decided to terminate the FSP with immediate effect.

Accordingly, the Company is no longer in an offer period as defined by the Takeover Code. The dealing disclosure requirements under Rule 8 of the Takeover Code no longer apply.

The person responsible for arranging this announcement on behalf of the Company is Mark Carlisle, Chief Executive Officer.

For further information please contact: 

About Aferian plc

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our end-to-end solutions bring live and on-demand video to every kind of screen. We create the forward-thinking solutions that our customers need to drive subscriber engagement, audience satisfaction, and revenue growth.

It is our belief that successful media companies and services will be those that are most consumer-centric, data driven and flexible to change. We focus on innovating technologies that enable our customers to stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering end-to-end modern TV and video experiences to consumers. By anticipating technological and behavioural audience trends, our software solutions empower our customers to heighten viewer enjoyment, drive growth in audience share and ultimately their profitability.

Aferian plc has two operating divisions: 24i, which focusses on streaming video experiences, and Amino, which connects Pay TV to streaming services. Our two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. Our solutions deliver modern TV and video experiences every day to millions of viewers globally, via our growing global customer base of over 500 service providers.

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM: symbol AFRN) and is headquartered in Cambridge, UK.

For more information, please visit www.aferian.com

Additional information

Zeus Capital Limited ("Zeus"), is authorised and regulated by the Financial Conduct Authority in the United Kingdom. Zeus is acting as financial adviser exclusively for Aferian and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters set out in this announcement and will not be responsible to anyone other than Aferian for providing the protections afforded to clients of Zeus or its affiliates, or for providing advice in relation to the contents of this announcement or any other matter referred to herein.

Publication on a website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at https://aferian.com/investors. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.