Vinyl Group has executed a Head of Agreement to acquire Concrete Playground, a digital city guide platform covering Sydney, Melbourne, Brisbane, Auckland, and Wellington, for $5 million.

The acquisition terms include:

• $3.5 million in cash payment
• $1.5 million in Vinyl Group shares (12,676,413 shares at $0.11833 per share)
• 12-month escrow period for issued shares
• $300,000 held in escrow for potential claims

Key Business Impact:

• Concrete Playground's current annual revenue: $4 million
• Expected pro-forma EBITDA: $1.5 million
• Accelerates group-wide positive cash flow by six months
• Completion expected by February 28, 2025

Leadership Changes:

• Concrete Playground Founder & CEO Rich Fogarty will exit after ensuring smooth integration
• Business will operate under Vinyl Group's media division

Vinyl Group CEO Josh Simons states the acquisition will enhance their media strategy and accelerate profitability. Rich Fogarty expresses confidence in Vinyl Group's ability to elevate the platform's future growth.

The deal remains subject to standard conditions, including Share Sale Agreement execution, due diligence completion, and necessary regulatory approvals.

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