Zinc Media Group (ZIN): Herald debt facilities and conversion
This situation live
ZIN Zinc Media Group
17 Apr 2026 · Partial conversion agreed; admission pending · +4% until the next step
Zinc has also agreed with Herald Investment Trust plc ("Herald"), the holder of a portion of the Company's long-term debt, to convert c. £551,000 of their outstanding debt facilities with the Company
28 Oct 2026 · Lloyds covenant waiver under discussion · +0% since
The Company is in constructive discussions with Lloyds Bank plc to forgo certain covenant tests under the terms of its Facility (the “Financing Approval”), which will give the Company greater cash fle
Herald debt facilities and conversion
Lloyds covenant waiver under discussion
NOV19
Next: Lloyds covenant waiver (Financing Approval) alongside the fundraise in 21 days
Every step · 2
- 17 Apr 2026 Partial conversion agreed; admission pending – Zinc has also agreed with Herald Investment Trust plc ("Herald"), the holder of a portion of the Company's long-term debt, to convert c. £551,000 of their... ↗
- 28 Oct 2026 Lloyds covenant waiver under discussion – The Company is in constructive discussions with Lloyds Bank plc to forgo certain covenant tests under the terms of its Facility (the “Financing Approval”),... ↗
What is happening
Zinc Media Group: Herald debt facilities and conversion – Lloyds covenant waiver under discussion. ['Lloyds covenant waiver under discussion']
- In short
- Herald debt was part-converted to equity in April 2026. On 28 Oct 2026 Zinc said it was in talks with Lloyds to forgo certain covenant tests under its facility, interconditional with the fundraise. Net debt was £1.1m at 30 Jun 2026, so balance-sheet stress is rising.
- Announced
- 17 Apr 2026 · Partial conversion agreed; admission pending
- Latest
- 28 Oct 2026 · Lloyds covenant waiver under discussion
- Net debt
- £1.1m at 30 June 2026 (30 June 2025: net cash £0.7m)
- Lloyds
- In constructive discussions to forgo certain covenant tests
- Conditions
- The Financing Approval and the Fundraise are interconditional
What comes next
Lloyds covenant waiver (Financing Approval) alongside the fundraise (19 Nov 2026).
Briefing
Zinc Media Group in 4 minutes
Zinc Media Group is an AIM-listed UK maker of factual TV, entertainment shows and brand films, with fast-growing work in the Middle East. After five years of rising profit, 2026 stalled: the Iran war pushed about...
- Act 1Pruning the portfolio, buying Raw Cut
- Act 2Betting on entertainment, the Middle East and owned IP
- Act 3The Iran war hits 2026
From the company's own announcements. Not investment advice.
Also at Zinc Media Group 3 open
Dilutive fundraisePlacing of 15% of the market value – announced
Upgrade / downgrade cycleResults ahead of expectations – ahead of expectations
Stake building towards controlAberdeen Group plc towards control – 32.2926% (from 0%)
Zinc Media Group – company page →