YOLO Leisure & Technology PLC Further Issue of Equity (5006O)
07 November 2016 - 9:54PM
UK Regulatory
TIDMYOLO
RNS Number : 5006O
YOLO Leisure & Technology PLC
07 November 2016
YOLO Leisure and Technology plc
("YOLO" or the "Company")
Additional Placing
Further to the announcement released earlier today, the Company
announces that it has raised a further GBP40,000 by means of a
placing of 4 million new ordinary shares of 1p each in YOLO at a
price of 1.0p per share with Simon Robinson, Chief Executive
Officer of the Company ("Additional Placing Shares"). As part of
the placing, the Company has also issued 800,000 warrants to Mr
Robinson to subscribe for new ordinary shares in YOLO at 1.3p per
share ("Warrants"), on the basis of one warrant for every five
Additional Placing Shares acquired.
In addition, a further 9,000,000 warrants at 1.3p have been
awarded to Simon Robinson and can be exercised up to October 2019
from the date of this transaction ("Director Warrants").
Mr Robinson's participation in the Placing and resultant
interests are as follows:
Director Acquired Resultant beneficial interest
---------------- ----------------------- -----------------------------------------
Additional Warrants Ordinary % of enlarged Warrants
Placing shares share capital
Shares
---------------- ----------- ---------- ----------- --------------- -----------
Simon Robinson 4,000,000 9,800,000 11,260,432 2.55 14,661,538
---------------- ----------- ---------- ----------- --------------- -----------
Mr Robinson's participation in the Placing and the issue to him
of the Director Warrants are considered to be related party
transactions under the AIM Rules for Companies. Sohail Bhatti,
Finance Director, having consulted with the Company's Nominated
Adviser, considers that the terms of participation of Mr Robinson
in the Placing and the Director Warrants are fair and reasonable in
so far as the Company's shareholders are concerned.
Application has been made for the Additional Placing Shares to
be admitted to trading on AIM. Admission is expected to occur on or
around 8 November 2016. The Additional Placing Shares will rank
pari passu with the existing ordinary shares.
Following the Admission of all the Placing Shares from both
placings announced today and the Adviser Shares, the total issued
share capital of the Company will be 441,322,758 ordinary shares,
each with voting rights. The above figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company, under the Disclosure
and Transparency Rules.
--ENDS-
For further information please contact:
YOLO Leisure and Technology plc
Simon Lee Robinson Simon.robinson@yoloplc.com
Cairn Financial Advisers LLP
Sandy Jamieson, Emma Earl Tel: +44 20 7213 0893
Peterhouse Corporate Finance Limited Tel: + 44 20 7213 0930
(Sole broker)
Eran Zucker / Lucy Williams
Walbrook PR Ltd Tel: +44 20 7933 8787 or
yolo@walbrookpr.com
Paul McManus Mob: +44 7980 541 893
Sam Allen Mob: +44 7884 664 686
This information is provided by RNS
The company news service from the London Stock Exchange
END
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