Veltyco Group PLC Share Subscription (5397A)
30 May 2019 - 4:00PM
UK Regulatory
TIDMVLTY
RNS Number : 5397A
Veltyco Group PLC
30 May 2019
30 May 2019
Veltyco Group plc
("Veltyco", the "Company" or the "Group")
Share Subscription
Veltyco Group plc (AIM:VLTY), the online marketing and operating
company for the gaming industry, is pleased to announce that it has
raised EUR300,000 (GBP264,000) through a subscription with an
existing investor, Mr Peter Paul Westerterp, of 4,000,000 new
ordinary shares of no par value ("Ordinary Shares") (the
"Subscription Shares") equating to an issue price of 6.6 pence per
share (the "Issue Price") (the "Subscription"). The proceeds of the
Subscription will be used for general working capital purposes.
The Issue Price represents a 128 per cent. premium to the
Company's closing middle market share price of 2.9 pence on 29 May
2019, being the last practicable business day prior to this
announcement.
The Subscription is conditional on the admission of the
Subscription Shares to trading on AIM. Application will be made to
the London Stock Exchange for the Subscription Shares to be
admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and that dealings in the
Subscription Shares will commence at 8.00 a.m. on 5 June 2019.
Further to the Company's announcement on 17 May 2019, and
notwithstanding the Subscription, the Directors continue to manage
the Group's cash resources carefully, and whilst they believe that
the Group is able to continue to meet its liabilities as they fall
due, if trading is not in line with their expectations going
forward, the Group's ability to meet such liabilities as they fall
due may be impacted. Accordingly, the Directors continue to explore
further appropriate sources of capital.
Following Admission, the Company's total issued share capital
will consist of 82,489,492 Ordinary Shares with voting rights. The
Company does not hold any Ordinary Shares in treasury and
accordingly there are no voting rights in respect of any treasury
shares. The Subscription Shares will be fully paid and will rank
pari passu in all respects with the Company's existing Ordinary
Shares.
With effect from Admission, the abovementioned figure of
82,489,492 Ordinary Shares may be used by shareholders in the
Company 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, Veltyco under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
Following Admission, Mr Peter Paul Westerterp will be interested
in 4,200,000 Ordinary Shares, representing approximately 5.1 per
cent. of the Company's then enlarged share capital.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Veltyco Group Plc +44 (0)1624 605 764
Paul Duffen, Chairman
Marcel Noordeloos, Chief Financial Officer
Strand Hanson Limited (Nominated Adviser) +44 (0)20 7409 3494
James Harris / Richard Tulloch / James Dance
Whitman Howard Ltd (Broker) +44 (0)20 7659 1234
Nick Lovering / Christopher Furness
IFC Advisory (Financial PR & IR) +44 (0)20 3934 6630
Graham Herring / Miles Nolan / Zach Cohen
About Veltyco
Veltyco is a group of companies focused on the operation of its
own online Sportsbook and Casino product as well as marketing
activities for other online gaming companies.
Website: www.veltyco.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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