TIDMGFIN
RNS Number : 5336J
Gfinity PLC
24 August 2021
THIS ANNOUNCEMENT AND THE INFORMATION HEREIN IS RESTRICTED AND
IS NOT FOR PUBLICATION, RELEASE, TRANSMISSION, DISTRIBUTION OR
FORWARDING DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA,
JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION,
TRANSMISSION, RELEASE, DISTRIBUTION OR FORWARDING WOULD BE
UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
24 August 2021
Gfinity PLC
("Gfinity", the "Company" or the "Group")
Results of Placing & Publication of Circular
Further to the announcements of 23 August 2021 regarding the
proposed Placing via accelerated bookbuild and PrimaryBid Offer
(the "Placing Announcements"), the Company is pleased to announce
that it has conditionally raised GBP3.3 million (before expenses)
under the Placing, Subscription and PrimaryBid Offer. The Placing
was oversubscribed.
Canaccord Genuity acted as Nominated Adviser, Sole Bookrunner
and Sole Broker in connection with the Fundraising.
The following Directors have agreed to subscribe for the
following New Ordinary Shares at the Issue Price:
Director/Related Party Number of New Ordinary Value of New Ordinary
Shares subscribed Shares subscribed
John Clarke 625,000 GBP25,000
======================= ======================
Jonathan Hall 250,000 GBP10,000
======================= ======================
TOTAL 8 75,000 GBP 35,000
======================= ======================
The funds raised include gross proceeds of GBP0.3 million at 4.0
pence per Ordinary Share via the PrimaryBid Offer, which closed for
participation at 7:00 p.m. on 23 August 2021. The Company will
therefore issue and allot a total of 7,500,000 New Ordinary Shares
to satisfy the PrimaryBid Offer.
Subject to shareholder approval, the Company will issue
82,500,000 new Ordinary Shares pursuant to the Placing,
Subscription and PrimaryBid Offer at the issue price of 4.0 pence
per share. Admission and dealings in the Placing Shares,
Subscription Shares and the PrimaryBid Shares are expected to
commence on AIM on 13 September 2021, subject to the passing of the
Resolutions by Shareholders at the General Meeting.
A circular, containing further details of the Fundraising and
notice of the General Meeting to be held at 10.00 a.m. on 10
September 2021 to, inter alia, approve the resolutions required to
implement the Fundraising, is expected to be published and
despatched to Shareholders today, 24 August 2021 (the "Circular").
Following its publication, the Circular will be available on the
Group's website at
https://www.gfinityplc.com/investors/reports/
Words and phrases defined in the Placing Announcements will have
the same meanings in this announcement.
Enquiries :
Gfinity plc www.gfinityplc.com
John Clarke, CEO Via Teneo
Teneo (Media) Tel: +44 7880 715975
Anthony Di Natale Gfinity@teneo.com
Canaccord Genuity Limited (Nominated Adviser, Tel:+44 (0)207 523
Sole Bookrunner & Sole Broker) 8150
Bobbie Hilliam / Georgina McCooke
About Gfinity
Gfinity (AIM: GFIN) is a world leading esports business. Created
by gamers for the world's 2.7 billion gamers, Gfinity has a unique
understanding of this fast-growing global community. It uses this
expertise both to provide advisory services and to design, develop
and deliver unparalleled experiences and winning strategies for
game publishers, sports rights holders, commercial partners and
media companies.
Gfinity connects its partners with the esports community in
authentic and innovative ways. This consists of on-- and off-line
competitions and industry--leading content production.
Relationships include EA SPORTS, Activision Blizzard, F1 Esports
Series and the Forza Racing Championship.
Gfinity connects directly with tens of millions of gamers each
month through its digital media group, Gfinity Digital Media.
Gfinity Digital Media includes websites such as: Gfinityesports,
RealSport101, StealthOptional, RacingGames.gg, MTGRocks.com and
their respective social channels.
All Gfinity services are underpinned by the Company's
proprietary technology platform delivering a level playing field
for all competitors and supporting scalable multi-format leagues,
ladders and knockout competitions.
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