TIDMGMR

RNS Number : 3382N

Gaming Realms PLC

08 August 2017

Gaming Realms plc

(the "Company" or the "Group")

Proposed Subscription of 10,295,455 new Ordinary Shares at 11 pence per share to raise GBP1,132,500

and

Directors' Dealings

Gaming Realms plc (GMR.L), the developer, publisher and licensor of mobile real money and social games, is pleased to announce that it has conditionally raised GBP1,132,500 (before expenses) from a number of investors, through a conditional subscription of 10,295,455 new ordinary shares of 10 pence each ("Ordinary Shares") in the capital of the Company ("Subscription Shares") at a price of 11 pence per Subscription Share (the "Subscription Price") (the "Subscription").

The Subscription Shares represent approximately 3.8 per cent. of the existing issued share capital of the Company.

The proceeds of the Subscription will be used to increase unique game creation to enhance the game library for both our real money gaming platform and licensing the content on our remote game server.

As part of the proposed Subscription certain directors of the Company (the "Subscribing Directors") have agreed to subscribe, in aggregate, for 1,863,636 Subscription Shares at the Subscription Price. The resulting holdings of the Subscribing Directors following admission of the Subscription Shares are set out below:

 
Director        Subscription          Ordinary Shares  % of enlarged 
                      Shares   held post Subscription          share 
                                                        capital post 
                                                        Subscription 
--------------  ------------  -----------------------  ------------- 
Michael 
 Buckley           1,000,000               23,000,000          8.09% 
--------------  ------------  -----------------------  ------------- 
Patrick 
 Southon             681,818               12,417,319          4.37% 
--------------  ------------  -----------------------  ------------- 
Simon Collins        181,818               10,806,742          3.80% 
--------------  ------------  -----------------------  -------------

Application for admission of the Subscription Shares will be made to AIM and it is expected that Admission will become effective on or around 14 August 2017 and that dealings in the Subscription Shares will commence at that time ("Admission"). The Subscription is conditional, inter alia, on Admission becoming effective.

The Subscription Shares, when issued, will be fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission, and will otherwise rank on Admission pari passu in all respects with the existing Ordinary Shares. The Subscription Shares are not, and will not, be offered or sold in any jurisdiction where it would be unlawful to do so.

Total Voting Rights

Following Admission, Gaming Realms' total shares in issue will be 284,428,747 Ordinary Shares. Gaming Realms holds no Ordinary Shares in Treasury. 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, Gaming Realms under the Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Contacts:

 
 Gaming Realms Plc 
  Patrick Southon, CEO         0845 123 3773 
 Peel Hunt LLP 
  Dan Webster / Adrian 
  Trimmings / George Sellar    020 7418 8900 
 Instinctif Partners 
  Matthew Smallwood            020 7457 2020

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCPRMLTMBJMBBR

(END) Dow Jones Newswires

August 08, 2017 02:00 ET (06:00 GMT)

Gaming Realms (LSE:GMR)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Gaming Realms Charts.
Gaming Realms (LSE:GMR)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Gaming Realms Charts.