Gaming Realms PLC Proposed subscription to raise £1.1 million (3382N)
August 08 2017 - 2:00AM
UK Regulatory
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
Gaming Realms (LSE:GMR)
Historical Stock Chart
From May 2023 to May 2024