Business
Acquisition of Oddsen.nu and Subscription
Acquisition of Oddsen.nu and Subscription.
About this update from B90 Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4644N\n B90 Holdings PLC\n 30 September 2021\n \n \n \n \n For release: 07.00, 30 September 2021\n \n \n \n \n \n B90 Holdings plc\n \n \n (\"B90\", the \"Company\" or \"Group\")\n \n \n \n \n \n Acquisition of Oddsen.nu and Subscription to raise £1.24 million\n \n \n \n \n \n B90 Holdings plc (AIM: B90), the online marketing and operating company for the gaming industry, announces that it has entered into an agreement with Performance Media SIA (the \"Vendor\") to acquire certain assets, including the domain, business IP and 100% of the operations of Oddsen.nu (\"Oddsen\"), a Norwegian sports-bet affiliate site (the \"Acquisition\").\n \n \n \n \n \n The Company is also pleased to announce that it has raised £1.24 million (before expenses) through a subscription of 8,888,465 new ordinary shares of no par value in the capital of the Company (\"Ordinary Shares\") (the \"Subscription Shares\") with certain existing and new investors at a price of 14 pence per Ordinary Share (the \"Issue Price\") (the \"Subscription\"). The Issue Price represents a premium of 19% to yesterday's closing mid market price per Ordinary Share, being the last practicable business day prior to this announcement, of 11.75 pence. \n \n \n \n \n \n The Acquisition\n \n \n \n \n \n Oddsen.nu has been operating for over 20 years in its home market of Norway. Oddsen \n connects publishers with affiliate programs that allow them to promote sports book gambling-related offers. Its operations include \n producing media content covering \n a wide range of \n sports news, sport event\n s,\n analysis and forecasts\n , which it then \n publish\n es\n \n o\n n \n its website Oddsen.nu.\n Oddsen.nu also offers a major forum, where end users can discuss sports betting related events 24-7\n and\n has generated winning odds tips for its visitor for a number of years\n ,\n free of charge.\n \n \n \n \n \n For the financial year ending 31 December 2020, the assets being acquired generated €781,000 of revenue and net profits of €616,000, as set out in the unaudited management accounts of Performance Media SIA as at 31 December 2020. As at 31 December 2020, Oddsen.nu had net assets of €86,000. \n \n \n \n \n \n The aggregate consideration for the Acquisition of approximately €4.37 ...