Business
Oddsen Acquisition Update
Oddsen Acquisition Update.
About this update from B90 Holdings Plc
[{"type":"text","content":"\n \n \n \n 13 May 2022\n \n \n \n \n \n \n B90 Holdings plc\n \n \n (\"B90\", the \"Company\" or \"Group\")\n \n \n \n \n \n \n Oddsen Acquisition Update\n \n \n \n \n \n \n \n Issue of equity in relation to deferred consideration\n \n \n \n \n \n \n The Company announced on 30 September 2021 that it had acquired the domain, business IP and 100% of the operations of Oddsen.nu (\"Oddsen\"), a Norwegian sports-bet affiliate site (the \"Acquisition\"). As part of the terms of the Acquisition a payment of €1.05 million was due on or before 31 March 2022, (the \"Deferred Consideration\") which, at the discretion of the Company, could be satisfied either in cash or by the allotment and issue of new ordinary shares of no par value in the capital of the Company (\"Ordinary Shares\"), with such number of new Ordinary Shares to be calculated by reference to the volume weighted average closing price per Ordinary Share over the five business days immediately preceding the date of allotment.\n \n \n \n \n \n Accordingly, the Company is pleased to announce that the Deferred Consideration has been satisfied by the issuance of 13,452,632 new Ordinary Shares at a price of 6.65p pence per share.\n \n \n \n \n \n \n Admission\n \n \n \n \n \n \n These new Ordinary Shares will rank pari passu with the existing Ordinary Shares and application is being made to the London Stock Exchange plc for admission of the 13,452,632 new Ordinary Shares to trading on AIM (\"Admission\") which is expected to take effect at 08.00 am on or around 20 May 2022.\n \n \n \n \n \n \n Total voting rights\n \n \n \n \n \n \n \n \n On Admission, the Company's total issued share capital will consist of 251,859,215 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. On Admission, the abovementioned figure of 251,859,215 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, B90 under the Financial Conduct Authority's Disclosure and Transparency Rules.\n \n \n \n \n \n \n Commenting on the performa...