Business
Placing and Subscription, Conversion of CLNs
Placing and Subscription, Conversion of CLNs.
About this update from B90 Holdings Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. FURTHER DETAILS OF THE FUNDRAISING ARE SET OUT BELOW.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF TRACKWISE DESIGNS PLC.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n15 September 2023\nB90 Holdings plc\n(\"B90\", the \"Company\" or \"Group\")\nPlacing and Subscription to Raise £2.0 million\nConversion of CLNs and Completion of Acquisition\nB90 Holdings plc (AIM: B90), the online marketing and service provision company for the gaming industry, is pleased to announce that it has raised £2.0 million (before expenses) through a placing (the \"Placing\") and subscription (the \"Subscription\") (together, the \"Fundraising\") of 36,731,551 new ordinary shares (the \"Fundraising Shares\") of no par value each in the capital of the Company (\"Ordinary Shares\") at a price of 5.44491 pence per Ordinary Share (the \"Issue Price\").\nKey Highlights & Use of Proceeds\nThe £2.0 million gross proceeds of the Fundraising will be used as follows: \n· £1.1 million: investments in inorganic growth opportunities \n· £0.4 million: further investment in B90's own assets\n· £0.5 million: general working capital and Fundraising expenses\nThe Issue Price represents a discount of 10 per cent. to 5-day volume weighted average price per Ordinary Share as at close of business on 12 September 2023.\nThe Fundraising S...