Business
£1.1m Subscription & New Affiliate Agreements
£1.1m Subscription & New Affiliate Agreements.
About this update from B90 Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8781T\n B90 Holdings PLC\n 30 March 2021\n \n \n \n \n 30\n March 2021\n \n \n B90 Holdings plc\n \n \n (\"B90\", the \"Company\" or the \"Group\")\n \n \n Subscription to raise £1.1 million\n \n \n New Affiliate Agreements\n \n \n B90 Holdings plc (AIM: B90), the sportsbook operator and online marketing company for the gaming industry, is pleased to announce that it has raised £1.1 million (before expenses) through a \n subscription of 7,796,427 new ordinary shares of no par value (\"Ordinary Shares\") (the \"Subscription Shares\") with\n certain existing\n and new\n investors at a price of 14 pence per share (the \"Issue Price\") (the \"\n Subscription\n \").\n \n \n In addition, the Company is pleased to announce that it has entered into affiliate agreements with RB Journalism SIA (trading as oddsen.nu) (\"Oddsen\") and E-2 Communications Ltd (\"E2\") to access potential new customers for, and drive additional traffic to, the Bet90 platform.\n \n \n \n \n \n \n The \n \n \n Subscription\n \n \n \n The Company has raised £1.1 million via a\n \n subscription for the Subscription Shares \n \n at the Issue Price. The Issue Price represents a \n 1.8\n \n per cent. \n premium\n \n to the Company's closing middle market share price of \n 13.75\n \n pence on \n 29\n \n March\n 20\n 21\n , being the last practicable business day prior to this announcement. The Subscription Shares represent 7.6% of the Company's existing issued share capital. The Subscription is conditional on, inter alia, Admission (as defined below).\n \n \n The proceeds of the Subscription will be utilised towards settling the majority of Group's overdue creditors. Accordingly, the Directors consider that the Group is now in a more secure financial position whereby it can focus on an expanding and growing its operations.\n \n \n Furthermore, the Company will issue 285,571 new ordinary shares to settle placing fees amounting to £39,980 payable to third parties (the \"Fee Shares\").\n \n \n \n \n \n New Affiliate Agreements\n \n \n The Company has now finalised the affiliate agreement with Oddsen (as per the announcement of 17 March 2021) to grow the Group's revenues in Norway. The Company considers Oddsen to be one of the key affiliates in Norway, with more than 15 years operational history. The Compa...