Business
Readmission and First Day of Dealings
Readmission and First Day of Dealings.
About this update from B90 Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6937C Veltyco Group PLC 30 June 2016 \n\n30 June 2016\n \nVeltyco Group PLC\n(\"Veltyco\" or \"the Group\")\n \nReadmission and First Day of Dealings\n \nVeltyco Group plc (AIM:VLTY), a profitable and cash generative marketing company for online gaming, lottery and binary option businesses, is pleased to announce the re-admission today of its ordinary shares to trading on the AIM Market of the London Stock Exchange and the commencement of dealings in its ordinary shares under the ticker VLTY.\n \nStockdale Securities is acting as Nominated Advisor and Broker to the company.\n \nSUMMARY \n \n· Change of name to Veltyco Group plc (formerly Velox3 plc)\n· The Company raised £0.54 million before expenses by way of a Subscription of 2,152,172 Subscription shares at a price of 25 pence per Subscription Share.\n· Following a consolidation of the share capital in which each holder of every 25 or more Existing Ordinary Shares will be entitled to receive one Ordinary Share, the Company will have, on re-admission, 56,059,269 ordinary shares in issue.\n· The market capitalisation of Veltyco on Admission at the subscription price is £14 million.\n· The net proceeds of the Subscription will be used to support the working capital needs of the Enlarged Group and to continue the Enlarged Group's marketing activities in gaming, lottery and binary options.\n \n \nINVESTMENT HIGHLIGHTS\n \n· The Group has acquired the entire issued share capital of Sheltyco Enterprises Group Limited (founded in 2011) which specialises in marketing and promotion activities in three fast growing markets: \no Online gaming (Betsafe - online casino and sports betting)\no Lottery (Lottopalace)\no Binary options (Option888)\n· Profitable and cash generative since 2013.\n· Following Admission, the Enlarged Group will also review potential acquisition opportunities which fit into the company's profile.\n· The Directors intend to declare dividend payments as soon as it becomes commercially prudent to do so.\n \nThe company's admission document can be fou...