Business
Share Subscription
Share Subscription.
About this update from B90 Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 5397A Veltyco Group PLC 30 May 2019 \n\n30 May 2019\n \nVeltyco Group plc\n(\"Veltyco\", the \"Company\" or the \"Group\")\n \nShare Subscription\n \nVeltyco Group plc (AIM:VLTY), the online marketing and operating company for the gaming industry, is pleased to announce that it has raised €300,000 (£264,000) through a subscription with an existing investor, Mr Peter Paul Westerterp, of 4,000,000 new ordinary shares of no par value (\"Ordinary Shares\") (the \"Subscription Shares\") equating to an issue price of 6.6 pence per share (the \"Issue Price\") (the \"Subscription\"). The proceeds of the Subscription will be used for general working capital purposes.\n \nThe Issue Price represents a 128 per cent. premium to the Company's closing middle market share price of 2.9 pence on 29 May 2019, being the last practicable business day prior to this announcement.\n \nThe Subscription is conditional on the admission of the Subscription Shares to trading on AIM. Application will be made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will become effective and that dealings in the Subscription Shares will commence at 8.00 a.m. on 5 June 2019.\n \nFurther to the Company's announcement on 17 May 2019, and notwithstanding the Subscription, the Directors continue to manage the Group's cash resources carefully, and whilst they believe that the Group is able to continue to meet its liabilities as they fall due, if trading is not in line with their expectations going forward, the Group's ability to meet such liabilities as they fall due may be impacted. Accordingly, the Directors continue to explore further appropriate sources of capital.\n \nFollowing Admission, the Company's total issued share capital will consist of 82,489,492 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. The Subscription Shares will be fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.\n \nWith effect from Admission, the abovementioned figure of 82,489,492 Ordinary Shares may be used by shareholders in the Company a...