Business
Signing of Subscription Agreement and TVR
Signing of Subscription Agreement and TVR.
About this update from Engage Xr Holdings Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n 27 February 2023\n \n \n \n \n \n \n \n \n \n ENGAGE XR Holdings plc\n \n \n \n \n \n \n \n \n \n (\"ENGAGE XR\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Signing of Subscription Agreement and Total Voting Rights\n \n \n \n \n \n \n \n \n \n \n \n \n \n ENGAGE XR Holdings plc (AIM: EXR), a leading metaverse technology company, is pleased to announce that, further to the announcement of 6 February 2023, the subscription agreement pursuant to which HTC will subscribe for 14,495,985 Ordinary Shares at 4p per share has now been entered into. \n \n \n \n \n \n The £0.58m subscription by HTC, together with the proceeds of the Placing, will provide the Company with gross proceeds of £9.375 million (€10.5 million).\n The Subscription is conditional on, inter alia, the Placing proceeding which is subject to the passing of the Resolutions at the EGM of the Company to be held on 3 March 2023.\n \n \n \n \n \n HTC is considered to be a related party of the Company for the purposes of the AIM Rules by virtue of its status as a substantial shareholder of the Company. The independent directors, being the full board save for Praveen Gupta by virtue of him being a board representative of HTC, having consulted with finnCap, the Company's nominated adviser, consider the terms of the subscription for Shares by HTC to be fair and reasonable insofar as the shareholders of the Company are concerned.\n \n \n \n \n \n Applications will shortly be made to Euronext Dublin and to the London Stock Exchange for the Shares issued pursuant to the subscription (\"Subscription Shares\") to be admitted to trading on Euronext Growth and AIM respectively (\"Admission\"). It is expected that settlement of the Subscription Shares will occur, Admission will become effective and that dealings will commence in the Subscription Shares at 8.00 a.m. (London Time) on 6 March 2023. The Subscription is conditional, among other things, upon Admission becoming effective and the subscription agreement between the Company and HTC (the \"Subscription Agreement\") not being terminated in accordance with its terms.\n \n \n \n \n \n Following Admission, and taking into account the Placing Shares, the Company's issued share capital will consist of 524,826,146 Ordinary Shar...