Business
Placing, Posting of Circular and Notice of GM
Placing, Posting of Circular and Notice of GM.
About this update from Gfinity Plc
[{"type":"text","content":"\n \nRNS Number : 6404R Gfinity PLC 25 September 2017 \n\n \nPrior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n \n25 September 2017\n \nGfinity plc\n(\"Gfinity\" or the \"Company\")\n \nProposed placing to raise £7.0m\nPosting of Circular and Notice of General Meeting\n \nGfinity plc (AIM: GFIN), a leading esports business, announces a conditional placing and subscription of 25,925,926 new ordinary shares in the Company (\"Placing Shares\") at a price of 27p per Placing Share (the \"Placing\") to raise £7.0m (before expenses), subject to shareholder approval at a general meeting. \n \nThe Placing is being undertaken to support the next phase of development of Gfinity's pioneering Elite Series competition, to accelerate international expansion and to further invest in the Company's leading esports technology platform. \n \nFurther information on the Company, current trading and its strategy is set out further below in the extracts from the shareholder Circular.\n \nPlacing Highlights:\n \n· Oversubscribed placing to raise £7 million before expenses.\n· Placing to take place at price of 27p per share, representing a discount of only 2.2% to the closing mid-market share price on 22 September 2017 of 27.62p.\n· Placing subject to Shareholder approval at a General Meeting of the Company on 11th October 2017. If approved, the Placing Shares will be admitted to AIM on 12 October 2017.\n· Placing Shares will represent 11.9% of a total enlarged share capital following completion of 218,203,545 ordinary shares.\n· Placing supported by existing major shareholders including Charles Street International Holdings Ltd, Nigel Wray.\n \nNeville Upton, Chief Executive Officer at Gfinity Plc said:\n \n\"Gfinity has made significant progress in the last 6 months, with highlights including: the successful launch of Elite Series in UK, announcement of a partnership with HT&E Ltd to launch ...