Business
Result of Placing
Result of Placing.
About this update from Huddled Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 1514M\n Immotion Group PLC\n 06 May 2020\n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY SUCH OFFER, SOLICITATION OR COMMITMENT WHATSOEVER IN ANY OF THOSE JURISDICTIONS.\n Immotion Group plc\n (\"Immotion Group\", \"Immotion\", the \"Company\" or the \"Group\")\n Result of Placing\n Immotion Group, the UK-based immersive virtual reality out-of-home entertainment group, is pleased to announce that it has raised gross proceeds of approximately £1.35 million as result of the fundraising announced earlier today (the \"Placing\").\n A total of 54,062,200 Placing Shares in the Company have been conditionally placed by WH Ireland Limited and Alvarium Capital Partners Limited (the \"Brokers\") with new and existing investors at a price of 2.5 pence per share (the \"Issue Price\").\n Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and it is anticipated that dealings in the Placing Shares will commence on AIM at 8.00 a.m. on 27 May 2020 (\"Admission\"). The Placing Shares will represent approximately 14.2 per cent. of the Company's issued share capital following completion of the Placing (\"Enlarged Share Capital\"). The Issue Price represents a discount of approximately 28.6 per cent. to the closing mid-market price of Immotion's existing ordinary shares of 3.5 pence on 5 May 2020 (being the last business day prior to the announcement of the Placing earlier today).\n The Placing is subject upon, inter alia, shareholder approval, Admission becoming effective and the Placing Agreement becoming unconditional and not being terminated in accordance ...