Business
Result of AGM, Restoration to Trading, Acquis...
Result of AGM, Restoration to Trading, Acquis....
About this update from Nyce International Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n5 March 2025 ChallengerX plc (\"ChallengerX\", \"CXS\" or the \"Company\") Result of AGM, Restoration to Trading, Acquisitions, Issue of Equity, Board Changes and PDMR ChallengerX (AQUIS: CXS) announces that all resolutions were duly passed at the Company's Annual General Meeting (\"AGM\") held earlier today. Following the passing of the Resolutions in the AGM, trading in the Ordinary Shares of the Company will resume at 8 am on Thursday, 6 March 2025. First Sentinel Corporate Finance Ltd has been reappointed as the AQSE Corporate Adviser to the Company effective immediately. Completion of Acquisitions As announced on 10 February 2025, the Company had entered into three conditional agreements for the acquisition of NYCE International Limited (\"NYCE\") for £1,600,000, Virya VC Limited (\"Virya\") for £280,000 and an instance of Reelsoft AB's remote gaming server software (\"RGS\") and Game Aggregation Platform for £160,000 (together \"the Acquisitions\"). The Company had agreed to satisfy the consideration for the Acquisitions in ordinary shares of £0.001 of the Company (\"Ordinary Shares\") which would be issued at £0.004 each. Thus, in connection with the Acquisitions, the Company would be issuing a total of 510,000,000 Ordinary Shares (\"Consideration Shares\"). In addition, the vendors of NYCE, Virya and the RGS will be subject to lock-in agreements. Following the passing of resolutions at the AGM held today, the Company has issued the Consideration Shares and the Acquisitions will be completed on the admission of the Consideration Shares to trading on the AQSE Growth Market. Fundraise and Debt Settlement Additionally, the Company has completed a fundraising of £483,000 through the issue of 241,500,000 subscription shares (\"Subscription Shares\") at a price of £0.002 per share (the \"Issue Price\") and has converted the £120,000 loan note (announced on 8 January 2025) into equity, by issuing 120,000,000 Ordinary Shares at £0.001 per share (\"Loan Note Shares\"). The Company will also grant warrants in the amount of 1 warrant for each 1 Subscription Share and Loan Note Shares at a price of £0.007, exercisable within 1 year of the date of grant. The Company has granted a total of 361,500,000 warrants to subscribe for new ordinary shares of £0.001 each (\...