THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
2 November 2015
Gfinity plc
("Gfinity" or the "Company")
Result of Placing and Director Dealing
Gfinity is pleased to announce the successful completion of the Placing announced earlier today.
A total of 5,263,157 Placing Shares have been placed at a Placing Price of 19 pence per Placing Share, representing a discount of approximately 22.4 per cent. to the closing price on 30 October 2015, being the last business date before this announcement.
Based on the Placing Price, the gross proceeds of the Placing are £1 million. The Placing Shares will represent approximately 6.3 per cent. of the enlarged issued ordinary share capital of the Company.
The Company also announces that the following directors and substantial shareholders have subscribed for Placing Shares at the Placing Price as set out below:
Director / substantial shareholder |
Beneficial holding of Ordinary Shares before Placing |
Number of Placing Shares each to be purchased |
Beneficial holding of Ordinary Shares after Placing |
% of expected Enlarged Share Capital |
Neville Upton |
14,579,000 |
131,579 |
14,710,579 |
17.70 |
Euroblue Investments Limited |
10,977,466 |
263,158 |
11,240,624 |
13.53 |
Tony Collyer |
903,000 |
131,579 |
1,034,579 |
1.24 |
Related party transaction
As Tony Collyer and Neville Upton (being directors of Gfinity) and Euroblue Investments Limited (a substantial shareholder) are participating in the Placing, their participation in the Placing is considered to be a related party transaction as described in the AIM Rules. The Directors (with the exception of those Directors participating in the Placing), who have consulted with Arden in its capacity as Nominated Adviser to the Company, consider the Placing to be fair and reasonable insofar as Shareholders are concerned.
Admission and total voting rights
Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the Placing Shares on AIM will commence on 9 November 2015.
The Placing is conditional, among other things, upon admission becoming effective.
Following Admission, the total number of Ordinary Shares in issue is 83,108,307 and the total number of voting rights is 83,108,307. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
All terms in this announcement have the meanings given to them in the announcement made by the Company at 8:05 a.m. on 2 November 2015 unless otherwise defined herein.
Neville Upton, Chief Executive Officer of Gfinity, said: "We see the current environment of eSports as one of significant opportunity and our progress post IPO has secured a strong foundation for ambitious growth. We are very pleased to have secured further funding from our institutional shareholders in anticipation of delivering on the key steps announced earlier today, which will continue our progress towards becoming one of the leading eSports promotion companies."
Enquiries:
Gfinity plc |
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Jonathan Hall, Finance Director Neville Upton, Chief Executive Officer |
+44 330 223 0860 |
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Arden Partners plc - Nominated Adviser and Broker |
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Chris Hardie, Ciaran Walsh |
+44 20 7614 5900 |
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Luther Pendragon - PR adviser to Gfinity |
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Harry Chathli, Alexis Gore, Oliver Hibberd |
+44 20 7618 9100 |
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