LONDON (Alliance News) - YOLO Leisure & Technology PLC on Wednesday said it has issued shares to Euroblue Investments Ltd to raise GBP576,000 via a discounted placing.
The company has issued 32 million shares at 1.8 pence per share to Euroblue, along with warrants to subscribe to a further 8 million shares at the same price.
Yolo shares were down 15% to 2.013 pence on the news, one of the worst performers in the AIM All-Share.
Following the deal, Euroblue holds a 23.3% stake in YOLO.
"We are delighted to welcome EuroBlue as an investor into the company and view it as a sign of the confidence in the management team's ability to deliver value for shareholders," said YOLO Chief Executive Officer Simon Robinson.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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