ASLR.L Regulatory News (ASLR)

YOLO Leisure and Technology plc

 ("YOLO" or the "Company")

Placing

YOLO is pleased to announce the placing ("Placing") of 11,562,500 new ordinary shares of 0.01p each ("Placing Shares") with existing investors to raise £1,850,000 (before expenses) at an issue price of 16.0p per share ("Placing Price"), a premium of approximately 6.5% above yesterday's closing bid price. As part of the Placing, each placee will also receive one warrant for every Placing Share subscribed for, exercisable at 30.0p per share ("Warrants") at any time from the date of issue up to 31 March 2021.

The Placing is conditional, inter alia, on resolutions 4 (directors' authority to allot shares) and 5 (directors' power to disapply pre-emption rights) contained in the Notice of General Meeting published by the Company on 3 December 2019 being passed at the General Meeting of the Company convened for 11.00 a.m. on 23 December 2019 or at any adjournment of that meeting.

The Placing Shares are expected to be admitted to trading on AIM on or around 20 January 2020.

The net proceeds of the Placing will be used to pursue the Company's investing policy of focusing on technology opportunities in the fields of big data, machine learning, telematics and the internet of things. The Company is currently actively considering a number of potential investment opportunities.

Introducer Warrants

In addition to the Warrants to be issued to placees, the Company has agreed to issue 5,000,000 warrants on completion of the Placing at 18.0p per share to be exercised by 30 September 2020 and, conditional on the exercise of these warrants, a further 5,000,000 warrants at 30.0p per share exercisable by 31 March 2021 to Chris Akers in lieu of a cash fee in relation to the Placing.

Total Voting Rights

It is expected that Tranche 2 of the placing announced by the Company on 2 October 2019, comprising the issue of 10,000,000 new ordinary shares along with a further 5,000,000 warrants exercisable at 6.0p per share, will be completed prior to the year end.

The Placing Shares will rank pari passu with the existing ordinary shares in YOLO in all respects. Following the admission of the 11,562,500 Placing Shares on or around 20 January 2020 and the issue of the 10,000,000 Tranche 2 ordinary shares, the total issued share capital of the Company will be 93,694,776 ordinary shares, each with voting rights. The Company does not hold any ordinary shares in treasury. The above 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 Company, under the Disclosure and Transparency Rules.

John Taylor said "We are delighted that we have been able to conduct this placing at a small premium to our closing bid price on 17 December 2019. The Board is focused on delivering on its investing policy and this placing provides it with the resources to execute on that policy quickly."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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