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Pin to quick picksB90 Holdings Regulatory News (B90)

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Acquisition of T4U Marketing Ltd

21 Jun 2022 07:02

RNS Number : 5549P
B90 Holdings PLC
21 June 2022
 

For release: 07.02, 21 June 2022

 

B90 Holdings plc

("B90" or the "Company")

 

Acquisition of T4U Marketing Ltd

 

 

B90 Holdings plc (AIM: B90), the online marketing and operating company for the gaming industry, announces that it has entered into an agreement to acquire, through a wholly owned subsidiary, the remaining 49% of T4U Marketing Ltd ("T4U"), which operates the website tippen4you.com (the "Acquisition"). B90 currently holds a 51% equity interest in T4U, acquired in April 2017, and therefore after completion of the Acquisition will hold a 100% interest in T4U.

 

Tippen4you.com is an established and fully operational website and a forum platform focused on the German market. It earns revenues by entering into affiliate agreements with operators who are active in the German market, one of the largest and most developed online gambling markets in Europe.

 

The consideration for the Acquisition will be satisfied by the issue of 500,000 new ordinary shares of no par value in the capital of the Company ("Ordinary Shares") (the "Consideration Shares"). Based on the closing mid-market price per Ordinary Share on 20 June 2022, being the latest practicable date prior to this announcement, the value of the Consideration Shares is £23,750. The Consideration Shares will rank pari passu in all respects with the existing Ordinary Shares in issue at the time such shares are issued. The vendor of T4U has agreed to a 12-month lock-in period in relation to the Consideration Shares, which limits it to disposing of a maximum of 50,000 Ordinary Shares per month.

 

Commenting on the Acquisition, Karim Peer, Executive Chairman, said:

 

"Tippen4you.com is currently a relatively small business, but it has substantial potential and it carries great strategic importance for us. The acquisition reinvigorates the affiliate side of our business and gives us a strong foothold in Germany, where our operating brands currently do not have a presence, enabling us to earn revenues from one of the largest European markets."

 

Admission

When issued, the Consideration Shares will rank pari passu with the existing Ordinary Shares and application is being made to the London Stock Exchange plc for admission of the Consideration Shares to trading on AIM ("Admission") which is expected to take effect at 8.00 a.m. on or around 27 June 2022.

 

Total voting rights

Following Admission, the Company's total issued share capital will consist of 265,072,258 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. On Admission, the abovementioned figure of 265,072,258 Ordinary Shares may be used by shareholders in the Company 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

 

-ends-

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

 

For further information please contact:

 

B90 Holdings plc +44 (0)1624 605 764

Karim Peer, Executive Chairman

Marcel Noordeloos, Chief Financial Officer

 

Strand Hanson Limited (Nominated Adviser) +44 (0)20 7409 3494

James Harris / Richard Johnson / Rob Patrick

 

Whitman Howard Ltd (Broker)

Nick Lovering

 

Belvedere (Financial PR & IR) +44 (0)20 3687 2754

John West / Llewellyn Angus

 

About B90 Holdings plc

B90 Holdings plc is a group of companies focused on the operation of its own online Sportsbook and Casino product as well as marketing activities for other online gaming companies.

 

Website: www.b90holdings.com

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