Last checked at 19 Feb 2014 09:21
24/7 Gaming Group Holdings Plc
(the "Company" or "24/7 Gaming")
Further issue of equity and director deals
Further to the announcement issued this morning in relation to an equity placing and conversion of certain outstanding debts into equity, 24/7 Gaming is pleased to announce that it has accepted the offer from Willy Simon, a Non-Executive Director of the Company, and David Mathewson, Executive Chairman, to convert outstanding fees owed to them into new ordinary shares of no par value ("Ordinary Shares") at 5p per Ordinary Share.
As a result, Mr Simon and Mr Mathewson will each receive 491,500 new Ordinary Shares to be issued in lieu of outstanding fees.
As a result of this issue of shares, Mr Simon will hold 1,042,340 Ordinary Shares and Mr Mathewson will hold 658,170 Ordinary Shares.
In addition, Mr Mathewson has been awarded options over 6 million Ordinary Shares exercisable at a price of 3p per Ordinary Share. These options will vest as to 2 million options after each anniversary from today over a three year period and will remain exercisable for a period of 12 months after vesting.
Total voting rights
The new Ordinary Shares will rank pari passu with all existing Ordinary Shares and application has been made for the 983,000 new Ordinary Shares to be admitted to trading on AIM which is expected to take effect on or around 25 February 2014 ("Admission").
Following Admission the Company's issued share capital will comprise 166,941,488 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure 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 share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.
For further information please contact:
|
About 24/7 Gaming
24/7 Gaming Group Holdings Plc specialises in providing gaming entertainment on various platforms. The group's approach is to provide players with a personal and direct experience. This interaction with players is realised by applying a combination of new technologies. Technology is also the driver in the Group's efficiency in attracting new players and pursuing player satisfaction.