Last checked at 1 Feb 2018 07:00
1 February 2018
Veltyco Group plc
("Veltyco", the "Company" and, together with its subsidiaries, the "Group")
Potential acquisition of licenced sportsbook operation
Veltyco Group plc (AIM:VLTY), the online marketing company for the gaming industry, is pleased to announce that it has entered into an exclusivity agreement to potentially acquire the entire issued share capital of Ruleo Alpenland GmbH ("Ruleo"), a company that operates a sportsbook brand called BTTY, through the web-based site www.btty.com and apps on iOS and Android operating systems.
It is currently envisaged that Veltyco will acquire Ruleo along with the domain and brand names and the associated software for operating the BTTY sportsbook for a total consideration of EUR6.5 million, to be satisfied through a mixture of cash and shares and will likely include a deferred element. The proposed acquisition is subject to, inter alia, completion of due diligence by Veltyco and formal documentation on or before the expiry of the exclusivity period on 15 March 2018.
Using proprietary technology for the front and back end of the operations, BTTY currently has a gambling licence in Schleswig-Holstein in Germany and an official bookmaker licence in Austria. The Board of Veltyco ("Board") believes that the proposed acquisition, if concluded, represents an exciting opportunity for Veltyco to grow BTTY, both in Germany and Austria and in to new territories, by using Veltyco's expertise in online marketing, in conjunction with its experience in the online gaming industry. Furthermore, Ruleo operates certain active marketing agreements which will provide further opportunities for Veltyco's existing business.
There is no guarantee that the proposed acquisition of Ruleo will be completed or that the proposed terms of the acquisition will not be amended. The Board will provide further updates as appropriate.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information, please contact:
Veltyco Group plc +44 (0)1624 605 764
Gilles Ohana, Non-executive Director
Marcel Noordeloos, CFO
Strand Hanson Limited (Nominated Adviser) +44 (0)20 7409 3494
James Harris
Richard Tulloch
James Dance
Whitman Howard Ltd (Broker) +44 (0)20 7659 1234
Francis North - Corporate Broking
Nick Lovering - Corporate Broking
IFC Advisory (Financial PR) +44 (0)20 3053 8671
Graham Herring
Tim Metcalfe
Miles Nolan
About Veltyco
Veltyco is a group of companies primarily focused on generating marketing leads and entering into marketing contracts for the activities of various partners in the gaming industry. Veltyco focuses on complementary activities under one umbrella, leveraging its historical cash generative activities of marketing online casinos and sports betting.
Website: www.veltyco.com