25 Jan 2017 07:00
Fitbug Holdings Plc / Epic: FITB.L / Index: AIM / Sector: Leisure
RNS announcement:
25 January 2017
FITBUG HOLDINGS PLC ('FITBUG' OR 'THE COMPANY')
Completion of placing
Fitbug Holdings Plc, the AIM quoted digital wellness technology provider for corporate organisations, is pleased to announce that it has successfully completed, subject only to Admission, a cash placing to raise £1,000,000 (before costs) from the issue of 500,000,000 new ordinary shares of 0.1p each ("New Ordinary Shares") at a subscription price of 0.2 pence per share (the "Placing").
Application will be made to admit the New Ordinary Shares to trading on AIM. Admission is expected to take place on 2 February 2017.
The Company intends to use the funds raised from the Placing for general corporate purposes.
Following Admission the total issued share capital of the Company will consist of 1,731,366,968 ordinary shares. As such the total number of voting rights in the Company will be 1,731,366,968 ordinary shares. This number 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 FCA's Disclosure and Transparency Rules.
Fitbug CEO Anna Gudmundson said: "We are pleased to have raised these additional funds at this time. We have made good progress with the development and sales of our digital wellness programmes in pursuit of our service based strategy to focus on corporate wellness. We believe that our prospects for 2017 are positive and we are now looking for opportunities to accelerate our growth strategy."
The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
**ENDS**
For further information visit www.fitbugholdings.com
Contact:
Anna Gudmundson / Donald Stewart
| Fitbug Holdings Plc | 020 7449 4949 |
Mark Brady / Neil Baldwin
| SPARK Advisory Partners Limited (Nominated Advisor)
| 020 3368 3551 |
Claire Louise Noyce / William Lynne / Niall Pearson
| Hybridan LLP, Broker | 020 3764 2341 |
Stephanie Forrest | T/F/D, Public Relations | 07917 695755 |
Notes
About Fitbug®
Fitbug provides digital wellness solutions that empower employers to create a positive culture of health within their organisation. By helping employees to embrace a healthier way of living, Fitbug can help maximise performance, reduce absenteeism, decrease the risk of chronic illness, and lower healthcare costs.
The Company's technological edge allows it to address holistic wellness by engaging both individuals and teams through intelligent, personalised interaction and gamification. This is an opportunity to make incremental behavioural changes that will last a lifetime. The progress of individuals translates to actionable data, meaningful reporting and insights that allow the organisation to monitor the impact of the programme and to refine it in order to achieve success.
Fitbug's shares are quoted on the London Stock Exchange AIM market under ticker FITB.