BIDS.L Regulatory News (BIDS)

Fitbug Holdings Plc / Epic: FITB.L / Index: AIM / Sector: Leisure

23 December 2015

FITBUG HOLDINGS PLC ('FITBUG' OR 'THE COMPANY')

FURTHER WORKING CAPITAL RAISE

Fitbug Holdings Plc, the AIM quoted provider of online personal health and wellbeing services, is pleased to announce that it has raised a total of £650,000 by way of a further loan from NW1 Investments. The new loan is repayable by 31 July 2017, in line with the Group's other loans from NW1 and will accrue interest at a rate of 2.5% per annum above the base lending rate of the Bank of England from time to time payable quarterly in arrears. The Company intends to use the funds for near term working capital purposes, in particular for the growth of the recently launched Kiqplan Version 2.

Chief Executive Anna Gudmundson said: "NW1 advanced these further funds as they are pleased with the progress which the Group has made since the fundraising in August 2015. The Group has recruited some very talented people and has launched Version 2 of Kiqplan in line with the Board's expectations and laying the foundations on which to build our digital business. I am looking forward to growing our digital business significantly in 2016."

**ENDS**

For further information visit www.kiqplan.com or www.fitbugholdings.com contact:

Notes

About Fitbug®

Fitbug is a leading provider of online health and well-being services to help individuals to improve their lifestyles by making realistic changes to their daily routine. It combines activity tracking devices, which download to the Fitbug app and fitbug.com to provide an understanding of each user's daily activity achievements, with mobile and web technology which provides users with personalised weekly activity and nutrition targets, feedback, advice and encouragement.

Its "Kiqplan"TM digital health coaching platform is designed to make wearable technology relevant to new audiences and take the "so what?" out of activity tracking by providing structured action plans to help people get fitter, lighter and lead happier, healthier lives.

Key market sectors and distribution channels include retail, health insurance and rewards providers, workplace health programmes, fitness operators and consumers. An important part of the Company's focus is on building strategic partnerships with organisations which can integrate Fitbug or Kiqplan into their own service/product offerings or resell to their customer base. The Company has operations in the UK and United States. For more information, visit www.fitbug.com and www.kiqplan.com.