24 May 2018 17:34
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN.
LONDON STOCK EXCHANGE (LSE): GAN | IRISH STOCK EXCHANGE (ISE): GAME
Repayment of Convertible Unsecured Loan Notes
London & Dublin | May 24, 2018: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States, has provided one month's notice that the Company has elected to repay and redeem in full the £2,001,483 9% Convertible Unsecured Loan Notes 2022 issued by GAN in April 2017. Such notice of repayment is subject to withdrawal by the Company should the Subscription as announced on May 21, 2018 not be approved by shareholders on June 7, 2018.
Following the full re-payment and redemption of the Convertible Unsecured Loan Notes the Company will be debt free effective from June 25, 2018.
For further information please contact:
GAN | The Equity Group |
Dermot Smurfit | Adam Prior |
Chief Executive Officer | aprior@equityny.com |
+44 (0) 20 7292 6262 | +1 212.371.8660 |
dsmurfit@GAN.com |
|
Davy (Nominated Adviser and ESM Adviser) John Frain / Barry Murphy +353 1 679 6363 |
Walbrook PR Paul Cornelius GAN@WalbrookPR.com +44 20 7933 8780 |
GAN | Overview
GAN is a leading B2B supplier of Internet gaming enterprise software-as-a-service solutions to the US land-based casino Industry. GAN is listed on the ESM, the market of the Irish Stock Exchange (Euronext Dublin), under the ticker: GAME, and AIM ,the market of the London Stock Exchange, under the ticker: GAN.
The Company has developed an Internet gaming enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for both regulated real-money and/or virtual Simulated Gaming. GAN has fourteen (14) casino operators as clients of Simulated Gaming coast-to-coast across the US and Internationally; two (2) clients of real money Regulated Gaming in New Jersey; one (1) client of real money Regulated Gaming in Pennsylvania and ten (10) clients of real money Regulated Gaming in Europe.
The Internet Gaming System, developed in London under a UK Gambling Commission license, is certified to the highest technical standards currently required by gaming regulators. In January 2018 GAN announced a strategic partnership with SBTECH, a leading European B2B sports betting technology provider. In April 2017 GAN was granted a Casino Service Industry Enterprise license by the New Jersey Division of Gaming Enforcement being GAN's first privileged gaming license in the United States. In May 2018, the US Supreme Court repealed PASPA and GAN confirmed the H2 launch of sports betting for US clients integrated into GAN's enterprise software platform.
This Announcement should be read in its entirety. In particular, investors should read and understand the information provided in the "Important Notices" section of this Announcement.
For more information please visit www.GAN.com
Important Notices
Davy, which is authorised and regulated in Ireland by the Central Bank of Ireland, is acting as Nominated Adviser and ESM adviser to the Company in connection with the matters described in this announcement. Davy is acting exclusively for the Company in connection with arrangements described in this announcement and is not acting for any other person and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Davy or for advising any other person on the arrangements described in this announcement. Davy has not authorised the contents of, or any part of, this announcement and no liability whatsoever is accepted by Davy for the accuracy of any information or opinion contained in this announcement or for the omission of any information.
This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale in the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
This announcement and the information contained herein is restricted and is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into Australia, Canada or Japan or any other jurisdiction into which the publication or distribution would be unlawful.
This announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Davy, The Equity Group or Walbrook PR or by any of their affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
End.