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Subscription

29 Jul 2016 16:33

RNS Number : 7376F
Gaming Realms PLC
29 July 2016
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Gaming Realms Plc

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("Gaming Realms", the "Company" or the "Group")

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Subscription to raise Β£2,500,000

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Gaming Realms,Β the creator and publisher of mobile real money and social games, is pleased to announce that it has conditionally raised approximately Β£2,500,000 before expenses, through a subscription of 12,500,000 new ordinary shares of 10 pence each with a number of investors ("Subscription Shares") at a price of 20 pence per share (the "Subscription Price") ("the Subscription").Β The Subscription will represent 4.56% of the Company's enlarged share capital.

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The net proceeds of the Subscription will be used in part payment of the first deferred consideration due to RealNetworks Inc. ("RealNetworks") of $4,000,000, following the Group's acquisition of various assets from RealNetworks on 10 August 2015, with the balance being paid from the Company's existing cash resources.

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Applications for admission of the Subscription Shares will be made to AIM. It is expected that admission of 10,750,000 Subscription Shares, which have today been allotted, will become effective on or around 4 August 2016 ("First Admission"). Application for admission the remaining 1,750,000 Subscription Shares will be made in due course, once these shares have been allotted, and admission of these shares is expected to become effective by no later than 31 August 2016 ("Second Admission"). A further announcement will be made in due course with respect to Second Admission.

The Subscription Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission, and will otherwise rank on Admission pari-passu in all respectsΒ with the Existing Ordinary Shares. The Subscription Shares are not, and will not, be offered or sold in any jurisdiction where it would be unlawful to do so.

Total Voting Rights

Following First Admission, Gaming Realms' total shares in issue will be 272,383,292 ordinary shares of 10 pence each. Gaming Realms holds no ordinary shares in Treasury. The above figure 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, Gaming Realms under the AIM Disclosure and Transparency Rules.

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This announcement contains inside information.

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Contacts:

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Gaming Realms

Patrick Southon, CEO

Mark Segal, FD

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Β 0845 123 3773

Cenkos Securities (Nomad and Broker)

Max Hartley (Nomad)

Julian Morse (Broker)

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+44 (0) 20 7397 8900

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Yellow Jersey PR

Charles Goodwin

Aidan Stanley

+44 (0) 7747 788 221

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About Gaming Realms

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Gaming Realms creates and publishes innovative real money and social games for mobile, with operations in the UK and U.S. Through its market leading mobile platform and unique IP and brands, Gaming Realms is bringing together media, entertainment and gaming assets in new game formats. The Gaming Realms management team includes accomplished entrepreneurs and growth executives from a wide range of leading gaming and media companies.

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This information is provided by RNS
The company news service from the London Stock Exchange
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END
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