11 Mar 2016 12:18
11 March 2016
Nektan plc
("Nektan", the "Company" or the "Group")
Director's dealing
Further to the announcement on 7 March 2016 of the proposed fundraising by the Company, the Board of Nektan plc (AIM: NKTN.L), a leading international B2B mobile gaming content developer and platform provider, announces that Gary Shaw, acting Chief Executive Officer, has today completed the subscription for 143,540 convertible loan notes ("CLN") at £2.09 per CLN together with 300,000 warrants with an exercise price of 81.75 pence.
The CLNs convert at 125% of the price of the last issuance of ordinary shares. At the date of this announcement, the CLNs convert into 165,745 ordinary shares.
As set out in the announcement, these CLNs and warrants are being issued under the Company's existing authorities and are not subject to the approval of the resolutions at the extraordinary general meeting ("EGM"). The terms of the CLNs and the warrants are set out in more detail in the circular sent to shareholders in relation to the EGM which is available on the Nektan website http://www.nektan.com/investor-relations/aim-rule-26/
For further information on the Group, please contact:
Nektan Gary Shaw | via Newgate below |
Zeus Capital Limited (Nominated Adviser & Broker) Nicholas How (Corporate Finance) Adam Pollock (Corporate Broking) |
Tel: +44 (0)20 3829 5577 |
Newgate (PR Adviser) James Benjamin Alex Shilov Lydia Thompson |
Tel: +44 (0)20 7680 6550 Em: nektan@newgatecomms.com |
Further information on Nektan can be found on the Company's website at www.nektan.com
About Nektan:
Nektan is a leading international B2B mobile gaming content developer and platform provider. The Group designs, builds and operates mobile games in the regulated, interactive real money gaming ("RMG") and freemium gaming space, delivering original and innovative content to large commercial organisations that have established online audiences.
Nektan's full end-to-end technology platform, Evolve, simplifies and supports the route to mobile and desktop gaming revenues, managing the full customer experience and back-office operations, allowing commercial partners to focus solely on marketing the product to their consumers.
Nektan also operates a joint venture, Respin LLC, with Spin Games LLC that provides US land-based casinos with in-venue mobile technology and an innovative way of increasing revenue from end-of-life cabinets whilst providing players new and innovative content to play, which includes functionality on mobile devices.
Nektan is regulated by the Gibraltar Licensing Authority and the UK Gambling Commission, as well as in the Irish market, and has offices in Gibraltar, London and Las Vegas with Respin based in Reno, Nevada.