23 Dec 2015 07:00
23 December 2015
Nektan plc
("Nektan", the "Company" or the "Group")
Fundraising of £1.36 million via Issue of Equity
Nektan plc (AIM: NKTN), a leading international B2B mobile gaming content developer and platform provider, announces that, further to its announcement of 6 October, it has raised an additional £1.36 million through the placing of 937,929 new ordinary shares of £0.01 each ("Ordinary Shares") at 145 pence per Ordinary Share (together the "Fundraising").
The Company has today allotted and issued the placing shares, credited as fully paid and being identical to and ranking pari passu in all respects with the existing Ordinary Shares. Accordingly, an application has been made for admission of the new Ordinary Shares to trading on AIM ("Admission"), and it is expected that such Admission will become effective and that dealings will commence on AIM at 8.00 a.m. UK (BST) time on 30 December 2015.
The net proceeds from the Fundraising will be primarily used to focus on driving further expansion in the US tribal and commercial casino market through the Group's US joint venture, Respin, as well as supporting the Company's working capital requirements.
Following Admission, the Company's enlarged issued ordinary share capital will comprise 23,744,564 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure of 23,744,564 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Gary Shaw, Executive Chairman of Nektan, said:
"Our US joint venture continues to make significant progress with tribal and commercial casino operators, helping to strengthen our first mover advantage. Our first product, Xtraspin, a mobile enabled bonus wheel, is continuing to deliver improved revenues in-venue and is now live in California, Oregon, Nevada and Louisiana. Rapid Games, our in-venue mobile games platform, will allow players to play casino real money games on their own devices in casinos and will launch in the first quarter of 2016. We are particularly pleased that Apple has now approved the "Rapid Games App" for launch, meaning that casino customers who are Apple mobile users will be able to easily download the App from Apple's App store and, in a fully compliant way, play real money games for the first time in-venue.
The net proceeds of the Fundraising will be principally used to support the delivery of our mobile enabled products and services into the land-based casino market as more and larger operators in the US contract for our innovative gaming solutions."
For further information on the Group, please contact:
Nektan David Gosen, Chief Executive Officer | 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.