18 Oct 2019 17:10
18 October 2019
NEKTAN PLC
("Nektan", the "Company" or the "Group")
Placing Update
Further to the Company's announcements of 18 and 25 September 2019 and 2 and 9 October 2019, the Board of Nektan plc (AIM: NKTN), the fast-growing international gaming technology platform and services provider, announces that certain of the expressions of interest received from investors to meet its proposed minimum fund raise target of £3.0 million (net of expenses) were on terms unacceptable to the Board following a period of negotiation, and have therefore been excluded from the placing. The Company remains in discussions with other investors to raise £3.0 million (net of expenses).
The Company, therefore, announces an extension to the Proposed Placing, which will now remain open for orders to be submitted until 5.00p.m. on 24 October 2019, however, the Board reserves the right to close the Proposed Placing earlier if sufficient funds have been raised. An announcement of the result of the Proposed Placing will be made shortly thereafter.
A further announcement will be made in due course.
For further information on the Group, please contact:
Nektan Jim Wilkinson, Non-executive Chairman Gary Shaw, Executive Director and Interim CEO | +44 203 478 2648
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Shore Capital (Nominated Adviser, Joint Broker and Joint Bookrunner) Tom Griffiths / David Coaten | +44 20 7408 4050 |
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Whitman Howard (Joint Bookrunner) Nick Lovering | +44 20 7659 1234 |
Further information on Nektan can be found on the Group's website at www.nektan.com.
About Nektan:
Nektan is a fast growing, international gaming technology and services provider, specialising in mobile casino. It licenses its proprietary technology to leading operators, including BetVictor, and provides end-to-end technology and white label casino services for leading brands, including News International's The Sun Play.
Nektan's full end-to-end technology platform, Evolve, enables the management of the full customer experience and back-office operations, allowing partners to focus on marketing the product to their consumers.
The E-Lite platform is Nektan's B2B gaming content aggregator and bonusing platform that delivers a wide range of premium content from the world's leading game studios. It is an easily-integrated add on module for operators, giving them an array of options and flexibility on how they manage and distribute a breadth of premium gaming content across their networks.
Nektan has a material stake in US-based interactive gaming operator Rapid Games, which provides US land-based casinos with an in-venue mobile gaming solution. It allows operators to add mobile technology and content making products accessible to players across both cabinets and mobile devices inside casinos.
Headquartered in Gibraltar, Nektan is regulated by the Gibraltar Licensing Authority, the UK Gambling Commission and the Information Commissioners Office. As a socially responsible license holder, Nektan endeavours to deliver a safe, secure and robust player gaming experience.
Nektan plc was admitted to the AIM market of the London Stock Exchange in November 2014.