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Placing of New Ordinary Shares and Board Change

Thu, 16th Mar 2017 07:44

RNS Number : 6457Z
PCG Entertainment plc
16 March 2017

16 March 2017

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

PCG Entertainment Plc

("PCGE", the "Company" or the "Group")

PCG Entertainment Plc / Index: AIM / Epic: PCGE

Placing of New Ordinary Shares and Board Change

PCG Entertainment Plc (AIM: PCGE), the AIM quoted Asia-Pacific online gaming and media company, has today raised £350,000 (before expenses) through a placing via its broker, Beaufort Securities Limited, of 250,000,000 new ordinary shares of 0.1 pence each ("Ordinary Shares") and a price of 0.14 pence per Ordinary Share (the "Placing"). The proceeds of the Placing will be used for general working capital purposes. The Placing has been undertaken within the Company's existing share authorities and is conditional only on admission of the new Ordinary Shares to trading on AIM ("Admission").

Application has been made for Admission, which is expected to occur on or around 30 March 2017.

Following Admission, the Company's issued share capital will consist of 2,124,940,507 Ordinary Shares, with one voting right per share. PCGE does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 2,124,940,507. This figure 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 to their interest in, the share capital of the Company.

On 15 March 2017 the Company served notice of termination on Electric Warrior Limited, which is the consultancy company providing Nick Bryant's services to the Company. Under a power of attorney granted under the consultancy agreement the Company can remove Mr Bryant as a director of any group companies.

For more information on PCGE please visit the Company's website www.pcge.com.


PCG Entertainment PLC

Richard Poulden, Chairman

Tel: +44 207 812 0645

Allenby Capital Limited

Nick Harris

Tel: +44 20 3328 5656

Beaufort Securities Limited

Elliot Hance

Tel: +44 20 7382 8300

Damson Communications

Abigail Stuart-Menteth/Amelia Hubert

Tel: +44 20 7812 0645

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

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