2 Sep 2014 07:00
2 September 2014
BOXHILL TECHNOLOGIES PLC
("Boxhill", the "Group" or the "Company")
Boxhill Technology PLC subsidiary launches new cash solution for live Casinos,
Issue of Equity and Notification of Shareholdings.
The Company is delighted to announce that the first Casino Cash machines operated by its wholly owned subsidiary, Pay Corporation Limited ("PayCorp"), have been installed and are operational after successful testing at London's iconic Hippodrome Casino. Additional contracts have been signed with the next machine to be installed at the new Hilton Park Lane Casino, eight further sites have been agreed subject to contract covering many of London's most prestigious casinos.
Phil Jackson of Boxhill PLC commented, "Unless they carry large amounts of cash, casino visitors are often limited to the maximum daily withdrawal limit set by their card issuer. The ATM itself may also have an additional cash withdrawal limit per transaction. For many players this restricts them from obtaining the larger amounts they wish to play for - there is a significant group of casino visitors who want to stake amounts in excess of £500 and do not have arrangements with casinos - Casino Cash allows those players to access larger amounts of money at the casino."
Casinos are keen to host the machines as a service to their customers and PayCorp has sites planned for another eight machines in London and is surveying sites across the country over the coming two quarters. More information about the service is available at www.casino-cash.co.uk.
There is a significant need for accessing cash on casino premises, with some sites expected to distribute over £10,000,000 annually, the company believes that this service will become an important contributor to the Group as it continues to work with a diverse range of customers. Not only does Casino Cash deliver a valuable service to casino customers, it also captures data on those players who will spend between £1,000 and £100,000 per visit and can work with the casinos to enhance the player experiencefor this important group of customers.
Simon Thomas, CEO and Chairman of The Hippodrome, said "We have worked very closely with the Casino Cash team to help develop a system that, in line with our philosophy, keeps the customer's needs at the centre of their thinking and we are pleased with the customer response. They find the cash advance facility intuitive to use. The Hippodrome is a stunning venue and we like to ensure that all services available on site meet our exacting standards. I believe that Casino Cash will do just that - and it's a great addition to the venue."
Issue of Equity
The Company has received a conversion notice for the remaining £46,875 of the £250,000 loan announced on 13 September 2013 (the "Loan"), which will result in the issue of 28,846,154 new ordinary shares of 0.1p in the Company ("Ordinary Shares") at an issue price of 0.1625 pence per Ordinary Share. An application has been made for the admission of the 28,846,154 new Ordinary Shares to trading on AIM with effect from 5 September 2014.
Please note there was an error in the announcement of 14 July 2014 relating to the Loan. £203,125 of the Loan, not £206,250 was converted through the issue of the 125,000,000 Ordinary Shares at the conversion price of 0.1625p per Ordinary Share.
Change in Substantial Shareholdings
The Company announces that on 29 August 2014 it was informed that Neil Graham Barden no longer has an interest in SmartePay Limited ("SmartePay"), which holds 292,405,798 Ordinary Shares. SmartePay is now owned by Andrew Presley, Paul Aspden and William Jones. Mr Barden no longer has any notifiable interest in the Ordinary Shares of the Company.
The Company was also informed on 29 August 2014 that John Botros had transferred the ownership in his entire holding of 48,236,391 Ordinary Shares to his wife, Jadine Margaret Malone.
Total Voting Rights
The Company will now have a total of 1,455,829,770 Ordinary Shares in issue (the "Enlarged Share Capital"). The Company holds no Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares with voting rights is 1,455,829,770. 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.
Following the above transfers and share issue, the disclosed shareholdings in the Company will be as follows:
Shareholder | Number of Ordinary Shares Held | Percentage of Enlarged Share Capital Held | |
SmartePay | 292,405,798 | 20.09% | |
James Rose | 236,656,580 | 16.26% | |
Viltek Limited | 120,000,000 | 8.24% | |
Tim Razzall | 80,965,986 | 5.56% | * |
Jadine Malone | 48,236,391 | 3.31% | |
Andrew Flitcroft | 25,674,408 | 1.76% | * |
* Directors
Further updates will be announced as appropriate.
For further information contact:
Boxhill Technologies PLC 020 3021 1944
Philip Jackson, CEO
Website www.boxhillplc.com
Allenby Capital Limited (Nomad & Broker)
Nick Harriss/Nick Athanas/James Reeve 020 3328 5656
Notes to editors:
Boxhill Technologies Plc (AIM:BOX), is an AIM quoted lottery, software, gaming and leisure company.
Boxhill has a range of ecommerce products that suit all merchants' and customers' needs enabling secure payments. The Company works within both regulated frameworks and in regions where traditional partners struggle to offer safe, secure services.
In addition, Boxhill operates the Weather Lottery, which has been in operation since 2002 and the Company holds a coveted UK external lottery managers licence. Over £5 million has been raised to date for good causes and paid over four million prizes to winners.
About The Hippodrome
London's The Hippodrome is a superb entertainment complex offering three floors of gaming, Pokerstars LIVE, five bars, cabaret and a restaurant. In its first year of operation served over two million customers and won Casino of the Year.