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Readmission and First Day of Dealings

30 Jun 2016 07:00

RNS Number : 6937C
Veltyco Group PLC
30 June 2016
 

30 June 2016

 

Veltyco Group PLC

("Veltyco" or "the Group")

 

Readmission and First Day of Dealings

 

Veltyco Group plc (AIM:VLTY), a profitable and cash generative marketing company for online gaming, lottery and binary option businesses, is pleased to announce the re-admission today of its ordinary shares to trading on the AIM Market of the London Stock Exchange and the commencement of dealings in its ordinary shares under the ticker VLTY.

 

Stockdale Securities is acting as Nominated Advisor and Broker to the company.

 

SUMMARY

 

· Change of name to Veltyco Group plc (formerly Velox3 plc)

· The Company raised £0.54 million before expenses by way of a Subscription of 2,152,172 Subscription shares at a price of 25 pence per Subscription Share.

· Following a consolidation of the share capital in which each holder of every 25 or more Existing Ordinary Shares will be entitled to receive one Ordinary Share, the Company will have, on re-admission, 56,059,269 ordinary shares in issue.

· The market capitalisation of Veltyco on Admission at the subscription price is £14 million.

· The net proceeds of the Subscription will be used to support the working capital needs of the Enlarged Group and to continue the Enlarged Group's marketing activities in gaming, lottery and binary options.

 

 

INVESTMENT HIGHLIGHTS

 

· The Group has acquired the entire issued share capital of Sheltyco Enterprises Group Limited (founded in 2011) which specialises in marketing and promotion activities in three fast growing markets:

o Online gaming (Betsafe - online casino and sports betting)

o Lottery (Lottopalace)

o Binary options (Option888)

· Profitable and cash generative since 2013.

· Following Admission, the Enlarged Group will also review potential acquisition opportunities which fit into the company's profile.

· The Directors intend to declare dividend payments as soon as it becomes commercially prudent to do so.

 

The company's admission document can be found at: www.veltyco.com

 

Capitalised terms used in this announcement but not defined have the same meaning as defined in the circular and admission document posted to shareholders on 9 June 2016.

 

Commenting on the announcement David Mathewson, Chairman, said:

"I am delighted that the acquisition of Sheltyco has been completed and the Board now looks forward to growing our exciting niche businesses and to developing new and additional revenue streams. The Board will also review potential acquisition opportunities which fit into the Group's profile as part of our overall strategy for growth."

 

 

For further information please contact:

 

Veltyco

+ 44 (0)16 2464 7979

David Mathewson, Chairman

Marcel Noordeloos, CFO

 

Stockdale Securities

+44 (0)20 7601 6100

Antonio Bossi

David Coaten

 

Newgate Communications

+44 (0)20 7653 9850

Adam Lloyd

Helena Bogle

 

 

 

About Veltyco

 

Veltyco is a holding company primarily focused on generating marketing leads and entering into marketing contracts for the activities of its partners in sports betting, casinos, poker games, lottery and binary options, such as Betsafe (online casino and sports betting), Lottopalace (lottery) and Option888 (binary options). Veltyco focuses on all of these three complementary activities under one umbrella, leveraging its historical cash generative activities of marketing online casinos and sports betting.

 

Incorporated in The British Virgin Islands in November 2011 under the name of Pollard Marketing Ltd and initially focussed on marketing activities in gaming and sports betting. The Group has been profitable since 2013 and began marketing its lottery and binary option operations in 2016.

 

Following Admission

 

The Directors consider the Admission to be an important step in the Group's development, that will enhance its profile and standing in its existing markets and will assist with the growth of its business into new markets. The proceeds from the Subscription will allow Veltyco to pursue its strategic objectives; including the further development of its marketing activities in gaming, lottery and binary options. In addition, broadening the Group's shareholder base through Admission gives the Group an increased capacity, if required, to raise further capital to support future opportunities.

 

 

 

 

 

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