COMPLETION OF SECOND TRANCHE PLACING
Nektan, an international B2B mobile gaming platform provider, is pleased to disclose that, as announced on 3 November 2014, Gary Shaw, Executive Chairman, has subscribed for 211,864 new ordinary shares of 1 penny each (“Placing Shares”) at a price of 236 pence per share (the “Placing Price”) (the “Second Tranche Placing”), raising £500,000 for the Company and completing the fundraising of £4.1 million via the Combined Placing. The proceeds of the Second Tranche Placing will be used to support the on-going development and expansion of the business, the Company’s ‘Evolve’ platform and mobile gaming channels.
Application has been made this morning to the London Stock Exchange for admission to trading on AIM of the Placing Shares (“Admission”), and it is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00 a.m. on or around 19 December 2014. The Placing Shares will, when issued, be credited as fully paid and rank on Admission pari passu in all respects with the existing ordinary shares of 1 penny each in the Company (“Ordinary Shares”). Completion of the Subscription is conditional on, inter alia, Admission.
Following the issue and allotment of the Placing Shares, the Company’s enlarged issued ordinary share capital will comprise 21,440,051 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure of 21,440,051 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
David Gosen, Chief Executive Officer
|Tel: Via Hudson Sandler
+44 (0)20 7796 4133
|Panmure Gordon (Nominated Adviser and Corporate Broker)
Andrew Godber / Atholl Tweedie / Duncan Monteith
|Tel: +44 (0)20 7886 2500
|Hudson Sandler (Financial PR)
Nick Lyon / Alex Brennan
|Tel: +44 (0)20 7796 4133
Nektan is an international B2B mobile gaming platform provider. It is a developer and operator of mobile games in the regulated, interactive RMG and freemium gaming space, delivering white label implementations to large commercial organisations that have established online audiences.
Formed in 2011, Nektan operates under a full Remote Gambling Licence issued by the Gibraltar Licensing Authority and maintains sales and customer support operations in its two primary geographical targets, Europe and North America, from offices in Gibraltar, London and Las Vegas.
The Group has developed a full end-to-end platform, Evolve, which is purely focussed on supporting mobile gaming. Nektan’s white label platform simplifies the route to mobile gaming revenues for its target commercial entities: managing the full customer experience and back-office operations, allowing the partner solely to focus on marketing the product to its consumers.