GAN PLC GAN Appoints B. Riley FBR to lead U.S. Listing (6587T)
November 18 2019 - 1:00AM
UK Regulatory
TIDMGAN
RNS Number : 6587T
GAN PLC
18 November 2019
LONDON STOCK EXCHANGE (LSE): GAN
GAN Appoints B. Riley FBR to lead U.S. Listing
London | November 18, 2019: GAN plc (LSE: GAN), an award-winning
developer and supplier of enterprise-level B2B Internet gambling
software, services and online gaming content ("GAN" or "the
Company"), has appointed B. Riley FBR, Inc. a subsidiary of B.
Riley Financial, Inc. (NASDAQ: RILY) as the Company's lead banking
adviser as part of the Company's planned reorganization and listing
on a recognized investment exchange in the United States.
This key appointment is made by the Company in pursuit of its
stated equity capital markets strategy of making GAN's equity
readily available to the U.S. investor community, to improve
liquidity and maximize shareholder value.
The Company's Board of Directors selected B. Riley FBR based on
its demonstrated capital markets track record working with emerging
U.S. public companies in the technology sector, including
Software-as-a-Service vendors. The Company's Board of Directors
believes B. Riley FBR is ideally suited to support the Company's
achievement of its U.S. listing objective.
The Company does not intend to disclose or comment further on
developments related to its U.S. listing unless and until the Board
of Directors of GAN has approved a specific transaction or has
otherwise determined that further disclosure is appropriate in
consultation with its legal and financial advisors. There can be no
assurance that the U.S. listing process will result in any
particular outcome. Shareholders are encouraged to read the
Company's London Stock Exchange AIM filings which are available
online at www.GAN.com and www.LondonStockExchange.com.
Dermot Smurfit, Chief Executive Officer of GAN commented:
"We are excited to appoint one of the leading financial advisory
firms in the United States to support GAN through the next few
months, with the shared objective of obtaining a U.S. listing as
soon as reasonably practical. This is the first visible evidence of
a process which is already substantially underway, and we look
forward to updating the market when appropriate and in line with
our continuing compliance obligations."
This press release is not an offer of securities for sale in the
United States, or in any other jurisdiction. Securities may not be
offered or sold in the United States absent registration or an
exemption from registration. Any public offering of securities to
be made in the United States will be made only by means of a
prospectus that will contain detailed information about the Company
and management as well as financial statements. The Company intends
to register an offering of securities in the United States, but no
terms have been established and no registration statement has been
filed to date.
About GAN
GAN plc is a leading B2B supplier of Internet gambling
enterprise software-as-a-service solutions to the land-based casino
Industry with additional operations throughout Europe.
The Company has developed an Internet gaming enterprise software
system, GameSTACK(TM), which it licenses principally to land-based
US casino operators as a turnkey technology solution for both
regulated real-money and/or virtual Simulated Gaming. GAN has
fourteen (14) casino operators as clients of Simulated Gaming
coast-to-coast across the US and Internationally; three (3) clients
of real money Regulated Gaming in New Jersey; two (2) client of
real money Regulated Gaming in Pennsylvania and ten (10) clients of
real money Regulated Gaming in Europe.
Simulated Gaming(TM) is now proven to drive increased visitation
on-property among high-value casino patrons. Simulated Gaming(TM)
enables land-based US casinos to increase their 'share of wallet'
among existing patrons as well as reactivate long-term lapsed
patrons to return on-property.
For more information please visit www.GAN.com
For further information please contact:
GAN The Equity Group
Jack Wielebinski Adam Prior
Head of Investor Relations aprior@equityny.com
jwielebinski@GAN.com +1 212 371 8660
+1 214 799 4660
Media Enquiries: Newgate Communications
Adam Lloyd
Giles Croot
GAN@Newgatecomms.com
+44 (0) 20 3757 6880
Davy (Nominated Adviser
and Joint Broker)
John Frain / Barry
Murphy
+353 (0) 679 6363
Liberum (Joint Broker)
Neil Patel / Cameron
Duncan
+44 (0) 20 3100 2000
This information is provided by RNS, the news service of the
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END
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