Gfinity PLC Issue of equity - deferred consideration to CEVO (0157B)
September 17 2018 - 9:31AM
UK Regulatory
TIDMGFIN
RNS Number : 0157B
Gfinity PLC
17 September 2018
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR). With
the publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
Gfinity plc
("Gfinity" or the "Company")
Issue of equity - deferred consideration payable to CEVO,
Inc.
Gfinity plc (AIM: GFIN), a world-leading esports solutions
provider, announces that in line with the terms of the acquisition
of CEVO, Inc. ("CEVO") in July 2017 for a total consideration of
$2.7 million payable in cash and shares, the Company has agreed to
pay the deferred consideration owed to the vendors of CEVO as a
result of CEVO achieving certain revenue targets in 2017.
The deferred consideration owed to CEVO amounts to $418,800 in
cash and the issue of 1,548,877 ordinary shares in the Company
("Deferred Consideration Shares") at a price of 19.63p per
share.
Application will be made to London Stock Exchange for the
deferred Consideration Shares to be admitted to trading on AIM and
such admission is expected to occur on 21 September 2018
("Admission").
Total Voting Rights
On Admission, the Company will have 287,897,087 Ordinary Shares
in issue, each with one voting right. There are no shares held in
treasury. Therefore, the Company's total number of ordinary shares
and voting rights will be 287,897,087.
The above figure of 287,897,087 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 Company under the FCA's
Disclosure Guidance and Transparency Rules.
Enquiries:
Gfinity plc www.gfinityplc.com
Garry Cook, Executive Chairman Via Walbrook PR
Allenby Capital Limited - AIM Nominated Tel: +44 20 3328 5656
Adviser and Joint Broker
Jeremy Porter / John Depasquale
Shore Capital - Joint Broker Tel: +44 (0) 20 7408
4090
Patrick Castle
Walbrook PR (Media & Investor Relations) Tel: +44 (0)20 7933 8780
Paul Cornelius / Sam Allen or gfinity@walbrookpr.com
About Gfinity
Gfinity (LON: GFIN) is a world-leading esports solutions
provider. Its business to business platform, "Powered by Gfinity",
delivers managed services to game publishers, sports rights
holders, commercial partners and media companies. Gfinity creates
bespoke solutions, including competitions and industry leading
content production, connecting its partners with the esports
community in authentic and innovative ways. Partnerships include EA
SPORTS, F1 Esports Series, Halo World Championship and the Forza
Racing Championship.
Gfinity connects directly with competitive gaming consumers
through its owned competition platform, the "Gfinity Elite Series".
The Series enables competitive gamers to be part of the Gfinity
community, testing themselves and developing new skills, while
providing a pathway for those who aspire to a career in esports to
join a leading professional team. "Gfinity Elite Series" content is
distributed through linear and digital channels and is enjoyed by
tens of millions of esports fans around the world.
All Gfinity managed service solutions and owned competitions are
underpinned by its proprietary technology platform delivering a
level playing field for all competitors and supporting scalable
multi-format leagues, ladders and knock out competitions.
More information about Gfinity is available at
www.gfinityplc.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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