B90 Holdings PLC Acquisition of T4U Marketing Ltd (5549P)
June 21 2022 - 1:02AM
UK Regulatory
TIDMB90
RNS Number : 5549P
B90 Holdings PLC
21 June 2022
For release: 07.02, 21 June 2022
B90 Holdings plc
("B90" or the "Company")
Acquisition of T4U Marketing Ltd
B90 Holdings plc (AIM: B90), the online marketing and operating
company for the gaming industry, announces that it has entered into
an agreement to acquire, through a wholly owned subsidiary, the
remaining 49% of T4U Marketing Ltd ("T4U"), which operates the
website tippen4you.com (the "Acquisition"). B90 currently holds a
51% equity interest in T4U, acquired in April 2017, and therefore
after completion of the Acquisition will hold a 100% interest in
T4U.
Tippen4you.com is an established and fully operational website
and a forum platform focused on the German market. It earns
revenues by entering into affiliate agreements with operators who
are active in the German market, one of the largest and most
developed online gambling markets in Europe.
The consideration for the Acquisition will be satisfied by the
issue of 500,000 new ordinary shares of no par value in the capital
of the Company ("Ordinary Shares") (the "Consideration Shares").
Based on the closing mid-market price per Ordinary Share on 20 June
2022, being the latest practicable date prior to this announcement,
the value of the Consideration Shares is GBP23,750. The
Consideration Shares will rank pari passu in all respects with the
existing Ordinary Shares in issue at the time such shares are
issued. The vendor of T4U has agreed to a 12-month lock-in period
in relation to the Consideration Shares, which limits it to
disposing of a maximum of 50,000 Ordinary Shares per month.
Commenting on the Acquisition, Karim Peer, Executive Chairman,
said:
"Tippen4you.com is currently a relatively small business, but it
has substantial potential and it carries great strategic importance
for us. The acquisition reinvigorates the affiliate side of our
business and gives us a strong foothold in Germany, where our
operating brands currently do not have a presence, enabling us to
earn revenues from one of the largest European markets."
Admission
When issued, the Consideration Shares will rank pari passu with
the existing Ordinary Shares and application is being made to the
London Stock Exchange plc for admission of the Consideration Shares
to trading on AIM ("Admission") which is expected to take effect at
8.00 a.m. on or around 27 June 2022.
Total voting rights
Following Admission, the Company's total issued share capital
will consist of 265,072,258 Ordinary Shares with voting rights. The
Company does not hold any Ordinary Shares in treasury and
accordingly there are no voting rights in respect of any treasury
shares. On Admission, the abovementioned figure of 265,072,258
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 to their
interest in, the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.
-ends-
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended.
For further information please contact:
B90 Holdings plc +44 (0)1624 605 764
Karim Peer, Executive Chairman
Marcel Noordeloos, Chief Financial Officer
Strand Hanson Limited (Nominated Adviser) +44 (0)20 7409
3494
James Harris / Richard Johnson / Rob Patrick
Whitman Howard Ltd (Broker)
Nick Lovering
Belvedere (Financial PR & IR) +44 (0)20 3687 2754
John West / Llewellyn Angus
About B90 Holdings plc
B90 Holdings plc is a group of companies focused on the
operation of its own online Sportsbook and Casino product as well
as marketing activities for other online gaming companies.
Website: www.b90holdings.com
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END
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June 21, 2022 02:02 ET (06:02 GMT)
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