Further Issue of Equity

RNS Number : 4642M

YOLO Leisure & Technology PLC

20 January 2016

 

YOLO Leisure and Technology plc

("YOLO" or the "Company")

Additional Placing

Further to the announcement released earlier today, the Company announces that it has raised a further £34,000 before expenses by means of a placing of 2,266,666 new ordinary shares of 1p each in YOLO at a price of 1.5p per share with Directors of the Company ("Placing Shares"), taking the total fund raise to £600,000.  As part of the placing, the Company has also issued 566,666 warrants to Directors to subscribe for new ordinary shares in YOLO at 1.8p per share ("Warrants"), on the basis of one warrant for every four Placing Shares acquired.  

The Directors' participation in the placing and resultant interests are as follows:

Director	Acquired		Resultant beneficial interest
	Placing Shares	Warrants	Ordinary shares	% of enlarged share capital	Warrants
Simon Robinson	1,600,000	400,000	7,260,432	4.06	4,861,538
Sohail Bhatti	666,666	166,666	666,666	0.37	2,166,666

The Directors' participation in the placing is considered to be a related party transaction under the AIM Rules for Companies.  In the absence of any independent directors, Cairn Financial Advisers LLP, the Company's nominated adviser, considers that the terms of the placing are fair and reasonable insofar as the Company's shareholders are concerned.

Application has been made for the Placing Shares to be admitted to trading on AIM.  Admission is expected to occur on or around 22 January 2016.  The new ordinary shares will rank pari passu with the existing ordinary shares.

Following the Admission of all the placing shares from both placings announced today, the total issued share capital of the Company will be 178,922,758 ordinary shares, each with voting rights.  The above figure may be used by shareholders 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 Disclosure and Transparency Rules.

--ENDS-

For further information please contact:

YOLO Leisure and Technology plc
Simon Lee Robinson	[e-mail]
Cairn Financial Advisers LLP
Sandy Jamieson               , Emma Earl	Tel: [phone]
Peterhouse Corporate Finance Limited (Sole broker) Duncan Vasey / Lucy Williams	Tel: + 44 20 7220 9797
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Sam Allen	Mob: [phone]

 

END

 

 

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