Completion of Placing & Result of General Meeting

RNS Number : 3852H

Bango PLC

30 November 2015

 

BANGO PLC

("Bango" or "the Company")

Completion of Placing & Result of General Meeting

Bango (AIM: BGO), the mobile payments company, announces the completion of a Placing of 12,222,222 New Ordinary Shares at 90 pence per share to raise £11.0 million before expenses. At a General Meeting held today, all of the resolutions as set out in the Circular dated 11 November 2015 were duly passed.

Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM.  It is expected that Admission to AIM will become effective and that dealings will commence on 1 December 2015. 

Following Admission, the New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of 20 pence each in issue including the right to receive all dividends and other distributions declared. Following the Placing, Bango's total issued and voting share capital will comprise 64,431,751 Ordinary Shares. This 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, securities of the Company under the FCA's Disclosure and Transparency Rules.

Ray Anderson, CEO of Bango, commented:

"We are very pleased that the placing has been so well supported by both existing and new institutional investors, with demand for Bango's shares exceeding the maximum number that was made available. The net proceeds enable Bango to capitalize on a strong pipeline of opportunities while maintaining current levels of technological innovation and support for Bango's major app store partners as they increase their global coverage. As the leading provider of Direct Carrier Billing to the global app stores, Bango is benefiting from the increasing demand for this payment method. Approaching the end of 2015, Bango has great momentum and a strong financial position."

For further information please contact:

Bango plc
Ray Anderson, CEO	[phone]
Gerry Tucker, CFO
Cenkos Securities plc	[phone]
Nick Tulloch / Beth McKiernan
FTI Consulting
Matt Dixon / Chris Lane / Rob Mindell	[phone]

About Bango

Bango's mobile payment platform is vital to the global growth in digital content sales. The giants of mobile choose the Bango Payment Platform to provide a delightful and immediate payment experience that maximizes sales of digital content.

With over 140 markets activated by Bango partners, the Bango Payment Platform is established as the global standard for app stores to offer carrier billing. As the next billion consumers pick up their first smartphone, Bango technology will be there to unlock the universe of apps, video, games and other content that bring those smartphones to life. Global leaders plugging into Bango include Amazon (NASDAQ: AMZN), BlackBerry (NASDAQ: BBRY), Google (NASDAQ: GOOG), Samsung (005930: Korea SE), Microsoft (NASDAQ: MSFT) and Mozilla. Visit: bango.com

 

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