Results of Placing & Publication of Circular

RNS Number : 5336J

Gfinity PLC

24 August 2021

 

THIS ANNOUNCEMENT AND THE INFORMATION HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, TRANSMISSION, DISTRIBUTION OR FORWARDING DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, TRANSMISSION, RELEASE, DISTRIBUTION OR FORWARDING WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.   

24 August 2021

Gfinity PLC

("Gfinity", the "Company" or the "Group") 

Results of Placing & Publication of Circular

Further to the announcements of 23 August 2021 regarding the proposed Placing via accelerated bookbuild and PrimaryBid Offer (the "Placing Announcements"), the Company is pleased to announce that it has conditionally raised £3.3 million (before expenses) under the Placing, Subscription and PrimaryBid Offer. The Placing was oversubscribed.

Canaccord Genuity acted as Nominated Adviser, Sole Bookrunner and Sole Broker in connection with the Fundraising.

The following Directors have agreed to subscribe for the following New Ordinary Shares at the Issue Price:

Director/Related Party	Number of New Ordinary Shares subscribed	Value of New Ordinary Shares subscribed
John Clarke	625,000	£25,000
Jonathan Hall	250,000	£10,000
TOTAL	8 75,000	£ 35,000

The funds raised include gross proceeds of £0.3 million at 4.0 pence per Ordinary Share via the PrimaryBid Offer, which closed for participation at 7:00 p.m. on 23 August 2021. The Company will therefore issue and allot a total of 7,500,000 New Ordinary Shares to satisfy the PrimaryBid Offer.

Subject to shareholder approval, the Company will issue 82,500,000 new Ordinary Shares pursuant to the Placing, Subscription and PrimaryBid Offer at the issue price of 4.0 pence per share. Admission and dealings in the Placing Shares, Subscription Shares and the PrimaryBid Shares are expected to commence on AIM on 13 September 2021, subject to the passing of the Resolutions by Shareholders at the General Meeting.

A circular, containing further details of the Fundraising and notice of the General Meeting to be held at 10.00 a.m. on 10 September 2021 to, inter alia, approve the resolutions required to implement the Fundraising, is expected to be published and despatched to Shareholders today, 24 August 2021 (the "Circular").  Following its publication, the Circular will be available on the Group's website at https://www.gfinityplc.com/investors/reports/  

Words and phrases defined in the Placing Announcements will have the same meanings in this announcement.

Enquiries :

Gfinity plc John Clarke, CEO	www.gfinityplc.com Via Teneo
Teneo  (Media) Anthony Di Natale	Tel: [phone] [e-mail]
Canaccord Genuity Limited (Nominated Adviser, Sole Bookrunner & Sole Broker) Bobbie Hilliam / Georgina McCooke	Tel:[phone]

About Gfinity

Gfinity (AIM: GFIN) is a world leading esports business. Created by gamers for the world's 2.7 billion gamers, Gfinity has a unique understanding of this fast-growing global community.  It uses this expertise both to provide advisory services and to design, develop and deliver unparalleled experiences and winning strategies for game publishers, sports rights holders, commercial partners and media companies.

Gfinity connects its partners with the esports community in authentic and innovative ways. This consists of on‑ and off-line competitions and industry‑leading content production. Relationships include EA SPORTS, Activision Blizzard, F1 Esports Series and the Forza Racing Championship.

Gfinity connects directly with tens of millions of gamers each month through its digital media group, Gfinity Digital Media. Gfinity Digital Media includes websites such as: Gfinityesports, RealSport101, StealthOptional, RacingGames.gg, MTGRocks.com and their respective social channels.

All Gfinity services are underpinned by the Company's proprietary technology platform delivering a level playing field for all competitors and supporting scalable multi-format leagues, ladders and knockout competitions.

 

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