Subscription to raise £300,000

RNS Number : 6715T

Immotion Group PLC

26 March 2021

 

26 March 2021

Immotion Group plc

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

£300,000 cash subscription at 5p

Immotion Group, the UK-based immersive entertainment group, is pleased to announce that following an approach from one of its existing institutional investors, it has it has entered into a subscription agreement to raise a total of £300,000 (the "Subscription"). The Subscription will be settled by the issue of 6,000,000 new ordinary shares ("Subscription Shares") at a price 5 pence per share ("Subscription Price") (following which the Company will have a total of 415,538,083 ordinary shares in issue).

The Subscription Price represents a premium of 15 per cent. to the closing mid-market price on 25 March 2021.  Admission of the Subscription Shares to trading on AIM is expected on 31 March 2021.

We will update further on current trading and prospects for 2021 in our full year (2020) results statement, expected to be released on 29 April 2021.

Application for Admission

Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM. Admission of and dealings in the Subscription Shares is expected to commence at 8.00 a.m. on 31 March 2021.

Following Admission, the Company will have 415,538,083 Ordinary Shares in issue, each carrying one voting right.  No shares are held in treasury.

The above figure may therefore be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

General

All Subscription Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all distributions declared on or after the date on which they are issued.

Enquiries:

 For further information please visit  www.immotion.co.uk , or contact: 

Immotion Group	Martin Higginson David Marks	Tel + 44 (0) 207 220 1666
WH Ireland Limited (Nomad and Joint Broker)	Adrian Hadden  Darshan Patel Matthew Chan	Tel + 44 (0) 207 220 1666
Alvarium Capital Partners (Joint Broker)	Alex Davies	Tel: [phone]

Shard Capital Partners LLP (Co-Broker)

Damon Heath Erik Woolgar

Tel: [phone]

 

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