Equity subscription

RNS Number : 5853F

Ultimate Sports Group PLC

15 July 2019

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

15 July 2019

Ultimate Sports Group PLC

("USG" or the "Company" or the "Group")

Equity subscription

Ultimate Sports Group PLC, the AIM listed investment vehicle, is pleased to announce that the Company has raised £290,000 before expenses by way of a conditional subscription for 2,000,000 new ordinary shares of 1 pence each ("Subscription Shares") at a price of 14.5 pence per share (the "Subscription").  The net proceeds of the Subscription will be used for general working capital purposes.

The Subscription Shares are expected to be admitted to trading on AIM at 8am on 24 July 2019.

The Issue Price represents a discount of 0.07 per cent. to the closing price of 14.65 pence on 12 July 2019. The Subscription is not being underwritten and is conditional on admission of the Subscription Shares to trading on AIM. The Subscription is being conducted pursuant to the existing authorities granted to the Directors of the Company at its annual general meeting on 29 August 2018. The Subscription Shares represent approximately 5.6 per cent. of the Company's issued share capital as enlarged by the Subscription Shares.

Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will occur at 8.00 a.m. on 24 July 2019. The Subscription Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of the Subscription Shares, respectively and will otherwise be identical to and rank on Admission pari passu in all respects with the existing ordinary shares of 1 pence each of the Company.

Following Admission, the Company will have 35,561,638 Ordinary Shares in issue, none of which will be held in treasury.  Accordingly, the total number of voting rights in the Company will be 35,561,638 and shareholders may use this figure 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 FCA's Disclosure Guidance and Transparency Rules.  

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For further information, please visit www.ultimatesportsgroup.me or contact:

Ultimate Sports Group PLC Geoffrey Simmonds, Managing Director	[phone]
St Brides (Financial PR) Catherine Leftley/Gaby Jenner	[phone]
Cantor Fitzgerald Europe (Nomad and Broker) David Foreman	[phone]

 

END

 

 

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