Placing

RNS Number : 3235J

Ultimate Sports Group PLC

17 December 2015

 

Ultimate Sports Group plc / Ticker: USG.L / Index: AIM / Sector: Investment

Ultimate Sports Group Plc ('USG' or 'the Company')

Placing to raise £200,000

Ultimate Sports Group Plc, the AIM listed investment vehicle, is pleased to announce that it has successfully raised £200,000 (before expenses) through the placing of 1 million ordinary shares in the Company ('Placing Shares') at a placing price of 20 pence per share (together 'the Placing').

The proceeds will be used for working capital as the Company focuses on effecting its growth strategy which is centred on increasing the numbers of coaches utilising its online sport coaching platform, ultimateplayer.me.  This platform was recently launched with the support of Dame Kelly Holmes and is designed to improve the engagement of children aged 4 to 11 in sports including football, rugby, tennis, cricket, boxing and golf.   The Company aims to deliver revenues through online purchases of merchandise and virtual rewards by parents looking to reward and incentivise their children.  

Ultimate Sports Group CEO Geoffrey Simmonds said, "Following the successful launch of our sport-coaching platform, Ultimate Player, we are delighted that our shareholders continue to demonstrate their support as we focus on increasing the numbers of users.  With technology leading the way in all fields of education, we recognise that sport is no exception and considering the very positive feedback we have had from parents and children alike, we believe that we are well placed to encourage, motivate and inspire the next generation of sport enthusiast and athletes."

The directors of the Company are participating for a total of £100,000 in the Placing as follows:

Director	Placing participation	Total resultant shareholding	Percentage of issued share capital
Richard Owen	137,500	1,444,672	9.46
Geoffrey Simmonds	250,000	1,557,092	10.20
John Zucker	62,500	449,373	2.94
David Coldbeck	25,000	99,015	0.64
David Hillel	25,000	86,406	0.56

Application has been made to London Stock Exchange plc for the Placing Shares to be admitted to trading on AIM, and Admission is expected to become effective at 8.00am on 11 January 2016. 

The Placing Shares will, when issued, be credited as fully paid and will rank equally in all respects with the existing ordinary shares of 10 pence each in the capital of the Company then in issue. 

Following Admission, the Company's issued share capital will consist of 15,261,638 ordinary shares.  In accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that, following Admission, the total number of voting rights in the Company will be 15,261,638. 

About www.ultimateplayer.me

UltimatePlayer.me encourages children aged 4-11 to be passionate about their participation in sports and focused on improving their skill by providing children with a wide range of applications through which they can engage with sport. 

The Ultimate Player programme provides users with a bespoke sporting skill set challenge, which is supported by a uniquely designed online platform proven to incentivise children in raising their levels of performance across all sports.  Points are awarded to players by qualified coaches ('Ambassadors') and/or parents/guardians (with overall supervision by Ambassadors) for completion of certain skill challenges such as tackling, ball handling and match play.

Users can also create personalised profiles online, through which they can access and track their sporting performance and compare their performance to other users.  Importantly, in line with safeguarding children, online registration will need to be completed/confirmed by a consenting adult (a parent, guardian or Ambassador).  A strict vetting procedure is also implemented to validate the status of Ambassadors. 

As children rise through the levels towards Ultimate player status parents are able to reward and incentivise them by purchasing merchandise online with the Ultimate Player logo and also to buy a range of virtual rewards which enhance their children's profile page.

**ENDS**

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

Geoffrey Simmonds	Ultimate Sports Group Plc	Tel: [phone]
Marc Milmo	Cantor Fitzgerald Europe	Tel: [phone]
Catherine Leftley	Cantor Fitzgerald Europe	Tel: [phone]
Neil Badger	Dowgate Capital Stockbrokers Ltd	Tel: [phone]
Jason Robertson	Dowgate Capital Stockbrokers Ltd	Tel: [phone]
Elisabeth Cowell	St Brides Partners Ltd	Tel: [phone]
Charlotte Heap	St Brides Partners Ltd	Tel: [phone]

 

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