Extension of Casino Licences

RNS Number : 8550E

Cubus Lux plc

31 December 2009

 



Cubus Lux plc

("Cubus Lux" or the "Company")

Extension of Casino Licences and Issue of Equity 

Cubus Lux, the Croatia-focused leisure resort operator and developer, announces that it has received confirmation that its uncapped casino operators licence in Croatia, which was due to expire on 31^st December 2009, has been extended by the Croatian Government for a further five years (the maximum period of extension available to the Croatian Government to grant). The licence is held in the name of the Company’s Croatian subsidiary company, Cubus Lux doo, and its extension will enable the Group to continue its investment programme into further casinos in Croatia. This extension provides additional potential expansion opportunities, as the new Croatian Gaming Law for casino operators, effective as of January 1^st 2010, permits for the first time on-line gaming to be provided by licensees.

The Company announces further that it has conditionally allotted 325,000 ordinary shares of 10p each in the capital of the Company ("Shares") at a price of 17.5p each, raising approximately £57,000.  

Application has been made for admission of these Shares to trading on AIM ("Admission"), and this is expected to become effective on 7 January 2010. Completion of the share issue (and the issue of the Shares) is conditional on amongst other things Admission having occurred by 7 January 2010.

The Shares will when issued rank pari passu with the existing ordinary shares in issue. The proceeds of the share issue will be used for the continuation of the Molatska residential/commercial project and to provide the Company with additional working capital.

Of the Shares, 75,000 are to be issued to Dodge Private Equity Limited, a company of which Gerhard Huber (the Chairman of Cubus Lux) owns the entire issued share capital.

Following the issue of the Shares, Mr Huber's interests in ordinary shares of 10p each in the Company will be as follows:

Number of ordinary shares	Percentage of ordinary share capital in issue following the issue of the Shares	Options
3,205,862	16.6%	200,000

Following the issue of the Shares, and in conformity with the Financial Services Authority's Disclosure and Transparency Rules, Cubus Lux gives notice that its voting capital consists of:

Ordinary Shares	Nominal Value	Share Capital	Ordinary Shares held in Treasury
19,261,122	10p	£1,926,112.20	-

As Cubus Lux does not hold any ordinary shares in Treasury, its total number of voting rights equals its capital.

The above 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, Cubus Lux under the FSA's Disclosure and Transparency Rules.

For further information about the Company please see www.cubuslux.com or contact: 

Steve McCann

Cubus Lux plc

[phone]

Jo Turner/Luke Cairns/Lindsay Mair 

Astaire Securities plc 

[phone]

Claire Louise Noyce/Stephen Austin, 

Broker Hybridan LLP

[phone]

Pam Spooner

City Road Communications

[phone]

[phone]

 

END

 

 

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