Information  X 
Enter a valid email address

Westside Investments (WST)


Tuesday 24 December, 2013

Westside Investments

Placing to continue development of social network

RNS Number : 2717W
Westside Investments PLC
24 December 2013

Westside Investments plc / Ticker: WST.L / Index: AIM / Sector: Investment


Westside Investments plc ('Westside' or 'The Company')

Placing to raise £364,000 to Continue Development of Social Network


Westside Investments plc, the AIM listed investment vehicle, is pleased to announce that it has raised £363,574 (before expenses) by way of a placing of 207,757,000 new ordinary shares in the Company ('the Placing Shares') at a price of 0.175 pence per Placing Share ('the Placing') with existing and new investors ('the Placees'). The funds raised will be used to advance the development of a new child-friendly, football-focussed social network for children aged between 7 and 17, and follows the recent acquisition of Football Data Services Ltd ('Football Data Services').


This interactive social network will compile football data related to fixtures, results, league tables and player performance.  It will also supply information on several leagues and cup competitions, including (but not limited to) competitions based in the UK, Europe and South America, as well as international fixtures. Westside has proven experience in operating child-focussed sporting activities, and this project will benefit from this.


A number of the directors of Westside have participated in the Placing as set out below:



Placing participation (shares)

Enlarged holding

% enlarged holding

Richard Owen




Geoffrey Simmonds




John Zucker




David Hillel





The participation of Richard Owen (Chairman) and Geoffrey Simmons (Non-executive Director) is a related party transaction under AIM Rule 13. David Coldbeck, being the only director of the Company not party to the Placing, having consulted with Cantor Fitzgerald Europe, consider the participation of Mr. Owen and Mr. Simmonds fair & reasonable in so far as shareholders are concerned.


Westside CEO Geoffrey Simmonds said, "This fundraising, which rapidly follows the acquisition of Football Data Services, demonstrates our strong commitment to creating a leading football-focussed social network targeted towards children between the ages of 7 and 17.  Our strengthened cash position will ideally position us to press ahead with this aim and I am confident that we will be able to capitalise on a growing and varied market by creating a new and unique social network that provides a child-friendly experience grounded in football."


The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company.  Application has been made for the Placing Shares to be admitted to trading on AIM and accordingly dealings will commence at 7am on 20 January 2014 ('Admission').  Following Admission, the total number of voting rights in the Company will be 1,319,245,845 ordinary 0.1p shares.  This number 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, the Company under the FCA's Disclosure and Transparency Rules.





For further information please visit  or contact:

Geoffrey Simmonds

Westside Investments Plc

Tel: 020 7935 0823

Mark Percy

Cantor Fitzgerald Europe

Tel: 020 7897 7000

Catherine Leftley

Cantor Fitzgerald Europe

Tel: 020 7894 7000

Elisabeth Cowell

St Brides Media & Finance Ltd

Tel: 020 7236 1177



This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t