REG - YOLO Leisure & Tech - Further Issue of Equity <Origin Href="QuoteRef">YOLO.L</Origin>

AsimilarAnnouncement

20/01/2016 12:20

RNS Number : 4642M
YOLO Leisure & Technology PLC
20 January 2016
YOLO Leisure and Technology plc
("YOLO" or the "Company")
Additional Placing
Further to the announcement released earlier today, the Company announces that it has raised a further 34,000 before expenses by means of a placing of 2,266,666 new ordinary shares of 1p each in YOLO at a price of 1.5p per share with Directors of the Company ("Placing Shares"), taking the total fund raise to 600,000. As part of the placing, the Company has also issued 566,666 warrants to Directors to subscribe for new ordinary shares in YOLO at 1.8p per share ("Warrants"), on the basis of one warrant for every four Placing Shares acquired. 
The Directors' participation in the placing and resultant interests are as follows:
Director
Acquired
Resultant beneficial interest
Placing Shares
Warrants
Ordinary shares
% of enlarged share capital
Warrants
Simon Robinson
1,600,000
400,000
7,260,432
4.06
4,861,538
Sohail Bhatti
666,666
166,666
666,666
0.37
2,166,666
The Directors' participation in the placing is considered to be a related party transaction under the AIM Rules for Companies. In the absence of any independent directors, Cairn Financial Advisers LLP, the Company's nominated adviser, considers that the terms of the placing are fair and reasonable insofar as the Company's shareholders are concerned.
Application has been made for the Placing Shares to be admitted to trading on AIM. Admission is expected to occur on or around 22 January 2016. The new ordinary shares will rank pari passu with the existing ordinary shares.
Following the Admission of all the placing shares from both placings announced today, the total issued share capital of the Company will be 178,922,758 ordinary shares, each with voting rights. 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, the Company, under the Disclosure and Transparency Rules.
--ENDS-
For further information please contact:
YOLO Leisure and Technology plc
Simon Lee Robinson
Simon.robinson@yoloplc.com
Cairn Financial Advisers LLP
Sandy Jamieson , Emma Earl
Tel: +44 20 7148 7900
Peterhouse Corporate Finance Limited (Sole broker)
Duncan Vasey / Lucy Williams
Tel: + 44 20 7220 9797
Walbrook PR Ltd
Tel: +44 20 7933 8787 or yolo@walbrookpr.com
Paul McManus
Mob: +44 7980 541 893
Sam Allen
Mob: +44 7884 664 686

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