REG - B90 Holdings PLC - Withdrawal of Requisition and Directorate Changes

B90 HoldingsAnnouncement

07/11/2022 07:45

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RNS Number : 5062F  B90 Holdings PLC  07 November 2022

7 November 2022

 

B90 Holdings plc

("B90" or the "Company")

 

Withdrawal of Requisition for General Meeting

and

Directorate changes

 

 

B90 Holdings plc (AIM: B90), the online marketing and operating company for
the gaming industry, announces that it has received a written communication
from the Requisitioning Shareholders requesting the withdrawal of the
requisition for an Extraordinary General Meeting ("EGM"). Consequently, the
Resolutions, as detailed in the Circular and Notice dated 17 October 2022,
will not be put to the EGM, scheduled to be held today, Monday 7 November
2022.

 

Following receipt of shareholder proxy votes and letters of representation,
B90 further announces the following Board changes:

 

Ronny Breivik and Martin Fleisje are being appointed to the Board with effect
from 7(th) November 2022.

 

Ronny will be joining as an executive director, holding the title of Interim
Executive Chairman. Ronny initially joined B90 as CEO of B90 Ventures Ltd, the
main operating subsidiary of the Group in April 2021. Ronny has worked in
online gaming since 1997 and launched the first gaming portal in Norway.

In the early 2000s, Ronny was involved in a start-up, OddsAlive.com, which was
subsequently sold to BetInternet in 2003.  From 2004 until 2006 Ronny worked
with Sportingbet.com, while also taking on the role of Product Manager for
Bet24.com, which was later sold to the Modern Times Group.  While at
Bet24.com, Ronny introduced live betting and online poker to that company's
product portfolio, creating and honing a profitable business model for live
betting and online poker.

From 2006 until 2011, Ronny was the CEO of M&B Poker Invest Ltd, which
specialised in betting affiliation.  During this time, Ronny co-founded and
was one of the pioneers of the world's first 'rakeback' site, arguably
disrupting the online poker world.

Since 2011, Ronny has held directorships in Data Empire Holdings Limited and
Performance Media SIA

Martin will be appointed as an independent non-executive Director. Martin is
currently chief financial officer of Induct AS, a Norwegian software company.
Prior to joining Induct AS, Martin spent the majority of his career in wealth
management and sales most recently with Kraft Finans AS and Pioner Kapital AS,
both based in Norway.

 

Karim Peer, Executive Chairman and Nigel Eastwood, non-executive Director are
stepping down from the Board with immediate effect.

 

 

 

Following the above changes, the Directors intend to review the composition of
the Board, both at executive and non-executive level, including seeking to
identify and recruit one or more additional independent Directors to further
enhance the Board's experience and expertise as B90 completes its turnaround
and pursues its growth strategy.  The Board looks forward to updating the
market on progress in due course.

 

The Board wishes to thank Karim and Nigel for their contribution to the Group
and wishes them both well in their future endeavours.

 

Commenting on the changes Mark Rosman, Senior Non-executive Director, said "I
would like to welcome Ronny and Martin to the Board and together we look
forward to being able to continue the direction of travel in the business
started by Karim.  We thank Nigel and Karim for their contribution to B90."

 

Additional disclosures

 

In accordance with the AIM Rules, the following information is disclosed:

1.     Full name: Ronny Ingvar Breivik (age: 48)

 Current Directorships/Partnerships  Directorships/Partnerships held within the past five years
 Spintastic NV                       Data Empire Holdings Limited

                                     Performance Media SIA

 

Mr Breivik's interest in the Company's ordinary shares ("Shares") comprises
18,362,042 Shares (of which 8,600,000 Shares are via Entercreation Limited,
owned by Mr Breivik) and a further 10,770,762 Shares through Performance Media
SIA, in which Mr Breivik is a 34.65% shareholder. He holds 3,000,000 options
in the Company.

 

2.     Full name: Martin Fleisje (age: 42)

 Current Directorships/Partnerships  Directorships/Partnerships held within the past five years
 Warm Systems AS

 More Colly AS

 

Mr Fleisje has an interest in 196,806 ordinary shares in the Company. He holds
no options in the Company.

Other than the information disclosed above, there is no further information in
respect of the above appointments required to be disclosed under Schedule 2
paragraph (g) of the AIM Rules.

 

All capitalised/defined terms used in this announcement and not otherwise
defined shall have the meanings given to them in the Circular and Notice dated
17 October 2022.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended.

 

 

For further information please contact:

 

B90 Holdings
plc
                                +44 (0)1624 605
764

Marcel Noordeloos, Chief Financial Officer

 

Strand Hanson Limited (Nominated Adviser)
                    +44 (0)20 7409 3494

James Harris / Richard Johnson / Rob Patrick

 

Arden
(Broker)
                               +44 (0)20 7614 5900

Ruari McGirr

 

Belvedere (Financial PR & IR)
                                          +44 (0)20
3008 6864

John West / Llewellyn Angus

 

About B90 Holdings plc

B90 Holdings plc is a group of companies focused on the operation of its own
online Sportsbook and Casino product as well as marketing activities for other
online gaming companies.

 

Website: www.b90holdings.com (http://www.b90holdings.com)

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