REG - B90 Holdings PLC - New Affiliate Deal

B90 HoldingsAnnouncement

23/08/2021 07:00

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RNS Number : 3824J  B90 Holdings PLC  23 August 2021

For release: 07.00, 23 August 2021

 

B90 Holdings plc

("B90", the "Company" or "Group")

Affiliate Agreement signed with Nordic Group

 

B90 Holdings plc (AIM: B90), the online marketing and operating company for
the gaming industry, announces that it has signed an affiliate marketing
agreement with Nordic Group ltd ("Nordic"), a leading marketing and online
advertising partner, with a focus on Latin America and the Nordics, to promote
all its sportsbook and online casino services in various territories.  The
affiliate deal covers all current and future Bet90 brands and subsidiaries and
Nordic will commence promotional activities immediately.

 

Nordic has an established and extensive marketing network in various countries
and uses a mix of content such as blogs and websites sharing tips and
strategies, and  reviews, as well as news and information about offerings,
schemes and products, across a variety of on-line and social media.  They
also employ the latest search engine optimisation and digital promotion
techniques.

 

B90 will pay Nordic an initial Affiliate Fee (the "Initial Affiliate Fee")
amounting to €150,000, which will be settled in new Ordinary Shares on 30
November 2021. The total number of new Ordinary Shares to be issued in
satisfaction of the Initial Affiliate fee will be calculated based on the
average closing mid-market price of B90's Ordinary Shares over the five
dealing days ending on 30 November 2021 rounded upwards to the nearest whole
new Ordinary Share and on the then prevailing exchange rate.

 

Issue of the new Ordinary Shares is conditional on Nordic generating a minimum
of €75,000 ("minimum criteria") in new revenue for the Company by 30
November 2021, with the option to amend the agreement and the number of new
Ordinary Shares to be issued if the minimum criteria is not met.  Thereafter,
the agreement reverts to a typical affiliate deal with payment based on the
amount of traffic and new customer revenue generated from Nordic's network.

 

Further share based payments will become due on 28 February 2022, 31 May 2022
and 31 August 2022 ("payment dates"), converting the actual affiliate fee
earned in excess of the first €150,000 into shares based on the average
closing mid-market price of B90's Ordinary Shares over the five dealing days
leading up to each of the payment dates.  The maximum amount that can be
converted into equity is capped at €400,000, with any amount in excess to be
setted in cash.

 

Commenting, Paul Duffen, executive Chairman said:

 

"As previously stated our strategy is to build our brand, customer and
ultimately revenue base into new geographies, using a mix of both affiliates
and direct marketing.  Nordic is a great affiliate partner for us in these
territories, given it has an excellent established network. The agreement has
been structured to mitigate risk and preserve initial cash outlay, whilst
maximising potential future cash generation for the Company and incentivise
the affiliate.  We look forward to working with Nordic across our on-line
real estate to enter into new and profitable markets."

 

Commenting, Håvard Lehn, CMO of Nordic Group said:

 

"By partnering with Bet90 we are following our business development strategy.
We know that our traffic will be a perfect match for this partner and the
incentives to send traffic are there for us to prioritize their brands. We are
enthusiastic to become shareholders in B90 Holdings plc."

 

 

 

-ends-

 

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 (Withdrawal) Act 2018

 

For further information please contact:

 

B90 Holdings
plc
+44 (0)1624 605 764

Paul Duffen, Executive Chairman

Marcel Noordeloos, Chief Financial Officer

 

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

James Harris / James Dance / Rob Patrick

 

Whitman Howard Ltd (Broker)

Nick Lovering

 

Belvedere (Financial PR & IR)
                         +44 (0)20 3687 2754

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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