REG - B90 Holdings PLC - Oddsen Acquisition Update

B90 HoldingsAnnouncement

13/05/2022 16:15

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RNS Number : 5033L  B90 Holdings PLC  13 May 2022

13 May 2022

 

B90 Holdings plc

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

 

Oddsen Acquisition Update

 

Issue of equity in relation to deferred consideration

 

The Company announced on 30 September 2021 that it had acquired the domain,
business IP and 100% of the operations of Oddsen.nu ("Oddsen"), a Norwegian
sports-bet affiliate site (the "Acquisition").  As part of the terms of the
Acquisition a payment of €1.05 million was due on or before 31 March 2022,
(the "Deferred Consideration") which, at the discretion of the Company, could
be satisfied either in cash or by the allotment and issue of new ordinary
shares of no par value in the capital of the Company ("Ordinary Shares"), with
such number of new Ordinary Shares to be calculated by reference to the volume
weighted average closing price per Ordinary Share over the five business days
immediately preceding the date of allotment.

 

Accordingly, the Company is pleased to announce that the Deferred
Consideration has been satisfied by the issuance of 13,452,632 new Ordinary
Shares at a price of 6.65p pence per share.

 

Admission

 

These new Ordinary Shares will rank pari passu with the existing Ordinary
Shares and application is being made to the London Stock Exchange plc for
admission of the 13,452,632 new Ordinary Shares to trading on AIM
("Admission") which is expected to take effect at 08.00 am on or around 20 May
2022.

 

Total voting rights

 

 On Admission, the Company's total issued share capital will consist
of 251,859,215 Ordinary Shares with voting rights.  The Company does not
hold any Ordinary Shares in treasury and accordingly there are no voting
rights in respect of any treasury shares. On Admission, the abovementioned
figure of 251,859,215 Ordinary Shares may be used by shareholders in the
Company 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, B90 under the Financial Conduct Authority's Disclosure and
Transparency Rules.

 

Commenting on the performance of Oddsen, Karim Peer, Non-Executive Chairman,
said:

 

"The integration of Oddsen into our business has progressed very well, and
since the acquisition was announced, it has traded in line with management's
expectations."

 

"We have added a valuable new domain to our online real estate; have increased
our affiliate marketing capability; and we have taken our operations into
Norway, an attractive, stable and well-established market for sports
betting.  It also provides a platform for us to enter new markets, and we
look forward to making further announcements in due course."

 

 

-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 Union (Withdrawal) Act 2018 (as amended).

 

For further information please contact:

 

B90 Holdings
plc
                +44 (0)1624 605 764

Karim Peer, Non-Executive Chairman

Marcel Noordeloos, Chief Financial Officer

 

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

James Harris / Richard Johnson / 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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