REG - B90 Holdings PLC - Raise of a further £1.1 million

B90 HoldingsAnnouncement

05/04/2023 14:15

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RNS Number : 5201V  B90 Holdings PLC  05 April 2023

5 April 2023

 

B90 Holdings plc

("B90" or the "Company")

 

B90 raises a further £1.1 million

 

B90 Holdings (AIM: B90), the online marketing and operating company for the
gaming industry, today announces that it has raised a further £1.1 million
through subscriptions for convertible loan notes ("Loan Notes") by existing
and new investors in the Company.  The net proceeds raised will be used to
develop the growth initiatives of the Company and for general working capital
purposes.

 

The Loan Notes have a term of three years from issue and are convertible no
earlier than 1 January 2024, at the request of the Loan Note holder, at a 10%
discount to the volume weighted average price for the five trading days prior
to the conversion notice.  The Loan Notes are convertible, at the discretion
of the Company, at any time and on the same terms.  The Loan Notes carry a
coupon of 10% per annum, which shall accrue and be paid upon redemption or
conversion.

 

Ronny Breivik, Interim Executive Chairman of B90 commented:

 

"The business has continued to perform in line with management expectations
and our recent fundraisings are being deployed to invest in marketing
operations and customer service.  Investment in our business operations is
driving organic growth and we are making meaningful progress in identifying
value accretive acquisitions."

 

"Overall, we remain confident about our future prospects and we look forward
to giving a more detailed update at the time of the full year results, which
we expect to be before the end of May 2023."

 

The information communicated in 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

 

Ronny Breivik, Interim Executive Chairman

Marcel Noordeloos, Chief Financial Officer

 

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

James Harris / Richard Johnson / Rob Patrick

 

Zeus Capital Limited
(Broker)
+44 (0)20 3829 5000

Louisa Waddell / Tim Dainton

 

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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