REG - Intuitive Invests.Gp - Equity Fundraise

Intuitive InvestmentsAnnouncement

18/10/2024 07:00

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RNS Number : 6836I  Intuitive Investments Group plc  18 October 2024

18 October 2024

Intuitive Investments Group plc

("IIG" or the "Company")

Equity fundraise of £6.2 million

Funds to support acceleration of Hui10 roll out in China

Intuitive Investments Group plc (SFS:IIG), advised by the recently appointed
Zeus Capital Limited, is pleased to announce it has raised £6.2 million by
the issue and allotment of 4,624,840 ordinary shares of 10 pence
each ("Ordinary Shares"). These Ordinary Shares will be issued for cash at a
price of £1.33 per share being a premium of 1.5% to mid-market price as of
the close of business on 17 October 2024. The proceeds of the issue will be
invested in Hui10 Inc. ("Hui10") to accelerate the rollout of Hui10's products
and services in China

Hui10 has made significant progress since IIG's investment in October 2023 and
is currently delivering it's PELT (Points Exchange for Lottery Tickets)
platform nationally in association with the National Sports Lottery, through
Hui10's contracts with companies including Qunar and Alibaba's ErLeMa. HongBao
is operating in Hebei province with China Mobile, with further contracts in
the pipeline. Furthermore, its POSLOT scratchcard operation is expanding under
the UGO platform which is currently being piloted and is due to commence its
roll out in November 2024.

The roll out of terminals is on track with over 1,500 HongBao terminals now
deployed, giving the business majority coverage in Hebei province, and over
2,000 Lucky World shops connected. Hui10 has opened its first two Lucky World
flagship Sports Lottery stores in Shijiazuang and Handan, which are co-branded
with China State Farms and China Mobile, with further stores opening in the
coming months.

The business remains on target to deliver its strategic roadmap to digitise
the lottery in China and transform the lottery store network through Lucky
World.

As part of the fund raise Giles Willits, Chief Investment Officer of IIG
purchased 75,190 shares, taking the total number of shares he holds to
269,189, representing 0.13% of the Company's issued share capital, post
admission of the new Ordinary Shares.

The new Ordinary Shares constitute 2.2% of the Company's currently issued
share capital. Application has been made for the new Ordinary Shares, which
will rank equally with the existing Ordinary Shares of the Company, to be
admitted to trading on Specialist Fund Segment of the Main Market, becoming
effective in accordance with the admission and disclosure standards of the
London Stock Exchange. It is expected that admission will become effective and
dealings in new Ordinary Shares will commence at 8:00 a.m. on or around 21
October 2024 ("Admission").

Following Admission, the Company's issued share capital will consist
of 206,918,006 Ordinary Shares. Since the Company currently holds no shares
in treasury, the total number of voting rights in the Company will
be 206,918,006. Shareholders may use this figure 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 FCA's
Disclosure Guidance and Transparency Rules.

Sir Nigel Rudd, non-Executive Chairman, said:

"I am delighted to welcome our new investors, who join us at a very exciting
time as we focus on the continued growth of Hui10 as it capitalises on the
significant opportunity ahead in digitalising the Chinese lottery.

Hui10 has made great strides in the delivery of its strategy in the past
twelve months. I am confident that the business is well-placed to deliver
significant revenue growth and substantial shareholder value."

 

Enquiries:

 

 Intuitive Investments Group plc                    www.iigplc.com (http://www.iigplc.com/)

 Sir Nigel Rudd, Non-Executive Chairman             Via FTI Consulting

 Robert Naylor, CEO

 Giles Willits, CIO

 Zeus                                               +44 (0)20 3829 5000

 Nick Cowles / Graeme Summers / Dominic King

 FTI Consulting                                     +44 (0)20 3727 1000

 Jamie Ricketts / Valerija Cymbal / Jemima Gurney   IIG@fticonsulting.com

 

 

About Intuitive Investments Group plc

IIG is an investment company seeking to provide investors with exposure to a
portfolio concentrating on fast growing, high potential Technology and Life
Sciences businesses operating predominantly in the UK, continental Europe, the
US and APAC, utilising the Board's experience to seek to generate capital
growth over the long term for shareholders.

 

About Hui10

Hui10 is a technology company with interests in two operating businesses,
Huishi Dehua and Huishi Chunyuan ('Lucky World'), involved in the digital
transformation of the Chinese lottery. Huishi Dehua enables the market
expansion of the Chinese lottery through its proprietary technology platform.
Huishi Dehua is integrated into China's national card settlement system and
payment platform, UnionPay. Hui10 holds a 33% share in Huishi Dehua. Lucky
World is an ecommerce platform which provides China's existing lottery shops
access to a wider fast-moving consumer goods product offering. Hui10 owns 60%
of Lucky World.

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Giles Willits

 2    Reason for the notification

 a)   Position/status                                              Chief Investment Officer

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Intuitive Investments Group plc

 b)   LEI                                                          2138004A32UIY92WWR66

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument  Ordinary shares of 10 pence each

      Identification code                                          GB00BPTH6Y20

 b)   Nature of the transaction                                    Purchase of shares

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     £1.33             75,190

 d)   Aggregated information                                       N/A single transaction

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      17 October 2024

 f)   Place of the transaction                                     London Stock Exchange

 

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