Nektan plc (AIM: NKTN), a leading international B2B mobile gaming content developer and platform provider, has told DirectorsTalk that, further to its announcement of 6 October, it has raised an additional £1.36 million through the placing of 937,929 new ordinary shares of £0.01 each at 145 pence per Ordinary Share (together the “Fundraising”).
The Company has today allotted and issued the placing shares, credited as fully paid and being identical to and ranking pari passu in all respects with the existing Ordinary Shares. Accordingly, an application has been made for admission of the new Ordinary Shares to trading on AIM (“Admission”), and it is expected that such Admission will become effective and that dealings will commence on AIM at 8.00 a.m. UK (BST) time on 30 December 2015.
The net proceeds from the Fundraising will be primarily used to focus on driving further expansion in the US tribal and commercial casino market through the Group’s US joint venture, Respin, as well as supporting the Company’s working capital requirements.
Following Admission, the Company’s enlarged issued ordinary share capital will comprise 23,744,564 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure of 23,744,564 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 in their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
Gary Shaw, Executive Chairman of Nektan, said: “Our US joint venture continues to make significant progress with tribal and commercial casino operators, helping to strengthen our first mover advantage. Our first product, Xtraspin, a mobile enabled bonus wheel, is continuing to deliver improved revenues in-venue and is now live in California, Oregon, Nevada and Louisiana. Rapid Games, our in-venue mobile games platform, will allow players to play casino real money games on their own devices in casinos and will launch in the first quarter of 2016. We are particularly pleased that Apple has now approved the “Rapid Games App” for launch, meaning that casino customers who are Apple mobile users will be able to easily download the App from Apple’s App store and, in a fully compliant way, play real money games for the first time in-venue.
The net proceeds of the Fundraising will be principally used to support the delivery of our mobile enabled products and services into the land-based casino market as more and larger operators in the US contract for our innovative gaming solutions.”
