Placing - Issue of equity
28 January 2015
The Company announces that it has issued 32,000,000 new ordinary shares of 1p each in YOLO at a price of 1.8p per share to Euroblue Investments Limited ("Euroblue"), raising £576,000 before expenses. As part of the placing, the Company has also issued Euroblue with 8,000,000 warrants to subscribe for new ordinary shares in YOLO at 1.8p per share.
Following the issue of equity, Euroblue, a company controlled by Mr Nigel Wray, will have an interest over 32,000,000 ordinary shares on the Company, representing approximately 23.3 per cent of the Company's issued share capital.
Application has been made for the 32,000,000 new ordinary shares to be admitted to trading on AIM. Admission is expected to occur on or around 2 February 2015. The new ordinary shares will rank pari passu with the existing ordinary shares.
For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital at the date of this notice consists of 137,552,547 ordinary shares of 1p each. The above figure may be used by shareholders 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 Disclosure and Transparency Rules.
Simon Robinson, Chief Executive Officer of YOLO, commented:
"We are delighted to welcome Nigel Wray/EuroBlue as an investor into the Company and view it as a sign of the confidence in the management team's ability to deliver value for shareholders"
For further information please contact:
|YOLO Leisure and Technology plc
|Cairn Financial Advisers LLP
|Tel: +44 20 7148 7900
|Peterhouse Corporate Finance Limited
|Eran Zucker / Lucy Williams
|Tel: + 44 20 7469 0930
|Walbrook PR Ltd
|Tel: +44 20 7933 8787
|Mob: +44 7980 541 893