Placing and Investment Strategy

02 October 2019

YOLO is pleased to announce the placing of 30,000,000 new ordinary shares of 0.01p each ("Placing") to raise £750,000 (before expenses) at an issue price of 2.5p per share ("Placing Shares"). Under the Placing, each placee will also receive one warrant for every two Placing Shares subscribed for as part of the Placing, exercisable at 6.0p per share ("Warrants") at any time from the date of issue up to 31 October 2020.

Details of the Placing

The Placing is to take place in two tranches, one of which will be completed on 11 October 2019 and the second on a deferred basis to be completed on or before 31 December 2019.

Tranche 1

The £500,000 subscription monies payable for 20,000,000 of the Placing Shares ("Tranche 1 Placing Shares") are payable on 11 October 2019. The Tranche 1 Placing Shares will be issued to investors introduced to the Company by Chris Akers. Application will be made to the London Stock Exchange for the Tranche 1 Placing Shares to be admitted to trading on AIM and it is expected that admission of those Placing Shares will become effective on or around 11 October 2019.

Tranche 2

A binding subscription commitment has been made by Chris Akers for the balance of 10,000,000 Placing Shares ("Tranche 2 Placing Shares"). The settlement date for the deferred subscription is 31 December 2019. The Tranche 2 Placing Shares and the associated Warrants will only be issued upon settlement of the £250,000 placing monies payable for such shares. A further announcement will be made to confirm completion of the Tranche 2 Placing and the dates of settlement and allotment of such Placing Shares.

Introducer Warrants

In addition to the Warrants to be issued to placees, the Company has agreed to issue 2,500,000 warrants (on the same terms as the Warrants issued to placees) to Chris Akers in lieu of a cash fee relating to the Placing.

Total Voting Rights

The Tranche 1 Placing Shares will rank pari passu with the existing ordinary shares in YOLO in all respects. Following the admission of the 20,000,000 Tranche 1 Placing Shares on 11 October 2019, the total issued share capital of the Company will be 72,132,276 ordinary shares, each with voting rights. 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.

Investment Strategy

The board of directors has conducted a review of the Company's investment strategy. One outcome of that review is that the board has decided that, in the light of the current market conditions and pipeline opportunities, within the scope of its current investment strategy it should give particular focus to technology opportunities in the fields of big data, machine learning, telematics and the internet of things (IoT).

The Company's directors recognise that in order to successfully implement this investment strategy the board structure needs to be strengthened. Consequently, a process to identify new directors with more specialist sector experience has commenced and the directors are confident that in the near term new appointments will be finalised.

Simon Robinson said "The YOLO board has been evaluating various strategic options to optimise value creation in the best interests of all shareholders. We believe that now is the right time to undertake a strategic review to ensure that YOLO is best placed to capitalise on exciting future opportunities. We look forward to updating shareholders to that effect in the near future."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.



YOLO Leisure and Technology plc  
Simon Robinson [email protected]
Cairn Financial Advisers LLP  
Sandy Jamieson, Liam Murray Tel: +44 20 7213 0880
Peterhouse Capital Limited  
Duncan Vasey / Lucy Williams Tel: +  44 20 7220 9797
Walbrook PR Ltd Tel: +44 20 7933 8787 or  data-sf-ec-immutable="">
Paul McManus Mob: +44 7980 541 893
Sam Allen Mob: +44 7884 664 686