31 August 2016
Stride Gaming plc
("Stride Gaming", or the "Company")
Completion of Acquisitions of 8Ball, Netboost Media and the Tarco Assets
Further to the Company's announcements on 29 July 2016 and 23 August 2016, Stride Gaming plc (AIM: STR), the multi-branded online gaming operator, is pleased to announce the completion of the acquisitions of 8Ball, Netboost Media and the Tarco Assets.
The Company has allotted and issued 3,219,500 new Ordinary Shares as part of the initial consideration payable under the Tarco Acquisition and these Tarco Initial Consideration Shares have today been admitted to trading on AIM. Accordingly, following completion of the Placing on 23 August 2016 and the issue of the Tarco Initial Consideration Shares, the Company now has 66,520,084 Ordinary Shares in issue with voting rights. This figure may be used by the Company's shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules. The Company does not hold any shares in treasury.
Eitan Boyd, Chief Executive of Stride Gaming, commented:
"This has been an exceptional period for the Group and the completion of these acquisitions will see us continue to build critical scale to become the largest online bingo operator who has its own proprietary software and, importantly, the fourth largest online bingo operator in the UK. These acquisitions will increase our number of brands to 105, taking our share of the UK online bingo market by number of sites from 2% to over 25%.
"We are incredibly proud of our achievements to date since joining AIM in May 2015. We have continued to deliver on our stated growth strategy, which was to take advantage of the consolidation in the gambling sector by expanding organically and through undertaking selective strategic acquisitions. We have consistently proven our ability to integrate companies into the Group and generate value for shareholders.
"As many operators in the gambling sector continue to struggle in the face of renewed pressure from higher taxes and increased regulation, we in contrast are in a stronger position than ever to realise value and deliver synergies from these acquisitions.
"To this end, we remain focused on building Stride Gaming into the market leader in the soft gaming vertical of the online gaming industry. We will continue to eye opportunities to undertake further acquisitions whilst maintaining our robust organic growth. We look forward to updating the market on our progress in due course."
All terms in this announcement have the meaning given to them in the announcement made by the Company at 7.00 a.m. on 29 July 2016 unless otherwise defined herein.
For further information on the Company, visit www.stridegaming.com
Stride Gaming plc
Nigel Payne (Non-Executive Chairman)
Eitan Boyd (Chief Executive Officer)
Ronen Kannor (Chief Financial Officer)
+ 44 (0) 20 7284 6080
Canaccord Genuity Limited
(Nominated Adviser, Joint Bookrunner and Joint Broker)
+44 (0) 20 7523 8000
(Joint Bookrunner and Joint Broker)
+44 (0) 20 7408 4090
Yellow Jersey PR
Alistair de Kare-Silver
+44 (0) 7825 916 715
+44 (0) 7748 843 871
This information is provided by RNS