Source - RNS
RNS Number : 9046L
Stride Gaming PLC
06 October 2016
 

 

For immediate release

06 October 2016

 

 

 

Stride Gaming plc

("Stride Gaming", or the "Company")

 

Final Earn-Out Transfer of Shares

and

Issue of Equity

 

Stride Gaming plc (AIM:STR), the multi-branded online soft gaming operator, is pleased to announce that the performance of its wholly owned subsidiary Daub Alderney Limited ("DAL") and DAL's subsidiaries has resulted in it hitting agreed targets set out in the Share Transfer Agreement dated 18 May 2015 between (1) GAL Holdings, (2) GMG, (3) Ukudla and (4) TTE. As a result, on 6 October 2016, GAL Holdings, GMG and Ukudla (being certain members of the GAL Concert Party excluding the Directors of the Company) will transfer, in aggregate, a total of 2,841,880 Ordinary Shares to TTE or Insynergy (as trustee for TTE) for onward distribution to members of the TTE Concert Party in the manner contemplated in the Company's Admission Document dated 18 May 2015 (the "Admission Document"). This represents the second and final transfer of shares pursuant to the Share Transfer Agreement (the "Final Earn-Out Transfer").  

 

In addition, pursuant to the NextTec Software Agreement entered into between DAL and NextTec Software on 4 September 2014 (further details of which are set out in the Admission Document), as a result of targets met under the NextTec Software Agreement, the Company has today issued 846,701 new Ordinary Shares (the "New Ordinary Shares") to members of the TTE Concert Party as nominated by NextTec and set out in the Admission Document. This issue of New Ordinary Shares is in respect of the second anniversary of the NextTec Software Agreement. Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on 11 October 2016.

 

Following the issue of the New Ordinary Shares, there are 67,366,785 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury and therefore this figure may be used by shareholders of 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

Following the Final Earn-Out Transfer and the issue of New Ordinary Shares set out above, the resultant holdings of Ordinary Shares by members of the TTE Concert Party and Original GAL Concert Party respectively are as follows. The number of shares held by the Stride Gaming Directors remains unchanged as a result of the Final Earn-Out Transfer:

 

TTE Concert Party Shareholder

Number of Ordinary Shares

% of issued Ordinary Share

capital

Poppy Investments Limited

9,147,538

13.58%

Hydaco Pty Ltd / Hydaco Holdings Pty Ltd as trustee of Hydaco Holdings Trust

4,210,054

6.25%

Bedell Trustees Limited as trustees of the Blue Rock Trust

8,052,229

11.95%

Bedell Trustees Limited as trustees of the Eagle Eye Trust

2,903,886

4.31%

SMD Development NV

598,731

0.89%

Total for the TTE Concert

Party

24,912,438

36.98%

 

 

 

 

 

Original GAL Concert Party Shareholder

Number of Ordinary Shares

% of issued Ordinary Share

capital

GAL Holdings

16,454,161

24.42%

Eitan Boyd1

2,425,213

3.60%

Darren Sims2

1,083,510

1.61%

Ukudla Commodities3

1,039,273

1.54%

Christo Oosthuizen4

328,047

0.49%

Total for the Original GAL Concert

Party

21,330,204

31.66%

 

1)        Legal title to these shares is held by Guardian Trust Company Limited as trustee for the Alon Trust. The beneficiaries of the Alon Trust are Eitan Boyd, his wife and children.

 

2)        Legal title to these shares is held by Clermont Corporate Services Limited in its capacity as trustee for the Monkey George Trust. The beneficiaries of the Monkey George Trust are Darren Sims, his wife and children.

 

3)        Ultimately owned by Rubin Feldman, the father of Alan Feldman (a consultant to Group companies).

 

4)        Of these shares, 25,000 are held by Christo Oosthuizen in his own name and for the remainder, the legal title is held by (GMG) Geneva Management Group (BVI) Limited.

 

 

Terms used in this announcement but not defined shall have the meanings ascribed to them in the Admission Document which is available on the Group's website: www.stridegaming.com 

 

 

Enquiries:

                  

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 and Joint Broker)

Bruce Garrow

Emma Gabriel

Richard Andrews

 

+44 (0) 20 7523 8000

Shore Capital

(Joint Broker)

Simon Fine

Mark Percy

Toby Gibbs

 

 +44 (0) 20 7408 4090

 

  

Yellow Jersey PR

(Financial PR)

Alistair de Kare-Silver

Felicity Winkles 

 

+44 (0) 7825 916 715

+44 (0) 7748 843 871 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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