For release: 07.00, 23 August 2021
B90 Holdings plc
("B90", the "Company" or "Group")
Affiliate Agreement signed with Nordic Group
B90 Holdings plc (AIM: B90), the online marketing and operating company for the gaming industry, announces that it has signed an affiliate marketing agreement with Nordic Group ltd ("Nordic"), a leading marketing and online advertising partner, with a focus on Latin America and the Nordics, to promote all its sportsbook and online casino services in various territories. The affiliate deal covers all current and future Bet90 brands and subsidiaries and Nordic will commence promotional activities immediately.
Nordic has an established and extensive marketing network in various countries and uses a mix of content such as blogs and websites sharing tips and strategies, and reviews, as well as news and information about offerings, schemes and products, across a variety of on-line and social media. They also employ the latest search engine optimisation and digital promotion techniques.
B90 will pay Nordic an initial Affiliate Fee (the "Initial Affiliate Fee") amounting to €150,000, which will be settled in new Ordinary Shares on 30 November 2021. The total number of new Ordinary Shares to be issued in satisfaction of the Initial Affiliate fee will be calculated based on the average closing mid-market price of B90's Ordinary Shares over the five dealing days ending on 30 November 2021 rounded upwards to the nearest whole new Ordinary Share and on the then prevailing exchange rate.
Issue of the new Ordinary Shares is conditional on Nordic generating a minimum of €75,000 ("minimum criteria") in new revenue for the Company by 30 November 2021, with the option to amend the agreement and the number of new Ordinary Shares to be issued if the minimum criteria is not met. Thereafter, the agreement reverts to a typical affiliate deal with payment based on the amount of traffic and new customer revenue generated from Nordic's network.
Further share based payments will become due on 28 February 2022, 31 May 2022 and 31 August 2022 ("payment dates"), converting the actual affiliate fee earned in excess of the first €150,000 into shares based on the average closing mid-market price of B90's Ordinary Shares over the five dealing days leading up to each of the payment dates. The maximum amount that can be converted into equity is capped at €400,000, with any amount in excess to be setted in cash.
Commenting, Paul Duffen, executive Chairman said:
"As previously stated our strategy is to build our brand, customer and ultimately revenue base into new geographies, using a mix of both affiliates and direct marketing. Nordic is a great affiliate partner for us in these territories, given it has an excellent established network. The agreement has been structured to mitigate risk and preserve initial cash outlay, whilst maximising potential future cash generation for the Company and incentivise the affiliate. We look forward to working with Nordic across our on-line real estate to enter into new and profitable markets."
Commenting, Håvard Lehn, CMO of Nordic Group said:
"By partnering with Bet90 we are following our business development strategy. We know that our traffic will be a perfect match for this partner and the incentives to send traffic are there for us to prioritize their brands. We are enthusiastic to become shareholders in B90 Holdings plc."
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018
For further information please contact:
B90 Holdings plc +44 (0)1624 605 764
Paul Duffen, Executive Chairman
Marcel Noordeloos, Chief Financial Officer
Strand Hanson Limited (Nominated Adviser) +44 (0)20 7409 3494
James Harris / James Dance / Rob Patrick
Whitman Howard Ltd (Broker)
Belvedere (Financial PR & IR) +44 (0)20 3687 2754
John West / Llewellyn Angus
About B90 Holdings plc
B90 Holdings plc is a group of companies focused on the operation of its own online Sportsbook and Casino product as well as marketing activities for other online gaming companies.