WEBIS HOLDINGS PLC
(“Webis” or “the Company”)
Issue of Equity
The board of Webis announces that it has today raised £800,000 of additional funding via the issue of 26,666,666 new ordinary shares (“Ordinary Shares”) in the Company at a price of 3 pence per new Ordinary Share. The subscriber is Forest Nominees Limited (“Forest”).
The proceeds will be used for working capital to acquire relevant US licences on behalf of Watch and Wager LLC, the US subsidiary of the Company’s EWS pari-mutuel operation, supporting its existing on and offline strategies and to enhance betinternet’s fixed odds website and hardware and, in particular, further develop the ‘In Play’ offering to customers.
Application will be made for the admission of the 26,666,666 new Ordinary Shares to trading on the AIM Market of London Stock Exchange plc. It is expected that admission will become effective and dealings will commence in the new Ordinary Shares on 24 January 2013.
On admission to trading of the 26,666,666 new Ordinary Shares, the Company will have 393,338,310 Ordinary Shares with voting rights in issue. Following the Placing, the Company has been informed by Forest that its client, Panetta Partners Limited, is indirectly interested in 29,318,332 Ordinary Shares, representing 7.5% of the Company’s enlarged issued share capital.