Fitbug Holdings PLC Completion of Placing (0173V)

TIDMFITB

RNS Number : 0173V

Fitbug Holdings PLC

25 January 2017

Fitbug Holdings Plc / Epic: FITB.L / Index: AIM / Sector: Leisure

RNS announcement:

25 January 2017

FITBUG HOLDINGS PLC ('FITBUG' OR 'THE COMPANY')

Completion of placing

Fitbug Holdings Plc, the AIM quoted digital wellness technology provider for corporate organisations, is pleased to announce that it has successfully completed, subject only to Admission, a cash placing to raise GBP1,000,000 (before costs) from the issue of 500,000,000 new ordinary shares of 0.1p each ("New Ordinary Shares") at a subscription price of 0.2 pence per share (the "Placing").

Application will be made to admit the New Ordinary Shares to trading on AIM. Admission is expected to take place on 2 February 2017.

The Company intends to use the funds raised from the Placing for general corporate purposes.

Following Admission the total issued share capital of the Company will consist of 1,731,366,968 ordinary shares. As such the total number of voting rights in the Company will be 1,731,366,968 ordinary shares. This number 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 FCA's Disclosure and Transparency Rules.

Fitbug CEO Anna Gudmundson said: "We are pleased to have raised these additional funds at this time. We have made good progress with the development and sales of our digital wellness programmes in pursuit of our service based strategy to focus on corporate wellness. We believe that our prospects for 2017 are positive and we are now looking for opportunities to accelerate our growth strategy."

The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

**ENDS**

For further information visit www.fitbugholdings.com

Contact:

 
 Anna Gudmundson        Fitbug Holdings 
  / Donald Stewart       Plc                    020 7449 4949 
                        SPARK Advisory 
 Mark Brady / Neil       Partners Limited 
  Baldwin                (Nominated Advisor)    020 3368 3551 
 Claire Louise Noyce 
  / William Lynne       Hybridan LLP, 
  / Niall Pearson        Broker                 020 3764 2341 
                        T/F/D, Public 
  Stephanie Forrest      Relations              07917 695755 
 

Notes

About Fitbug(R)

Fitbug provides digital wellness solutions that empower employers to create a positive culture of health within their organisation. By helping employees to embrace a healthier way of living, Fitbug can help maximise performance, reduce absenteeism, decrease the risk of chronic illness, and lower healthcare costs.

The Company's technological edge allows it to address holistic wellness by engaging both individuals and teams through intelligent, personalised interaction and gamification. This is an opportunity to make incremental behavioural changes that will last a lifetime. The progress of individuals translates to actionable data, meaningful reporting and insights that allow the organisation to monitor the impact of the programme and to refine it in order to achieve success.

Fitbug's shares are quoted on the London Stock Exchange AIM market under ticker FITB.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 25, 2017 02:00 ET (07:00 GMT)