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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Interactive Gam | LSE:IGH | London | Ordinary Share | GB0034347921 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:1122C
Interactive Gaming Holdings PLC
15 August 2007
15 August 2007
Interactive Gaming Holdings Plc
("IGH" or "the Company")
Financial Restructuring
The Company today announces that it has agreed to an interim funding facility of
#400,000 to be provided by General Capital Venture Finance Limited ("GCVF")
("Interim Funding"). The Interim Funding is required by the Company to meet its
near term working capital requirements.
The Interim Funding, along with #450,000 of the #750,000 already loaned to the
Company by GCVF, is expected be converted in due course into two convertible
debt facilities (the "Conversion"). The Conversion will entitle GCVF to warrants
that, if fully exercised, will be highly dilutive to existing shareholders. The
Conversion is subject to shareholder approval at an Extraordinary General
Meeting to be held in due course. The Company will notify the market as
discussions regarding the Conversion proceed.
The Company is currently seeking to strengthen the Board with the appointment of
several new directors with significant industry experience. This will better
place the Company to develop its business going forward.
Thomas Taule, Executive Chairman, commented "This funding shows GCVF's continued
support for and belief in the Company. The IGH Board are examining a number of
interesting opportunities to develop the business going forward".
For further information:
Interactive Gaming Holdings Plc Tel: +44 (0) 20 7745 6278
Thomas J. Taule, Executive Chairman www.igh.com
tom@igh.com
Arbuthnot Securities Tel: +44 (0) 20 7012 2000
Nick Marsh, Corporate Finance www.arbuthnotsecurities.co.uk
About IGH
Interactive Gaming Holdings plc is a leading online sports betting and casino
operator listed on the AIM market of the London Stock Exchange. IGH provides its
customers with a complete gaming experience offering seamless integration
between traditional sports betting and its casino products.
The Group's strategy is to enhance organic growth by focusing on selective
value-enhancing acquisitions within the online sports betting and gaming
sectors. In addition to IGH's existing customer base, the Company is actively
pursuing, under revenue share agreements, white-label opportunities with
significant brand names.
To date, IGH has made two acquisitions, namely Heathorns, the world's oldest
established bookmakers in March 2005, and Premier Bet, a fixed odds bookmaker,
in August 2005. The Company, in accordance with US legislation, does not have
any operations in the US.
Further information on Interactive Gaming Holdings can be found at www.igh.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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