YOLO Leisure & Technology PLC Further Issue of Equity (5006O)

TIDMYOLO

RNS Number : 5006O

YOLO Leisure & Technology PLC

07 November 2016

YOLO Leisure and Technology plc

("YOLO" or the "Company")

Additional Placing

Further to the announcement released earlier today, the Company announces that it has raised a further GBP40,000 by means of a placing of 4 million new ordinary shares of 1p each in YOLO at a price of 1.0p per share with Simon Robinson, Chief Executive Officer of the Company ("Additional Placing Shares"). As part of the placing, the Company has also issued 800,000 warrants to Mr Robinson to subscribe for new ordinary shares in YOLO at 1.3p per share ("Warrants"), on the basis of one warrant for every five Additional Placing Shares acquired.

In addition, a further 9,000,000 warrants at 1.3p have been awarded to Simon Robinson and can be exercised up to October 2019 from the date of this transaction ("Director Warrants").

Mr Robinson's participation in the Placing and resultant interests are as follows:

 
 Director                 Acquired               Resultant beneficial interest 
----------------  -----------------------  ----------------------------------------- 
                   Additional   Warrants     Ordinary    % of enlarged     Warrants 
                     Placing                  shares      share capital 
                     Shares 
----------------  -----------  ----------  -----------  ---------------  ----------- 
 Simon Robinson     4,000,000   9,800,000   11,260,432             2.55   14,661,538 
----------------  -----------  ----------  -----------  ---------------  ----------- 
 

Mr Robinson's participation in the Placing and the issue to him of the Director Warrants are considered to be related party transactions under the AIM Rules for Companies. Sohail Bhatti, Finance Director, having consulted with the Company's Nominated Adviser, considers that the terms of participation of Mr Robinson in the Placing and the Director Warrants are fair and reasonable in so far as the Company's shareholders are concerned.

Application has been made for the Additional Placing Shares to be admitted to trading on AIM. Admission is expected to occur on or around 8 November 2016. The Additional Placing Shares will rank pari passu with the existing ordinary shares.

Following the Admission of all the Placing Shares from both placings announced today and the Adviser Shares, the total issued share capital of the Company will be 441,322,758 ordinary shares, each with voting rights. The above figure 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 Disclosure and Transparency Rules.

--ENDS-

For further information please contact:

 
 YOLO Leisure and Technology plc 
 Simon Lee Robinson                     [e-mail] 
 
 Cairn Financial Advisers LLP 
 Sandy Jamieson, Emma Earl                   Tel: [phone] 
 
 Peterhouse Corporate Finance Limited       Tel: + 44 20 7213 0930 
  (Sole broker) 
  Eran Zucker / Lucy Williams 
 
 Walbrook PR Ltd                          Tel: [phone] or 
                                               [e-mail] 
 Paul McManus                                Mob: [phone] 
 Sam Allen                                   Mob: [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 07, 2016 05:54 ET (10:54 GMT)