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GROW Molten Ventures Plc

238.00
5.60 (2.41%)
Last Updated: 11:51:54
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Molten Ventures Plc LSE:GROW London Ordinary Share GB00BY7QYJ50 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  5.60 2.41% 238.00 237.80 238.00 240.00 228.00 240.00 255,613 11:51:54
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services -215.7M -243.4M -1.5909 -1.49 362M

Draper Esprit PLC Forward share sale of Zynga Inc stock (5442X)

01/09/2020 7:00am

UK Regulatory


Molten Ventures (LSE:GROW)
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TIDMGROW

RNS Number : 5442X

Draper Esprit PLC

01 September 2020

1 September 2020

Draper Esprit plc

("Draper Esprit", "the Group" or the "Company")

Forward share sale of Zynga Inc ("Zynga") stock

Draper Esprit (LSE: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, today announces the forward share sale of its stock in Zynga, a global leader in interactive entertainment, for approximately GBP47 million in cash.

In July, Zynga completed its acquisition of Draper Esprit portfolio company Peak Games, the Istanbul-based creator of Toon Blast and Toy Blast, paying for all of the issued and outstanding common shares in approximately equal proportions of cash and Zynga common stock.

As previously announced the anticipated fair value of the Peak Games sale is approximately GBP88 million and the Company received the initial cash proceeds (net of escrow balances) of approximately GBP39 million in July. As a result of the forward share sale, which was undertaken with a global investment bank, Draper Esprit will receive approximately GBP44 million of the value of the share consideration in cash in the coming week. The remaining portion is anticipated to be released at the end of the original lock-up period in January 2021.

Net cash balances (net of GBP35 million current drawn debt) upon receipt of these funds will be approximately GBP60 million.

Martin Davis, Chief Executive Officer of Draper Esprit, commented:

"We are pleased to have entered into this forward share sale as a means to realise the full cash value for shareholders from Peak Games significantly ahead of the original timeline. This provides us with even greater firepower to invest in exciting high growth technology businesses today."

-ENDS-

Enquiries:

 
Draper Esprit plc 
 Martin Davis (Chief Executive Officer) 
 Ben Wilkinson (Chief Financial Officer)   +44 (0)20 7931 8800 
Numis Securities 
 Nominated Adviser & Joint Broker 
 Simon Willis 
 Richard Thomas 
 Jamie Loughborough                        +44 (0)20 7260 1000 
Goodbody Stockbrokers 
 Euronext Growth Adviser & Joint Broker 
 Don Harrington 
 Charlotte Craigie 
 Dearbhla Gallagher                        +44 (0) 20 3841 6202 
Powerscourt 
 Public relations 
 Elly Williamson 
 Donjeta Miftari                           +44 (0)7970 246 725 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFLFFDTIILVII

(END) Dow Jones Newswires

September 01, 2020 02:00 ET (06:00 GMT)

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