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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Veltyco Group Plc | LSE:VLTY | London | Ordinary Share | IM00BYT32K14 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.40 | 8.00 | 8.80 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMVLTY
RNS Number : 5817U
Veltyco Group PLC
01 April 2019
1 April 2019
Veltyco Group plc
("Veltyco", the "Company" or the "Group")
Directors' Loans to the Company and update on launch of own regulated brand
Veltyco Group plc (AIM: VLTY), the online marketing company for the gaming industry, announces that it has entered into separate loan agreements with three of its directors, being Paul Duffen, Marcel Noordeloos and Mark Rosman, pursuant to which each director will provide a loan of EUR166,667 to the Company, totalling EUR500,000, which will be used to provide additional working capital to the Group (the "Loans"). The Loans, which are unsecured, are for a term of three years and will accrue interest at 5% per annum over the term of the Loans. The Loans can be repaid on or before 31 March 2022 at the Company's election.
Mark Rosman, Paul Duffen and Marcel Noordeloos as directors of the Company are deemed to be related parties of the Company pursuant to the AIM Rules for Company's ("AIM Rules") and the Loans are therefore related party transactions for the purposes of Rule 13 of the AIM Rules. Rainer Lauffs, being the independent director for the purposes of the Loans, considers, having consulted with Strand Hanson Limited, the Company's nominated adviser, that the terms of the Loans are fair and reasonable insofar as Veltyco's shareholders are concerned.
The Nestegg BV, a company wholly owned by Mark Rosman, has loaned the funds being lent by each of Paul Duffen, Mark Rosman and Marcel Noordeloos to the aforementioned directors to enable them to make the Loans.
Further to the Company's announcement of 31 December 2018, it confirms that whilst it continues to work towards the launch of its own regulated online financial trading brand, the timing of such launch is currently not certain. The Company will keep shareholders updated in this regard as appropriate.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Veltyco Group Plc +44 (0)1624 605 764
Paul Duffen, Chairman
Marcel Noordeloos, Chief Financial Officer
Strand Hanson Limited (Nominated Adviser) +44 (0)20 7409 3494
James Harris / Richard Tulloch / James Dance
Whitman Howard Ltd (Broker) +44 (0)20 7659 1234
Nick Lovering / Christopher Furness
IFC Advisory (Financial PR & IR) +44 (0)20 3934 6630
Graham Herring / Miles Nolan / Zach Cohen
About Veltyco
Veltyco is a group of companies focused on generating marketing leads and entering into marketing contracts for the activities of various partners in the gaming industry as well as operating its own brands. Veltyco focuses on complementary activities under one umbrella, leveraging its historical cash generative activities of marketing online casinos and sports betting.
Website: www.veltyco.com
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.
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(END) Dow Jones Newswires
April 01, 2019 02:00 ET (06:00 GMT)
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