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PR: BETCORP ANNOUNCES SHARE PLACING

Discussion in 'Casino Industry Discussion' started by Casinomeister, Mar 21, 2006.

    Mar 21, 2006
  1. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    BETCORP ANNOUNCES SHARE PLACING

    Betcorp Limited, (Betcorp or the Company) the online betting and gaming operator, is pleased to announce it has conditionally placed, in aggregate, 1,600,000 new ordinary shares of zero nominal value (the Placing Shares) at a price of 2.25 per Placing Share. Once completed, the Placing will raise approximately 3.4m (net of expenses).

    The Placing Shares will be placed with UK institutional and other investors. Dealings in the Placing Shares are expected to commence on AIM at 8.00 a.m. on 24 March 2006.

    The Placing Shares are equivalent to approximately 8.2% per cent. of the Companys existing issued ordinary share capital, and when issued, will represent approximately 7.5% per cent. of the Companys enlarged issued share capital.

    The funds raised will be used for general corporate and working capital purposes.

    KBC Peel Hunt is acting as nominated adviser and broker to Betcorp.

    Commenting, Betcorp CEO Colin Walker said:

    We are delighted to be welcoming new shareholders on board so soon after our successful dual listing on AIM. While we are only raising limited funding at this stage, broadening our shareholder base was one of the primary reasons for coming to London and we expect it to be a major benefit going forward as we execute our strategy.

    21 March 2006

    Enquiries:

    Colin Walker, Chief Executive Officer 020 7457 2020
    Matt Goode, KBC Peel Hunt 020 7418 8900
    Tom Baldock, College Hill Associates 020 7457 2020
    Martin Cole, CPR Communications, Sydney +61 2 9252 6644
     

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