News Column

24/7 Gaming Raises GBP360,000 For Possible Reverse Takeover

September 3, 2014

Sam Unsted



LONDON (Alliance News) - 24/7 Gaming Group Holdings PLC Wednesday said it has raised GBP360,000 via a share placing which it said will back a potential reverse takeover.


The gaming company said it raised GBP360,000 via the issue of 10.3 million new shares at 3.5 pence per share, a premium to its closing share price of 3 pence on Thursday. Shares in the company were temporarily suspended prior to the market open on Wednesday.


The group said it is now in advanced talks over a possible deal which would constitute a reverse takeover. The suspension of the shares has been made as the talks continue.


24/7 said the proceeds from the share issue would be used to provide working capital, including the costs of due diligence and advisory fees related to the potential deal.







For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Alliance News


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters