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.

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Source: Alliance News

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