$10million SPP to Open 5 January 2021
- BetMakers to launch previously announced non-underwritten Share Purchase Plan to raise up to A$10 million
- Share Purchase Plan to open on Tuesday 5 January 2021 and close at 5:00pm AEDT on Friday 15 January 2021
- Funds raised will be applied toward BetMakers' acquisition of Sportech's Tote and Digital Businesses and for general working capital
Under the SPP, eligible BetMakers shareholders, with a registered address in Australia or New Zealand on the Company's register at 7.00pm AEDT (Sydney time) on 30 November 2020, have the opportunity to participate in the SPP by subscribing for up to $30,000 of new shares ("SPP Shares") across all their holdings regardless of how many shares they currently hold, free of any brokerage, commission and transaction costs. BetMakers intends to raise a maximum of $10 million under the SPP, however, the Company reserves the right to accept oversubscriptions in its discretion, subject to compliance with any requirements of the ASX Listing Rules and the Corporations Act.
The Issue Price of $0.60 per SPP Share, represents the same price as the Shares issued under the recently completed placement and represents a 6.6% discount to the volume weighted average price of BetMakers Shares traded on the ASX over the last five days on which sales in BetMakers Shares were recorded before 1 December 2020 (being the date the SPP was announced) ($0.64).
The SPP Shares will rank equally with existing BetMakers ordinary shares on issue. Full details of the SPP will be set out in the SPP Offer Booklet, which will be released to the ASX and sent to eligible shareholders on or around 5 January 2020.
The funds raised under both the SPP and the completed Placement will be applied toward BetMakers' acquisition of Sportech's Tote and Digital Businesses. Please see BetMakers' ASX announcements on 1 December 2020 for further details of the acquisition.
To view the timetable, please visit:
About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (FRA:T07) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.
Betmakers Technology Group Ltd