Completes $50million Placement
ASX:BET) (FRA:T07) is pleased to announce that the Company has completed the issue and allotment of 83,333,334 fully paid ordinary shares ("Placement Shares") to raise A$50 million (before costs) at A$0.60 per Placement Share from sophisticated and institutional investors ("Placement"). The Placement Shares have been issued without a disclosure document in accordance with section 708 of the Corporations Act 2001 (Cth) (Act) and were issued under the Company's placement capacity under ASX Listing Rule 7.1A and 7.1.
The shares issued under the Placement were issued as follows:
- 23,283,150 shares were issued under the Company's 15% placement capacity under ASX Listing Rule 7.1; and
- 60,050,184 shares were issued under the Company's additional 10% placement capacity under ASX Listing Rule 7.1A.
Funds received from the Placement, in conjunction with existing cash, will be used to fund the Company's acquisitions of the Racing and Digital assets of leading international online sports betting company Sportech PLC (refer to the Company's ASX announcement dated 2 December 2020 for further details).
Separately, the Company is currently in negotiations of commercial terms with several operators. While the Company is currently unable to determine the materiality of such negotiations, the Company will notify the market of such transactions in due course in accordance with its continuous disclosure obligations.
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.
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