Early Equity Plc - Issue of Equity and Strategic Investment
PR Newswire
London, December 2
3 December 2020
Early Equity PLC
("Early Equity" or the "Company")
Issue of Equity and Strategic Investment
Early Equity Plc (AQSE: EEQP), is pleased to announce that it has raised £83,296 by way of a subscription for 16,659,200 new ordinary shares of 0.1p at a price of 0.5p per share ("the Subscription"). The proceeds of the Subscription will be used to provide the Company with additional working capital.
The Company incurred expenses in connection with the Subscription of £4,164.80 which have been settled by the issue of 832,960 new ordinary shares of 0.1p.
As a result, the Company has issued a total of 17,492,160 new ordinary shares and application will be made for them to be admitted to trading on AQSE, which is expected to be on or around 8 December 2020.
The new ordinary shares will rank pari passu with the existing ordinary shares of the Company. Following the issue of the new ordinary shares, the Company's issued share capital will comprise 997,718,684 ordinary shares of 0.1p (including the 17,492,160 new ordinary shares).
The above figure of 997,718,684 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Further to the announcement on 21 October 2020, the Company has increased its strategic investment in Lotto Studios Limited ("Lotto Studios") by acquiring a further 17,606 ordinary shares representing 2% of Lotto Studios issued share capital, for the sum of £100,000. The Company's total stake in Lotto Studios is now 26,409 shares representing 2.94% of its issued share capital.
Greg Collier, Chairman commented: "We are delighted to have increased our holding just as Lotto Studios is getting ready to launch its initial gameshow-branded social and real money games in Q1 of 2021, with two further launches expected later in 2021. We look forward to working more closely with the Lotto Studios team as the relationship between the two companies develops.
This announcement contains information which, prior to its disclosure, was inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of Early Equity Plc accept responsibility for this announcement.
Enquiries:
Early Equity Plc
Greg Collier
Tel: +44 (0)7830 182501
Novum Securities Limited
AQSE Corporate Adviser
David Coffman / Daphne Zhang
Tel: +44 (0)207 399 9400
About Early Equity plc:
Early Equity is an e-commerce focused group based in Malaysia whose Ordinary Shares are admitted to trading on the AQSE Growth Market in London with the trading symbol EEQP.
