9th Jun 2016 17:14
LONDON (Alliance News) - Gaming Realms PLC on Thursday said it has allotted 4.8 million new shares to meet the final GBP1.2 million share element of the payment for the acquisition of BlueBurra Holdings announced in August 2014 and pursuant to a subsequent deed of variation dated March 2016.
The shares were issued to the former shareholders of BlueBurra, whhich has met "certain financial and strategic milestones since its acquisition and the final earn-out condition has now been satisfied", Gaming Realms said.
"All former BlueBurra shareholders who are issued the consideration shares will be subject to lock-up agreements pursuant to which they will not be able to sell such shares (subject to customary carve-outs) for a period of 12 months following admission," Gaming Realms said.
Shares in Gaming Realms closed up 4.0% at 20.80 pence Thursday.
By Samuel Agini; [email protected]; @samuelagini
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