30th May 2006 07:03
ukbetting PLC30 May 2006 30 May 2006 ukbetting plc Exercise of Founder Shareholder Warrants Founder directors significantly increase their holding in the company through £5.5 million investment ukbetting plc (UKB.L), ("the Company") the online sports content and gamingcompany, announces that Peter Dubens, Chairman of the Company, will beexercising 9,280,000 founder shareholder warrants over ordinary shares of 1peach in the Company ("Ordinary Shares") at an exercise price of 25p per OrdinaryShare, granted for co-founding the Company in 2001. The transaction will becompleted by the end of June 2006. Mr Dubens has also taken up the FurtherSubscription Rights to Ordinary Shares attached to these founder shareholderwarrants amounting to 1,160,000 Ordinary Shares at an exercise price of 25p. MrDubens' further investment in the Company as a result of these transactionsamounts to £2.61 million. Following these transactions, Mr Dubens will have increased his interest in theCompany from 2,794,571 Ordinary Shares (representing 2.4% of the Company'sissued share capital) to 11,084,571 Ordinary Shares (representing 8.1% of theCompany's issued share capital). He also holds options over 770,270 OrdinaryShares (representing 0.6% of the Company's issued share capital). The Company also announces that Eric Semel, Chief Executive of the Company, willbe exercising 10,400,000 founder shareholder warrants at an exercise price of25p per Ordinary Share. Mr Semel has also taken up the Further SubscriptionRights to Ordinary Shares attached to these founder shareholder warrantsamounting to 1,300,000 Ordinary Shares at an exercise price of 25p, granted forco-founding the Company in 2001. The transaction will be completed by the endof June 2006. Mr Semel's further investment in the Company as a result of thesetransactions amounts to £2.95 million. Following these transactions, Mr Semel will have increased his interest in theCompany from 2,646,100 Ordinary Shares (representing 2.3% of the Company'sissued share capital) to 12,196,100 Ordinary Shares (representing 8.9% of theCompany's issued share capital). He also holds options over 1,520,270 OrdinaryShares (representing 1.1% of the Company's issued share capital). Following the exercising of these warrants, the net cash balance of the Companywill stand at £12.5 million. -ends- For further information contact: ukbetting plcPeter Dubens, Chairman 020 7766 6909 Financial DynamicsEdward Bridges / Juliet Clarke / Hannah Sloane 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
365.L