Successful Placement and Issue of Shares
The Company also confirms that it has issued 468,750 shares to Canaccord Genuity (Australia) Limited (Canaccord) in consideration for the services provided by Canaccord to TopBetta in connection with the Placement.
Both the shares issued under the Placement and those issued to Cannacord were issued without a disclosure document in accordance with section 708 of the Corporations Act 2001 (Cth) and were issued under the Company's 15% placement capacity under ASX Listing Rule 7.1.
The Company is extremely pleased that this successful Placement will assist TopBetta's Alderneybased subsidiary, The Global Tote Ltd, to accelerate the recently launched Global Tote product in Australia and internationally as well as provide working capital for the overall business.
The Company's announcement on 11 May 2017 also noted the Company's intention to offer a share purchase plan to all existing shareholders at the record date. In accordance with the ASX Listing Rules, the record date for the SPP was 10 May 2017. Details of the SPP will be released to the market in the coming days.
The Board looks forward to updating the market on further progress in the coming weeks.
About Topbetta Holdings Ltd
TopBetta Holdings Limited (ASX:TBH) 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. TopBetta Pty Ltd operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services. Global Tote Australia Pty Ltd conducts TBH's Wholesale Business, which includes operating and licensing its wholesale tote product which enables licensed wagering operators, including corporate bookmakers and tote operators from all over the world, to participate in global pools. The Wholesale Business is conducted under a B2B licence granted by the UK Gambling Commission to Global Tote Limited, a company incorporated in Alderney, UK.
Topbetta Holdings Ltd