Successful Completion of Share Purchase Plan
Animoca Brands successfully raised $1m via its Share Purchase Plan (SPP)
Applications for the SPP significantly greater than $1m, resulting in scale backs
Represents strong support from shareholders and confidence in the Company’s strategy
Funding to accelerate expansion of brand portfolio, development of new apps and digital entertainment opportunities in the children’s sector
Hong Kong – 9 May 2016 - Animoca Brands (ASX: AB1, “The Company”) is pleased to announce the results of its Share Purchase Plan (SPP), that closed on 6 May 2016, 5:00pm (Sydney time), raising $1m.
The Company sought to raise up to $1 million under the SPP. The SPP was not underwritten, and the Company received offers far in excess of the original target. As a result, a scale back was required. Under the SPP, 5 million shares will be placed at $0.20 per share, the same price as the Company’s recent Institutional Placement, which raised a total of $6.5m.
All shares will be allotted on the 13 May 2016, with the dispatch of holding statements and quotation on the 16 May 2016.
Funds raised from the Placement and SPP will be used to meet working capital requirements and for strategic growth opportunities, including expediting the development of e-books and the development of new entertainment products in the ever growing children’s entertainment sector. The Company continues the ongoing expansion of its brand and app portfolios, with a focus on revenue enhancing games.
Robby Yung, CEO, Animoca Brands commented:
“The interest in the SPP demonstrated the strong support from our shareholders and I am delighted that so many took the opportunity to invest. In addition to the Placement capital, the funding from the SPP provides us the ability to accelerate the development of new products, including children’s entertainment products, e-books, and the expansion of our app portfolio to drive growth in our user base. I want to take this opportunity to thank all our shareholders for their support.”
About Animoca Brands
Animoca Brands publishes globally a broad portfolio of mobile games, including several games based on popular intellectual properties such as Garfield, Thomas & Friends™, and Ultraman. Animoca Brand’s games have been downloaded over 200 million times and are growing at 8+ million downloads per month. Animoca Brands is based in Hong Kong. For more information visit www.animocabrands.com.