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Gaming Realms PLC announces acquisition of Quick Think Media Ltd and placing


Wednesday, 11 Dec 2013 02:00am EST 

Gaming Realms PLC:Says it has acquired specialist marketing agency Quick Think Media Ltd (QTM) for a total consideration of about 2.2 million pounds (the Acquisition).Says in addition it has conditionally raised about 2.4 million pounds through the proposed placing of 11,476,190 new ordinary shares at 21 pence per share (Placing Shares) with new and existing shareholders (the Placing).Says QTM is a specialist online gaming marketing agency, focused on online bingo and casino products.Says the acquisition of QTM supports its strategy to establish itself within the bingo and casino segment of the social gaming market, as well as launch real money bingo and casino games in the UK regulated market.Says the aggregate consideration in respect of the Acquisition is 2,220,850 pounds comprising 1,470,850 pounds in cash and a deferred payment of 3,571,428 new ordinary shares (Consideration Shares) being the equivalent of about 750,000 pounds.Says the Placing will represent 7.3 percent of the company's enlarged share capital.Says pursuant to the Placing, application has been made for the Placing Shares, which will rank pari passu in all respects with the company's existing ordinary shares, to be admitted to trading on AIM (Admission).Says admission is expected to be effective on Dec. 16. 

Company Quote

33.5
0.25 +0.78%
24 Dec 2014