Placing

27 Jan 2006 07:01

ukbetting PLC27 January 2006 27 January 2006 ukbetting plc Placing ukbetting plc, ("ukbetting" or the "Company") the online sports content andgaming company, announces a placing of up to 19,166,667 ordinary shares at aprice of 60p per share to raise up to £11.5 million, before expenses, for theCompany (the "Placing"). The funds raised through the Placing will be used toaccelerate the development of ukbetting's content network to enable theprovision of new, sophisticated modes of advertising and video streaming, aswell as allow for the provision of multi-lingual content. The Company has entered into a placing agreement with Collins Stewart Limited ("Collins Stewart"), under which Collins Stewart has agreed to use its reasonableendeavours to procure placees for the new ordinary shares to be issued under thePlacing. The Placing is subject to, inter alia, the new ordinary shares beingadmitted to trading on AIM. The new ordinary shares will rank pari passu in allrespects with existing issued ordinary shares in ukbetting. Admission of the newordinary shares is expected to become effective at 8.00 am on 2, February 2006. -ends- ukbetting plc 020 7766 6909Peter Dubens, Chairman Collins Stewart 020 7523 8350Stephen Keys Financial Dynamics 020 7831 3113Juliet Clarke / Edward Bridges / Hannah Sloane This information is provided by RNS The company news service from the London Stock Exchange