LONDON, UK: B90 Holdings plc (AIM: B90), the online marketing and operating company for the gaming industry, has entered into an agreement to acquire, through a wholly owned subsidiary, the remaining 49% of T4U Marketing Ltd, which operates the website tippen4you.com.
B90 currently holds a 51% equity interest in T4U, acquired in April 2017, and therefore after completion of the Acquisition will hold a 100% interest in T4U.
Tippen4you.com is an established and fully operational website and a forum platform focused on the German market. It earns revenues by entering into affiliate agreements with operators who are active in the German market, one of the largest and most developed online gambling markets in Europe.
The consideration for the Acquisition will be satisfied by the issue of 500,000 new ordinary shares of no par value in the capital of the Company (“Ordinary Shares”) (the “Consideration Shares”). Based on the closing mid-market price per Ordinary Share on 20 June 2022, being the latest practicable date prior to this announcement, the value of the Consideration Shares is £23,750.
The Consideration Shares will rank pari passu in all respects with the existing Ordinary Shares in issue at the time such shares are issued. The vendor of T4U has agreed to a 12-month lock-in period in relation to the Consideration Shares, which limits it to disposing of a maximum of 50,000 Ordinary Shares per month.
Commenting on the Acquisition, Karim Peer, Executive Chairman, said: “Tippen4you.com is currently a relatively small business, but it has substantial potential and it carries great strategic importance for us. The acquisition reinvigorates the affiliate side of our business and gives us a strong foothold in Germany, where our operating brands currently do not have a presence, enabling us to earn revenues from one of the largest European markets.”