James van den Bergh of Trufin: Fundraise will unlock significant value in Playstack
Episode 1531, Jul 12, 2023, 06:48 AM
James van den Bergh, Chief Executive Officer of Trufin #TRU discusses their recent fundraise which enables them to develop and license sequels to the hit game Mortal Shell, which sold one million units and generated revenue of over £15m since its launch in 2020. Mortal Shell 2 & 3 are expected exceeed these sales and therefore unlock significant value.
Placing and Open Offer Highlights
· Proposed Placing of £7m (before expenses) to certain institutional investors and other existing shareholders at the Issue Price.
· Open Offer of up to approximately £1m (before expenses) to Qualifying Shareholders at the Issue Price.
· Issue Price of 65 pence per New Ordinary Share represents a discount of 4.4% to the closing mid-market price of the Company's Existing Ordinary Shares on 21 June 2023, the latest practicable date prior to this Announcement.
· The net proceeds of the Placing and Open Offer will be used to invest in Playstack to secure the Mortal Shell franchise (see further detail below) and provide working capital to the Company.
· Major shareholder, Gresham House Asset Management has indicated its intention to materially participate in the Placing.
To read the full RNS click here
Placing and Open Offer Highlights
· Proposed Placing of £7m (before expenses) to certain institutional investors and other existing shareholders at the Issue Price.
· Open Offer of up to approximately £1m (before expenses) to Qualifying Shareholders at the Issue Price.
· Issue Price of 65 pence per New Ordinary Share represents a discount of 4.4% to the closing mid-market price of the Company's Existing Ordinary Shares on 21 June 2023, the latest practicable date prior to this Announcement.
· The net proceeds of the Placing and Open Offer will be used to invest in Playstack to secure the Mortal Shell franchise (see further detail below) and provide working capital to the Company.
· Major shareholder, Gresham House Asset Management has indicated its intention to materially participate in the Placing.
To read the full RNS click here