Semper Fortis Esports PLC Issue of Equity (7887X)

TIDMSEMP

RNS Number : 7887X

Semper Fortis Esports PLC

28 April 2023

SEMPER FORTIS ESPORTS PLC

("Semper Fortis Esports" or the "Company")

Subscription to raise GBP100,000, Strategy Update and Total Voting Rights

Semper Fortis Esports PLC (AQSE: SEMP) is pleased to announce that it has raised GBP100,000 before expenses through a subscription ("Subscription") for an aggregate of 100,000,000 new ordinary shares of 0.01 pence par value each at a price of 0.1 pence per share.

The Subscription is conditional, inter alia, on admission of the Subscription Shares (the "New Ordinary Shares") to trading on the AQSE Growth Market ("Admission").

Application will be made for the New Ordinary Shares to be admitted to trading on the Access segment of the AQSE Growth Market and this is expected to occur on or around 4 May 2023.

Strategy Update

On 22 March 2023, the Company announced that its Chief Operating Officer had stepped down as the Board sought to bring costs down as much as possible and to evaluate its strategy going forward. Costs have been brought down to a minimum and following the receipt of the Subscription, the Company will have just over GBP500k of cash and minimal liabilities. The Board believes that the Company is an attractive acquisition vehicle and is therefore exploring a number of options to acquire another business. Such an acquisition would very likely constitute a Reverse Takeover transaction.

The Board looks forward to updating the market on any material progress in this regard and any such acquisition would require the consent of our shareholders.

Total Voting Rights

Following Admission of the New Ordinary Shares, the Company's issued ordinary share capital will consist of 515,499,800 ordinary shares of 0.01 pence each. This number represents the total voting rights in the Company, and following Admission, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's ("FCA") Disclosure and Transparency Rules. The New Ordinary Shares are freely transferable and shall rank pari passu in all respects with the existing ordinary shares of the Company.

ENDS

For more information, please contact:

 
 Semper Fortis Esports plc                            via Square1 Consulting 
                                                      https://semperfortisesports.com 
   Max Deeley, Finance Director 
 
 Hybridan LLP - AQSE Corporate Adviser and Broker      https://hybridan.com/ 
 Claire Noyce, Managing Partner, Corporate Finance    +44 203 764 2341 
  Niall Pearson, Head of Corporate Broking & Sales     +44 203 764 2343 
 
 Square1 Consulting                                   +44 207 929 5599 
 David Bick                                           +44 7831 381201

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END

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April 28, 2023 02:00 ET (06:00 GMT)

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