Mobile Loyalty

Raises SEK 18 million in new capital

News   •   Aug 15, 2012 07:49 BST

The Board has since the AGM 2012 a mandate to raise additional capital for the Company as previously communicated. With this authorization, the Company has carried out a private placement.
“This is a great token for the business opportunity that Mobile Loyalty is addressing and the groundbreaking way we are pursuing this opportunity. We are delighted with the interest and support from these investors, and that we have completed this private placement during the summer and in such volatile market conditions.”, says Nicklas Gerhardsson, CEO Mobile Loyalty.
The common shares were subscribed for at SEK 2.00 per share, representing a premium of 8.7% relative to the Group’s average share price on AktieTorget in June of SEK 1.84 per share. Of the capital raised, SEK 16.2 million represented a cash issue and SEK 1.9 million represented an issue against payment.
During 2012, the Group has entered into a commercial phase with focus on sales and marketing. With the new capital raised, the Group can more aggressively pursue, finance and execute its growth strategy, and accelerate its efforts to deliver and implement mobile advertising solutions to TV and newspaper companies.
“We have had an exciting year thus far, having completed the acquisition of ENC and Scandvision; launched new products and won new newspaper and TV customers; and raised new growth capital. Going forward, with this additional capital we can be more aggressive and quicker at selling and implementing our solutions.”, comments Nicklas Gerhardsson.
Both new and existing investors participated in this private placement; none of these investors owns 5% or more of the Company’s shares. As a result of this private placement, the Company’s
total number of shares will increase by 9,050,000 shares to 55,915,493 shares.