Updating the market, London AIM-listed industry mobile games and platform developer Gaming Realms Plc has confirmed that it has raised £1.1 million (before expenses) following its subscription of +10 million new shares.
Priced at 0.10p each, Gaming Realms governance details that the new subscription represents approximately 3.8% of the firms existing share capital.
Updating investors, Gaming Realms detailed that the proceeds of the raised capital would used ‘to increase unique game creation to enhance the game library for both our real money gaming platform and licensing the content on our remote game server.’
The firm’s latest share subscription, saw Gaming Realms managing directors Michael Buckley (Executive Chairman), Patrick Southon (CEO) and Simon Collins (founding team partner) contribute to the round.
In its H1 2017 interim results, Gaming Realms governance stated that it was pleased with the firm’s outlook and expectations, having closed a busy period for the firm in which it secured major games development contracts for ITV’s popular ‘Love Island’ TV show.
The new share application has been officially made with the London AIM and is expected to be cleared by 14 August.