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Scout Gaming Group Completes Directed Share Issues and Receives Proceeds of Approximately SEK 75 Million
Scout Gaming Group AB announces that the Company successfully has completed two directed share issues amounting to approximately SEK 75 million, corresponding to approximately 3 million shares in the Company.
The Board of directors of Scout has, based on the authorization granted by the Annual General Meeting on May 25, 2020, resolved on a directed share issue of 1,835,062 shares through a so-called accelerated “book building” procedure (the ”Share Issue”) and on a directed share issue to the existing Santa Monica-based institutional investor Topline Capital Partners Ltd, of 1,200,000 shares (the “Directed Share Issue”). The Company receives approximately SEK 45 million before transaction costs from the Share Issue and approximately SEK 30 million before transaction costs from the Directed Share Issue, equal to a total amount of approximately SEK 75 million.
The Share Issue was substantially oversubscribed, and the subscription price has been set to SEK 25 per share through the accelerated book building procedure, which corresponds to a 14.6 percent premium compared to the average volume-weighted price of the Company’s share on the Nasdaq First North Growth Market over the past 30 trading days. The subscription price in the Directed Share Issue has been set to the same price as in the Share Issue.
The Share Issue was directed to Swedish and international institutional investors. In order to facilitate the execution of the Share Issue, the new shares have initially been subscribed for by ABG Sundal Collier AB at a price corresponding to the shares’ quota value. The shares will be transferred to the new and existing shareholders in the Company in accordance with agreements entered between ABG Sundal Collier and the actual investors. Subscribers in the in the Share Issue among others were the German institutional investor Lloyds AG, Provobis and Knutsson Holding. In connection with received payment from investors in the Share Issue, which is expected to occur around July 23, 2020, the Company will receive the remaining amount, i.e. the difference between the quota value and the price in the Share Issue.
“Scout Gaming is in an intensive growth phase establishing the DFS vertical globally. We are at the same time launching many new products and markets, just recently esport had a warm welcome. I’m sure that we trough this placing can capture additional market possibilities to accelerate the growth even more rapidly. I’m very pleased to attract both new and existing institutional investors as well as sector specialists”, comments Scout’s CEO Andreas Ternström.
The reason for the deviation from the shareholders’ preferential rights is mainly to raise capital in a time- and cost-efficient manner and to widen the institutional owner base. Through the Share Issue and the Directed Share Issue, Scout’s financial position will be further strengthened and enable and accelerate growth as well as a continued product development.
After the registration of the Share Issue and the Directed Share Issue, the total number of shares in the Company will amount to 20,536,654 shares. The Company’s share capital will increase with SEK 159,740.12 to SEK 1,080,876.56. The Share Issue and the Directed Share Issue entails a dilution of approximately 15 percent of the number of shares in Scout after the Share Issue and the Directed Share Issue.
In connection with the Share Issue, the Company has appointed ABG Sundal Collier as Sole Lead Manager and Bookrunner and Advokatfirman Delphi as legal counsel.
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Lucky Hills Casino proudly announces that it has officially received the esteemed eCOGRA certification — one of the most respected seals in the global iGaming industry.
This milestone marks a significant step in Lucky Hills’ development, depicting the brand’s dedication to providing a trustworthy, secure, and responsible gaming environment for all players.
What is eCOGRA?
eCOGRA is a world-renowned independent testing agency and certification body.
Since 2003, it has conducted audits, compliance assessments, and fairness checks across the online gambling sector, ensuring that operators meet the highest international standards. Its seal is recognized by regulators, industry experts, and players as one of the strongest indicators of reliability in iGaming.
What the eCOGRA certification confirms for Lucky Hills
Obtaining this certification verifies that Lucky Hills meets all key criteria of a safe and fair gaming platform:
- Fairness of all games, including independent verification of 95,20% RTP
- Secure management of player funds and personal data, in accordance with international standards
- Full compliance with responsible gaming principles, including special attention for vulnerable players
- Transparent and honest operational processes
- Ongoing monitoring and regular audits to maintain compliance over time
For Lucky Hills, the eCOGRA seal represents more than just a compliance achievement — it reflects a long-term commitment to responsible entertainment. Combined with a diverse catalogue of 3000 slots, a comprehensive VIP program, and a variety of promotional activities, this certification elevates Lucky Hills’ position in the iGaming landscape. It also gives players full confidence in a gaming experience built on transparency, fairness, and long-term trust.
The post Lucky Hills earns prestigious eCOGRA Certification appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Lucky Hills Casino proudly announces that it has officially received the esteemed eCOGRA certification — one of the most respected seals in the global iGaming industry.
This milestone marks a significant step in Lucky Hills’ development, depicting the brand’s dedication to providing a trustworthy, secure, and responsible gaming environment for all players.
What is eCOGRA?
eCOGRA is a world-renowned independent testing agency and certification body.
Since 2003, it has conducted audits, compliance assessments, and fairness checks across the online gambling sector, ensuring that operators meet the highest international standards. Its seal is recognized by regulators, industry experts, and players as one of the strongest indicators of reliability in iGaming.
What the eCOGRA certification confirms for Lucky Hills
Obtaining this certification verifies that Lucky Hills meets all key criteria of a safe and fair gaming platform:
- Fairness of all games, including independent verification of 95,20% RTP
- Secure management of player funds and personal data, in accordance with international standards
- Full compliance with responsible gaming principles, including special attention for vulnerable players
- Transparent and honest operational processes
- Ongoing monitoring and regular audits to maintain compliance over time
For Lucky Hills, the eCOGRA seal represents more than just a compliance achievement — it reflects a long-term commitment to responsible entertainment. Combined with a diverse catalogue of 3000 slots, a comprehensive VIP program, and a variety of promotional activities, this certification elevates Lucky Hills’ position in the iGaming landscape. It also gives players full confidence in a gaming experience built on transparency, fairness, and long-term trust.
The post Lucky Hills earns prestigious eCOGRA Certification appeared first on Americas iGaming & Sports Betting News.
Lucky Hills Casino proudly announces that it has officially received the esteemed eCOGRA certification — one of the most respected seals in the global iGaming industry.
This milestone marks a significant step in Lucky Hills’ development, depicting the brand’s dedication to providing a trustworthy, secure, and responsible gaming environment for all players.
What is eCOGRA?
eCOGRA is a world-renowned independent testing agency and certification body.
Since 2003, it has conducted audits, compliance assessments, and fairness checks across the online gambling sector, ensuring that operators meet the highest international standards. Its seal is recognized by regulators, industry experts, and players as one of the strongest indicators of reliability in iGaming.
What the eCOGRA certification confirms for Lucky Hills
Obtaining this certification verifies that Lucky Hills meets all key criteria of a safe and fair gaming platform:
- Fairness of all games, including independent verification of 95,20% RTP
- Secure management of player funds and personal data, in accordance with international standards
- Full compliance with responsible gaming principles, including special attention for vulnerable players
- Transparent and honest operational processes
- Ongoing monitoring and regular audits to maintain compliance over time
For Lucky Hills, the eCOGRA seal represents more than just a compliance achievement — it reflects a long-term commitment to responsible entertainment. Combined with a diverse catalogue of 3000 slots, a comprehensive VIP program, and a variety of promotional activities, this certification elevates Lucky Hills’ position in the iGaming landscape. It also gives players full confidence in a gaming experience built on transparency, fairness, and long-term trust.
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