Board of Scout Gaming Group decides to conduct directed rights issue of 900,000 shares

The Board of Scout Gaming Group has decided to issue a new issue of 900,000 new shares to institutional investors. The new issue was signed by Swedbank Robur, which after the Rights Issue becomes a significant owner with 1 180 000 shares (8.88% of the share capital after the Rights Issue). Existing shareholders in the form of Novobis AB, Knutsson Holding AB, Isoquant Holding AB, Naxs AB and Lars Wingefors AB subscribed also subscribed for shares in the rights issue. The subscription price per new share amounted to SEK 47.

The Board of Scout Gaming Group decided to conduct a rights issue of 900,000 new shares to institutional investors. The rights issue was subscribed for by Swedbank Robur, which after the Rights Issue becomes a significant shareholder with 1 180 000 shares (8.88% of the share capital after the Rights Issue). Existing shareholders consisting of Novobis AB, Knutsson Holding AB, Isoquant Holding AB, Naxs AB and Lars Wingefors AB also subscribed for shares in the rights issue.

The subscription amounted to SEK 47. Through the Rights Issue, the firm will receive proceeds of approximately SEK 42 million before issue costs. The subscription price represents a discount of approximately 0.6% compared with the closing price of the Scout Gaming Group share on October 29, 2018.

A spokesperson for the operator said: “The reason for deviating from the shareholders’ preferential rights through the implementation of a directed new issue is to ensure, in a cost-effective and timely manner, funding to enable completion of the Company’s expansion in the US market, where the Company recently entered into two partnership agreements (Milestone Entertainment and Metric Gaming), and to ensure the Company’s financial ability to expand its operations in existing and new markets.”