News blog

Antisoma

• BY: Andrew Hore |
• POSTED: 21/03/2013 |

Antisoma will not have to take up any shares in GVC Holdings following the online gaming company’s takeover of Sportingbet. 

Antisoma had committed to subscribe for up to £4m worth of new sharesGVC at 233.5p a share in order to help fund the cash alternative bid for Sportingbet. The £4m was held in escrow and will be returned.

Antisoma was granted options over 343,053 GVC shares at 23.5p a share in return for the commitment. The option lasts three years. The current GVC share price is 253p.

At 1.86p a share, Antisoma is valued at £11.9m.

Antisoma still had £9.48m in cash at the end of 2012, plus a £1.1m investment in an Aim-quoted care sector business. The £4m GVC commitment was included in receivables. The NAV was £12.9m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2013_42.pdf