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Praesepe started life as Aldgate Capital, which joined Aim as a cash shell on 11 April 2006. It raised £5m at 10p a share at that time. It planned to buy businesses involved in low-stake, high-volume gaming in the UK and Europe. That includes the type of adult gaming centres that Talarius, which was run by Aldgate's management, owned, as well as family amusement centres, casino gaming and some sports betting and bingo operations. The first purchase was in July 2008 and was classed as a reverse takeover. Praesepe acquired 31 adult gaming centres for £25m in cash and shares. It raised £16.7m at 22p a share in order to help finance this purchase.
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