Company raises €26.6m on admission to ESM.
The Irish Stock Exchange (“ISE”) welcomes GameAccount Network plc to the Enterprise Securities Market (“ESM”), the Irish Stock Exchange’s market for growth companies.
GameAccount Network is a developer and supplier of enterprise-level business to business gaming software systems and online gaming content. It has an established business in Europe, with a blue-chip customer base of online and land-based gaming operators. GameAccount Network has been developing its presence in the US since 2009 and is seeking to increase its US market share through the licensing of its Internet Gaming System for regulated real-money and simulated gaming to land-based casino operators.
GameAccount Network raised capital of €26.6m on admission to the ESM. It commenced trading on the ISE with a market capitalisation of almost €90m (€89.4m). Its admission to the ISE’s ESM coincides with its admission to AIM in London.
GameAccount Network’s ESM ticker symbol is GAME.
Dermot Smurfit Junior, Chief Executive Officer, speaking at the GameAccount Network’s market launch at the ISE, said, “Although our company is head-quartered in the UK, we have strong Irish links through our management team, shareholders and staff. A quotation on the ISE makes perfect sense as it enhances our profile among the international investment community and we enjoy significant support from the network of professional advisors in Dublin. As a result we have been able to market our company and raise funds successfully throughout Ireland, Europe and the US.”
Deirdre Somers, Chief Executive of the ISE, said, “It is exciting to see a fast-growing technology-led company like GameAccount Network choosing capital markets as a means to scale its business. We hope to see more companies do this following the recent change in Government policy which will see investors in ESM companies exempted from stamp duty. We anticipate strong trading in GameAccount Network among the ISE’s international membership base and look forward to a long relationship between its management and Board and the Irish market.”
Davy is acting as ESM Advisor to GameAccount Network.
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*Press Release by The Irish Stock Exchange 25th November 2013
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