Probability plc
24 August 2006
Probability plc (‘Probability’ or ‘the Company’)
First Day of Dealings
Placing and Admission to AIM
Probability plc announces today the first day of trading of its Ordinary Shares
on the AIM market of the London Stock Exchange (‘AIM’).
Admission to trading follows a Placing of the Company’s Ordinary Shares, which
raised approximately 4.1 million before expenses, at the Placing Price of 76
pence per share. The Company will be capitalised at approximately 13.7 million,
when the shares commence trading this morning. Evolution Securities is acting as
Nominated Adviser and Broker to the Company.
The Company
Probability operates Casino, Bingo! and lottery games for mobile phone users, as
well as associated payment services. A recognised leader in the emerging market
of mobile gambling, Probability’s services are currently available to over 1,000
models of mobile phone and do not require players to have access to a PC
internet connection to register, pay or play.
Probability’s services are targeted at the mass-market mobile consumer who is
seeking an entertaining pastime with a chance to win some money, rather than the
committed, heavy gambler. Minimum stakes are 10 pence, with some customers
having won 10,000 or more on a single game.
The Market Opportunity
Independent research predicts that the market for mobile phone gambling will be
worth $16,000m in 2008, and that mobile Casino gambling will be worth $1,886
million worldwide by 2009.
The Company has not included the United States in any of its plans or
projections, and has not taken any bets from customers in the United States in
the past.
Strategy
The net proceeds from the IPO will be applied to accelerate the growth of
Probability’s UK gambling business, to fund expansion into international markets
and the internationalisation of Probability’s FSA authorised mobile payment
system.
Placing statistics
Placing Price 76 pence
Number of Ordinary Shares in issue prior to the Placing 12,116,000
Number of Placing Shares being placed on behalf of the Company 5,460,526
Number of Ordinary Shares in issue on Admission 17,969,927
Market Capitalisation of the Company 13.7 million
Estimated net proceeds of the Placing receivable by the Company 3.7 million
Definitions used in this announcement will have the same meanings, unless the
context requires otherwise, as those used in the AIM Admission Document dated 18
August 2006.
24 August 2006
For further information, please contact:
Probability plc +44 207 499 6665
Charles Cohen, Chief Executive Officer charles@probability.tv
Evolution Securities Limited +44 207 071 4300
Stuart Andrews
Bobbie Hilliam
Holborn PR
David Bick +44 207 929 5599
This information is provided by RNS
The company news service from the London Stock Exchange