Boku Inc Total Acquisition Consideration for Danal is $25m (7607Y)
06 Enero 2020 - 1:00AM
UK Regulatory
TIDMBOKU
RNS Number : 7607Y
Boku Inc
06 January 2020
6 January 2020
Boku, Inc.
("Boku" or the "Company" and, together with its subsidiaries,
the "Group")
Total Acquisition Consideration for Danal Inc. is $25m
Boku Inc (AIM: BOKU), the world's leading independent carrier
commerce company, announces that, further to the announcements on 2
January 2019 and 31 January 2019 in relation to the completion of
the acquisition of Danal, Inc. ("Danal"), 2,724,499 common shares
of $0.0001 each in the Company ("Common Shares") have been issued
to Danal shareholders following the release of the Common Shares
that were subject to holdback for 12 months (the "Holdback Shares")
as Boku has not filed any claims for indemnification.
Following the issue of the Holdback Shares the total
consideration paid by the Company to acquire Danal comprised the
issue of 26,700,000 Common Shares, the issue of warrants over
1,634,699 Common Shares exercisable for five years at an exercise
price of GBP1.41 each and US$1.0 million in cash. No additional
earn-out consideration is payable by the Company.
The total purchase price accounted for by the Company for the
acquisition of Danal has now therefore been finalised at
US$25,077,547.13, being approximately 8.6% of the Company's market
capitalisation as at close of business on 31 December 2019.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for
admission to trading on AIM of the Holdback Shares and these Common
Shares, which will rank pari passu with the Company's existing
issued Common Shares, are expected to be admitted to trading on or
around 7 January 2020 ("Admission"). Following Admission, the total
number of Common Shares of $0.0001 each of the Company in issue is
255,059,706. There are no shares held in Treasury. Therefore, the
total number of voting rights in Boku is 255,059,706. The above
figure of 255,059,705 shares may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the Disclosure Guidance and
Transparency Rules.
Jon Prideaux, CEO of Boku, commented, "The acquisition of Danal
brought Boku a strong US-focused mobile identity business with an
established platform, a great customer base -- including many
global brands -- and a team of experienced identity
professionals.
"Boku is in a favourable position with strong demand worldwide.
European Financial Institutions need to comply with the Strong
Customer Authentication (SCA) requirements of the Payment Services
Directive (PSD2). Asian companies are looking to combat emerging
fraud trends. Boku's products allow them to do this whilst meeting
consumer privacy requirements.
"Our focus is on globalising the offer so that Boku Identity can
meet this substantial demand, further enhancing our platform which
connects more than 190 mobile network operators worldwide."
Enquiries:
Boku, Inc.
Jon Prideaux, Chief Executive Officer
Keith Butcher, Chief Financial Officer +44 (0)20 3934 6630
Peel Hunt LLP (Nominated Adviser and Broker)
Edward Knight / Nick Prowting / Christopher
Golden +44 (0)20 7418 8900
IFC Advisory Limited (Financial PR & IR)
Tim Metcalfe / Graham Herring / Florence Chandler +44 (0)20 3934 6630
Notes to Editors
Incorporated in 2008, Boku is the world's leading independent
carrier commerce company. Boku's Platform, which is linked to
billing, identity and sales systems of more than 190 mobile network
operators, simplifies transacting on mobile devices.
Boku's Payment products enable mobile phone users, of which
there are more than five billion worldwide, to buy goods and
services and charge them to their mobile phone bill or pre-pay
balance. Its Identity Products are used to verify user details.
Companies like Apple, Google, Facebook, Microsoft, PayPal, Spotify,
Square, Sony and Western Union use Boku to simplify sign-up,
acquire new paying users and prevent fraud.
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END
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