Completion of Tranche 2 of the Placing Announced on 2 October 2019

YOLO is pleased to announce that the completion of Tranche 2 of the placing announced by the Company on 2 October 2019 ("Placing") comprising the issue 10,000,000 new ordinary shares of 0.1p each to Chris Akers at an issue price of 2.5p per share ("Tranche 2 Placing Shares") is due to take place on or around 23 December 2019. 

The Placing was for an aggregate of 30,000,000 new ordinary shares of 0.01p to be issued at 2.5 pence per share in two Tranches, to raise a total of £750,000 (before expenses).  Under the terms of the Placing, subscribers were also entitled to receive one warrant for every two Placing Shares subscribed for, exercisable at 6.0p per share ("Warrants") at any time up to 31 October 2020.  

The Admission of the 20,000,000 new ordinary shares representing Tranche 1 of the Placing took place of 11 October 2019.

Application has been made for the admission of the 10,000,000 Tranche 2 Placing Shares to be admitted to AIM on or around 23 December 2019.  In addition 5,000,000 Warrants will also be issued pursuant to the terms of the Placing.

Total Voting Rights

The Tranche 2 Placing Shares will rank pari passu with the existing ordinary shares in YOLO in all respects. Following the admission of the 10,000,000 Tranche 2 Placing Shares on 23 December 2019, the total issued share capital of the Company will be 82,132,276 ordinary shares, each with voting rights. The above figure 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 and Transparency Rules. 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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