Placing to Raise £212,500

Ultimate Sports Group Plc, the AIM listed investment vehicle, is pleased to announce that it has raised £212,500 through the placing of 2,125,000 new ordinary shares of 10 pence each in the capital of the Company (the 'Placing Shares') at a price of 10 pence per share with new and existing investors (the 'Placing'), which includes Directors of the Company. The funds raised will be used for working capital to support the Company's sports businesses.

Dowgate Capital Stockbrokers have arranged to place 2,125,000 new shares at 10p per share to raise £212,500 before expenses. Company Directors Richard Owen (Chairman) and Geoffrey Simmonds (Director) have both participated in the Placing, each investing £50,000 for the subscription of 500,000 new shares each. Accordingly, following the Placing Richard Owen will hold 2,444,672 shares or 10.8% of the resultant issued share capital, and Geoffrey Simmonds will hold 2,557,092 shares or 11.3% of the resultant share capital.

The participation by Richard Owen and Geoffrey Simmonds in the placing is considered to be a related party transactions under the AIM Rules and accordingly, the independent directors (being all of the directors other than Mr Owen and Mr Simmonds), having consulted with Cantor Fitzgerald Europe, the Company's nominated advisor, consider the terms of the transactions to be fair and reasonable insofar as the Company's shareholders are concerned.

Details of the Placing:

The Placing is subject, inter alia, to admission of the Placing Shares to trading on AIM ('Admission'), which is expected to occur at 8am on 12 April 2017. Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. The Placing Shares will, when issued, rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the Company will have 22,611,638 Ordinary Shares in issue. The Company has no shares in treasury, therefore the figure of 22,611,638 should 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 of their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules


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