King & Wood Mallesons London-based corporate team acted for SPARK Advisory Partners Limited and Peterhouse Capital Limited, Nominated Adviser (Nomad) and Broker respectively, to Kin Group Plc, on its all share acquisition of bidstack Limited, provider of dynamic, targeted and automated in-game advertising for the global computer games industry.
The proposed acquisition received shareholder approval on 17 September 2018.
The King & Wood Mallesons team, led by partner Greg Stonefield and associate Jenny Goodrich, also advised in respect of a £3.5 million placing to be used as working capital to assist in bidstack’s growth.
Admission of the enlarged issued share capital increases Kin Group Plc’s market capitalisation to £11.93 million. Kin Group plc, which is an AIM Rule 15 cash shell, engaged in assessing Reverse Take Over candidates that wished to obtain a listing on AIM, believes that bidstack’s key strengths include the ability to insert native advertising directly into video games dynamically and in real time – enabling video game publishers and developers to derive revenue from advertising which they would otherwise be unable to generate.
Mark Brady, founding partner of SPARK Advisory Partners comments: “KWM’s London team is a pleasure to work with. Greg and Jenny were extremely committed and responsive throughout the transaction. Their grasp of the UK Code and quoted company issues as well as the global video games industry is excellent.”
Greg Stonefield said: “We are delighted to have served as Nomad and Broker’s counsel on this transaction in what is a dynamic and growing market. AIM is widely considered as the world’s leading growth market and with the London Stock Exchange achieving over 100 IPOs last year, with nearly half of those floating on AIM, we believe bidstack is in very good company and can achieve its ambitions.”