Company Announcements

12 September 2019

appScatter Group plc

("appScatter" or the "Company")

 New Loan Facility and Issue of Equity

appScatter Group plc (AIM: APPS), the app management and data intelligence platform, is pleased to announce that it has signed a secured loan facility for up to €5.0 million and issued 6,033,732 Ordinary Shares at a price of 26.8 pence pursuant to the equity fundraising announced on 17 April 2019.

Loan facility

The Company has signed a loan facility for up to €5 million from Harbert European Speciality Lending (the "Harbert Facility") to be used for the completion of the proposed acquisition of Airpush Inc as announced on 9 April 2019 and  to assist with the funding of the day to day running of the business.

The facility will be drawn in tranches, the first advance of €750,000 will be drawn in the coming days.  The second advance of €750,000 is expected to be drawn following shareholder approval of the proposed transaction of Airpush Inc. (the "Proposed Transaction").  Two subsequent advances of €1 million each and up to three further advances of at least €500,000 shall be available until 31 August 2020. The Company will pay an interest rate of 11 per cent. per annum of the funds drawn down at any one time.

The first and second advances will be repaid in thirty-six equal monthly instalments commencing three months after the first draw down.  Subsequent and further advances will be repaid in thirty equal instalments.

Under the terms of the facility the Company will issue warrants to Harbert on draw down of the first advance equal to £208,333 plus 5.3% of the second and any subsequent advances actually drawn under the loan agreement to a maximum aggregate amount of £208,333. The strike price for the warrants will be the lower of the price that the Company's shares traded at immediately prior to suspension (being 17.25 pence) and the average price per share for the five business days following re-admission.

Equity placing

Further to the announcement dated 17 April 2019 the Company has now received £1.6 million of the outstanding £2.2 million subscription for new ordinary shares of 5 pence each in appScatter ("Ordinary Shares"), the Company does not expect the remainder of the outstanding funds to be received and accordingly the Company will only issue a total of 6,033,732 Ordinary Shares at an issue price of 26.8 pence per share for a total value of £1,617,040.

Application has been made for the Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM on 17 September 2019 ("Admission").

Total Voting Rights

On Admission, the Company will have 97,049,889 ordinary shares of 5 pence each in issue and no ordinary shares are held in treasury. The figure of 97,049,889 may be used by the Company's shareholders as the denominator in 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Phillip Marcella, Chief Executive of appScatter Group plc commented

"I am delighted to have secured this additional funding which will be used to progress the transaction, I look forward to the readmission of the enlarged Group."

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The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.