LONDON, United Kingdom, July 17, 2014 (GLOBE NEWSWIRE) -- via PRWEB - The Board of AppBox Media, a UK based developer of mobile applications and video games, provided the market earlier today with an update on a series of key developments that progress the Company closer towards its vision of becoming one of world's leading game software developers.
•Key Points
*Seed A (SEIS) and Seed B (EIS) Offer for Subscription, fully subscribed at £1 per Ordinary A Share of £1.
*Seed C (EIS) Offer for Subscription, scheduled to open on 25th July 2014 at 9AM, with a Subscription Price of £2.10 per Ordinary A Share of £1 ("New Shares"). The Company intends to raise approximately £787,500 from institutional and private investors, on the basis of a current Information Memorandum. These New Shares are to be credited as fully paid and will rank pari passu with the existing Ordinary A Shares.
The Board considers the price for the New Shares to be fair and reasonable insofar as the Company's shareholders are concerned.
*The Company is set to become revenue producing within the month of July 2014, with the launch of its new iOS7 and Android based mobile game, titled 'Frenzy Fox'; a freemium based app with social media connectivity and IAP integration.
Commenting on today's news, P Hassan, CEO, said: "We continue to grow the business and look forward to building a consistent delivery of innovative, high quality mobile applications and games in 2014."
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