{"id":454,"date":"2024-06-27T01:33:11","date_gmt":"2024-06-26T22:33:11","guid":{"rendered":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/"},"modified":"2024-06-27T01:33:11","modified_gmt":"2024-06-26T22:33:11","slug":"nektan-seeks-3-million-to-restructure-and-expand","status":"publish","type":"post","link":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/","title":{"rendered":"Nektan Seeks \u00a33 Million to Restructure and Expand"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/Ar1nV5tyfDA\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Nektan has declared intentions to secure \u00a33 million in operational capital and reorganize existing loan arrangements, signifying that the firm requires fresh funds to maintain operations.<\/p>\n<p>Nektan intends to gather \u00a33 million by issuing new common stock, a move that necessitates shareholder authorization. Nektan will accept subscriptions by September 25th.<\/p>\n<p>Should this placement succeed, Nektan has already reached an agreement to restructure its Series A and Series B convertible loan notes (CLNs), along with loans provided by Executive Director Gary Shaw and Venture Tech Assets (VTA).<\/p>\n<p>As of June 30, 2019, the \u00a33.5 million Series A CLN, which had accumulated \u00a3400,000 in interest, will be transformed into Nektan ordinary shares. The company has also negotiated with bondholders to extend the maturity date of the Series B CLN and decrease the loan interest. <\/p>\n<p>Xiao and VTA, a firm connected to Nektan non-executive director Sandeep Reddy, have agreed to delay the repayment date of their loan. These loans, amounting to \u00a31.3 million, will now be due on April 29, 2021.<\/p>\n<p>Jim Wilkinson, Nektan&#8217;s non-executive chair, stated that the proposed share offering, along with the conversion and extension of convertible bonds, is a crucial development for Nektan, which, if successful, will place the company in a considerably stronger position. He expressed gratitude to the CLN holders for their assistance in this matter.<\/p>\n<p>Nektan has consented to receive \u00a3350,000 from the proceeds of the offering as an unsecured loan, payable upon completion of the transaction. This sum can be repaid at any time.<\/p>\n<p>The provider cautioned that if it fails to secure funds through the offering, it will require additional financing to continue operations. This would prompt the executives to seek alternative forms of funding or asset disposals.<\/p>\n<p>Wilkinson added that Nektan remains optimistic about the potential for its technology platform to thrive in multiple markets.<\/p>\n<p>He explained that with a significant number of integrations expected to be delivered in 2019, and a variety of exciting opportunities, the group believes it has entered a period of transformation with a promising future. <\/p>\n<p>A business report, issued alongside information about a capital restructuring and stock offering, disclosed that Nektan&#8217;s B2B operations had experienced substantial growth in the fiscal year concluding on June 30, 2020.<\/p>\n<p>Nektan&#8217;s B2B income surged by 308.3% from a modest starting point to \u00a3980,000. Their solutions were launched with more than 12 collaborators across six markets in Asia and Africa, with further expansion anticipated in the final months of 2019. Integration with eight partners in Europe is nearing completion, with seven partners in India and four in Taiwan also scheduled for integration.<\/p>\n<p>The provider explained: &#8220;Many of the entities that the group is integrating are well-known names in their respective regions. [Nektan] believes that if these integrations are successful, they have the capacity to alter the group&#8217;s financial performance.&#8221;<\/p>\n<p>Nektan added that integration with Kenyan operator Betika was finalized in July, with over 1.6 million wagers placed daily and total gaming earnings increasing weekly.<\/p>\n<p>However, the B2C white label division has encountered challenges in the UK due to a heightened remote gaming tax and stricter player verification procedures. Nektan noted that it is presently paying \u00a34.6 million in point of consumption tax to HMRC.<\/p>\n<p>However, it stated that it has engaged with a number of partners who have agreed to increase marketing spending, which in turn is expected to propel revenue growth. <\/p>\n<p>The firm is also striving to cut down on its expenditures and anticipates turning a profit by the close of this financial year.  They had previously set their sights on this goal by June 30, 2019.<\/p>\n<p>Subscribe to the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nektan has declared intentions to secure \u00a33 million in operational capital and reorganize existing loan arrangements, signifying that the firm requires fresh funds to maintain operations. Nektan intends to gather \u00a33 million by issuing new common stock, a move that necessitates shareholder authorization. Nektan will accept subscriptions by September 25th. Should this placement succeed, Nektan [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nektan Seeks \u00a33 Million to Fuel Operations<\/title>\n<meta name=\"description\" content=\"Nektan aims to raise \u00a33 million through a share issuance, restructuring existing loans to secure operational capital.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Nektan Seeks \u00a33 Million to Restructure and Expand\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Nektan aims to raise \u00a33 million through a share issuance, restructuring existing loans to secure operational capital.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Your Go-To Licensed Online Casino for Exciting Games &amp; News\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T22:33:11+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/\",\"url\":\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/\",\"name\":\"Nektan Seeks \u00a33 Million to Fuel Operations\",\"isPartOf\":{\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-26T22:33:11+00:00\",\"dateModified\":\"2024-06-26T22:33:11+00:00\",\"author\":{\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Nektan aims to raise \u00a33 million through a share issuance, restructuring existing loans to secure operational capital.\",\"breadcrumb\":{\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/27\/nektan-seeks-3-million-to-restructure-and-expand\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/vegas2webnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nektan Seeks \u00a33 Million to Restructure and Expand\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/vegas2webnodepositbonus.icu\/#website\",\"url\":\"https:\/\/vegas2webnodepositbonus.icu\/\",\"name\":\"Your Go-To Licensed Online Casino for Exciting Games &amp; News\",\"description\":\"Our licensed online casino is your go-to source for the latest industry news, game reviews, and expert insights. 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