2UP announces intention to upgrade listing
10 April 2012
PRESS RELEASE -- Listed online gaming and entertainment company 2UP Gaming has announced it is in the process of upgrading its listing on the Frankfurt Stock Exchange to the Entry Standard.
With expected revenue growth the 2UP Board has decided to upgrade from Frankfurt's First Quotation Board to better reflect the company's growth and assets.
The Entry Standard is similar to the Alternative Investment Market (AIM) in London and a segment within the Open Market (regulated unofficial market) of the stock exchange of Deutsche Börse AG. 2UP business development director, Peter Flynn, says this is an important step forward for the company as it establishes itself as a diversified online gaming and entertainment business on an international scale.
“Listing on the Entry Standard will appeal to our growing base of investors as it requires a higher level of disclosure, transparency and reporting,” Mr Flynn says. “It will make us a more attractive investment opportunity and also increase our market presence throughout Europe and other markets. We are in the process of completing the required prospectus and associated compliance and expect to announce a listing date in the coming months.”
2UP recently announced the purchase of online affiliate pokies website WebNetPokies and a number of other potential acquisitions including DBG Poker and Asian pool betting company ToteDaddy.
2UP is also in negotiations for a joint venture with an online lottery company, and discussion to complete a major capital raising from a substantial private equity firm are currently underway.
This will be underpinned by other unique and established gaming and wagering options to be released as part of its growth plans.
This will include 2UP, the traditional coin toss game that is planned to be released soon. This is played in most countries around the world. Players make a call on weather two coins tossed in the air fall as two tails or two heads. A correct call wins.