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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Guild Esports Plc | LSE:GILD | London | Ordinary Share | GB00BMWVF760 | ORD GBP0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.225 | 0.20 | 0.25 | 0.225 | 0.225 | 0.225 | 140,755 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Prof Sports Clubs, Promoters | 5.53M | -4.5M | -0.0061 | -0.36 | 1.62M |
TIDMGILD
RNS Number : 7098A
Guild Esports PLC
27 September 2022
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Press release
27 September 2022
Guild Esports PLC
("Guild Esports" or "the Company")
Agreement with David Beckham renegotiated
Grant of Warrants
Guild Esports (LSE: GILD), a global team organisation and lifestyle brand, is pleased to announce that it has renegotiated the terms of a five-year agreement with Footwork Productions Ltd. ("Footwork") that will reduce the Company's total minimum payment obligations by GBP7.5m over the next two years.
The original agreement enabled the Company to procure David Beckham's services as a brand ambassador in return for 15% of all merchandising and sponsorship revenues, with total minimum guaranteed fees of GBP15.25m payable in cash instalments over the five-year lifetime of the deal. The first two annual payments have already been satisfied by the Company and the third annual payment for 2022 amounting to GBP3m will be payable in line with the terms of the original agreement. Further annual payments of GBP3.5m and GBP4m were also due in respect of the fourth and final year of the contract, as disclosed in the Company's prospectus.
As part of the updated agreement, the minimum fee due to Footwork for the fourth and fifth years has been renegotiated. Instead of the remaining guaranteed minimums, Footwork will receive 20% of Guild Esports merchandising and sponsorship revenue, a move that will significantly reduce the Company's cash requirements and align the fees to its business performance and continued success. Mr Beckham will continue to perform ambassadorial services for the Company.
Grant of Warrants
As part of the renegotiation of the influencer agreement, Guild has granted 25,930,868 warrants (the 'Warrants') over ordinary shares of par value GBP0.01 in the Company ('Ordinary Shares') to Footwork . The Warrants have an exercise price of 2.7p and an exercise period limit of five years, vesting immediately.
For further information please contact:
Guild Esports Kal Hourd via Tancredi +44 207 887 Chief Executive 7633 Neil Thapar Investor Relations +44 7876 455 323 ------------------------- Tennyson Securities ------------------------- Corporate Broker Peter Krens +44 207 186 9030 ------------------------- Zeus Capital ------------------------- Corporate Broker Benjamin Robertson +44 203 829 5000 ------------------------- Tancredi Intelligent Communication Media Relations ------------------------- Salamander Davoudi Helen Humphrey +44 7957 549 906 Charlie Hobbs +44 7449 226 720 guild@tancredigroup.com +44 7897 557 112 -------------------------
About Guild Esports:
Guild Esports PLC is a global fan-focused team organisation and lifestyle brand that fields professional players in gaming competitions under the Guild banner. Our in-house training academy aims to attract and nurture the best esports talent, and our goal is to provide the ultimate entertainment experience alongside a distinctive lifestyle brand authentic to the esports community worldwide. Guild is led by an experienced management team of esports veterans and co-owned by David Beckham. The Company is headquartered in the UK and its shares are listed on the main market of the London Stock Exchange (ticker: GILD) and on the OTCQB Venture Market in the United States (ticker: GULDF). Please visit www.guildesports.com for more information.
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(END) Dow Jones Newswires
September 27, 2022 02:00 ET (06:00 GMT)
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