Guild Esports PLC Convertible Loan Note Agreement

RNS Number : 8998I

Guild Esports PLC

02 April 2024

 

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

 

2 April 2024

 

Guild Esports PLC

 

("Guild Esports", "Guild", or "the Company")

 

Convertible Loan Note Agreement

 

Guild Esports PLC (LSE: GILD; OTCQB: GULDF), a global gaming-focused media business, announces that it has entered into an unsecured convertible loan agreement ("the Loan Agreement") with Compassare Holdings ("Compassare") for £250,000.

 

Compassare will provide Guild with the principal amount of £250,000 on a one-year term at an interest rate of 8%. The proceeds of the Loan Agreement will be used for the Company's working capital requirements. The loan is agreed to be repaid with interest on 25 March 2025.

 

Under the Loan Agreement, Compassare has the right to convert the principal amount into new ordinary shares of £0.001 each in the Company at any time at least 30 days before the final payment date. The conversion price has been set at £0.00375, equal to an 25% premium to the Company's share price as at 28 March 2024. The accrued interest at the date of conversion will be payable in cash.

 

Compassare is an investment company with holdings across sectors including oil and gas, food and beverages, technology and sustainable solutions. Founded in 1988, Compassare is based in the UAE with global investments across Europe, the UK, the USA, MENA, and India.

 

For further information please contact:

Guild Esports
Jasmine Skee Chief Executive	via Tancredi [phone]
Tennyson Securities
Corporate Broker Peter Krens	[phone]
Tancredi Intelligent Communication Media Relations
Helen Humphrey Charlie Hobbs [e-mail]	[phone] [phone]

 

About Guild Esports:

 

Guild Esports PLC is a global gaming-focused media business 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 entertainment sector and 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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