Guild Esports PLC Update on Convertible Loan Agreement

RNS Number : 0672O

Guild Esports PLC

13 May 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

 

13 May 2024

 

Guild Esports PLC

 

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

 

Update on Convertible Loan Agreement

 

Change of Company Secretary

 

Guild Esports PLC (LSE: GILD; OTCQB: GULDF), a global gaming-focused media business, announces that following the convertible loan agreement announced on 2 April 2024, Compassare Holdings ("Compassare") has exercised its right to convert the principal amount of £250,000 into new ordinary shares of £0.001 each in the Company ("Ordinary Shares").

 

The agreed conversion price was £0.00375, and as such Compassare has been issued and allotted 66,666,667 new Ordinary Shares in full satisfaction of Guild's obligations (other than admission) under the convertible loan agreement.

 

Prospectus and Admission

The Ordinary Shares to be issued to Compassare will rank pari passu in all respects with the existing Ordinary Shares. However, Guild does not currently have sufficient headroom for the Ordinary Shares issued pursuant to the conversion to be admitted to the Official List maintained by the FCA and to trading on the London Stock Exchange PLC's Main Market without the publication of a prospectus. The Company will use its reasonable endeavours to procure admission of the Ordinary Shares within 12 months, as permitted and required by the Listing Rules.

 

The Company is in the process of preparing a new prospectus and, subject to approval by the FCA, Guild will publish this in due course. Once the prospectus has been published, application will be made for the 66,666,667 Ordinary Shares to be admitted to the Standard List segment of the Official List and to trading on the Main Market of the London Stock Exchange PLC.

 

Following the issue and allotment of these shares, the total number of issued shares and total number of voting rights will be 804,984,029. The Company does not hold any shares in treasury.

 

Change of Company Secretary

Guild is pleased to announce that Westend Corporate LLC has been appointed as Company Secretary.

 

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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