REG - YOLO Leisure & Tech - Acquisition <Origin Href="QuoteRef">YOLO.L</Origin>

AsimilarAnnouncement

17/12/2014 15:11

RNS Number : 0665A
YOLO Leisure & Technology PLC
17 December 2014
YOLO Leisure and Technology plc
("YOLO" or the "Company")
Conditional acquisition of shareholding in Gfinity plc("Gfinity")
YOLO, the AIM listed company investing in leisure and technology companies, announces that it has conditionally acquired 1,764,705 shares in Gfinity representing 2.27 per cent. of the issued share capital of Gfinity. Gfinity is an electronic sports ("eSports") business that provides a hub for a rapidly expanding community that plays a range of electronic games such as League of Legends, FIFA 2015 and Call of Duty: Advanced Warfare for a cash consideration of 300,000. The investment is being made pursuant to, and on the same terms as, a placing by Gfinity and is subject to the admission of Gfinity shares to AIM, which is expected to take place on 22 December 2014.
Gfinity is a leading UK-based eSports company serving, in co-operation with games publishers, a rapidly-growing community of on-line gamers worldwide. Established in September 2012, the Company has established a popular on-line brand, gfinity.net, where gamers can compete, socialise and enjoy a wide range of content relating to electronic games on a proprietary technology platform. This platform enables Gfinity to run a regular roster of on-line competitions, leagues and ladders with the opportunity for gamers to win substantial prize money and/or pit their skills against professional and widely-followed "star" players. Such events are based around several of the industry's best selling games such as Call of Duty, League of Legends, Halo, Starcraft and FIFA.
The Directors therefore believe that the growing user base and demographic of Gfinity's audience will provide brand owners and advertisers with an attractive environment in which to promote their products and services, and consequently offer Gfinity an opportunity to generate significant revenues over the long term.
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For further information please contact:
YOLO Leisure and Technology plc
www.yoloplc.com
Simon Robinson
simon.robinson@yoloplc.com
Cairn Financial Advisers LLP
Sandy Jamieson
Tel: +44 20 7148 7900
Peterhouse Corporate Finance LimitedSole broker
Eran Zucker / Lucy Williams
Tel: + 44 20 7469 0930
Walbrook PR Ltd
Tel: +44 20 7933 8787
Paul McManus
Mob: +44 7980 541 893
 
  

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The company news service from the London Stock Exchange
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