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

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27/02/2015 16:31

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RNS Number : 1453G
YOLO Leisure & Technology PLC
27 February 2015 
 
The following amendment has been made to the Acquisition announcement released
on 17 December 2014 at 3.00 pm under RNS No 0665A. 
 
The first two sentences of the announcement should have read: 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, for a cash consideration of
£300,000.  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. All
other details remain unchanged. 
 
The full amended text is shown below. 
 
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, for a cash
consideration of £300,000.  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.  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. 
 
--ENDS- 
 
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       
 
 
This information is provided by RNS
The company news service from the London Stock Exchange