Update on Convertible Loan Agreement
13/05/2024 07:00
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RNS Number : 0672O Guild Esports PLC 13 May 2024
The information contained within this announcement is deemed by the Company to
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(EU) No. 596/2014, as retained as part of the law of England and Wales. Upon
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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 via Tancredi +44 207 887 7633
Chief Executive
Tennyson Securities
Corporate Broker +44 207 186 9030
Peter Krens
Tancredi Intelligent Communication
Media Relations
Helen Humphrey +44 7449 226 720
Charlie Hobbs +44 7897 557 112
guild@tancredigroup.com (mailto:guild@tancredigroup.com)
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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