REG - Guild Esports PLC - Convertible Loan Note Agreement

Guild EsportsAnnouncement

02/04/2024 07:00

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RNS Number : 8998I  Guild Esports PLC  02 April 2024

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(EU) No. 596/2014, as retained as part of the law of England and Wales. Upon
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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                                               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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