For release: 07.00, 9 January 2025
GOOD LIFE PLUS
PLC
(the "Company" or "Good Life
Plus")
SUBSCRIPTION OF £1 MILLION
CLN AND UPDATE ON PARTNERSHIPS
Good Life Plus Plc (AQSE: GDLF), an
innovator in the luxury prize draw and rewards sector, is pleased
to announce the creation of a Convertible Loan Note instrument
("CLN") for up to £2 million, with an initial subscription of £1
million already made by Boatside Investments, a private investment
vehicle owned by Mark Blandford and family. Mark Blandford, the
founder of SportingBet Plc, owns 21.1% of the Company via his
beneficial ownership of Winforton Investments.
Convertible Loan Note Instrument (CLN)
The CLN has the following key
terms:
· The
CLN will automatically convert into ordinary shares on 31 July 2025
at the lower of:
o 2.2p
per share; or
o The
price of any subsequent equity fundraise that occurs before 31 July
2025.
· The
CLN is open for subscription until 31 January 2025, after which no
further subscriptions will be accepted.
· The
instrument allows for the issuance of up to £2 million of Loan
Notes.
Boatside Investments has agreed to
subscribe for £1 million of the CLN.
Intended Use of Proceeds
The subscription by Boatside
Investments further demonstrates ongoing confidence in the
Company's growth strategy and long-term value creation and the
proceeds will be deployed to support the Company's growth
initiatives, including:
· expanding customer acquisition channels;
· enhancing its premium subscription offering;
· strengthening operational capabilities; and
· further exploring strategic partnerships and above-the-line
advertising opportunities.
· international expansion
Update on Operations
Since the Company announced the
partnership with a leading UK Mobile Operator on 4 September 2024,
a number of further partnerships have launched in full or in
pilot. These include agreements with some of the leading
affiliates in the UK gaming industry, Reach Plc and the News
UK.
Charlie Chadd, CEO of Good Life Plus Plc,
commented:
"The continued support from our largest external shareholder
represents a strong endorsement of both our progress to date and
the scale of the opportunity ahead. The investment strengthens our
ability to accelerate growth across key areas and seize new market
opportunities. We are excited to build on this momentum, deepen our
partnerships, and continue delivering exceptional value for our
customers while driving long-term shareholder
returns."
Related Party Transaction
As the ultimate beneficial owners of
Boatside Investments currently hold more than 10% of the Company's
issued share capital, the Subscription constitutes a related party
transaction under Rule 4.6 of the AQSE Growth Market Access
Rulebook. The Directors of the Company, having exercised reasonable
care, skill, and diligence, consider that the terms of the
Subscription are fair and reasonable as far as shareholders are
concerned.
Admission and Total Voting Rights
No immediate changes to the
Company's issued share capital or total voting rights arise as a
result of the creation of the CLN instrument. The details of any
share issuance, including total voting rights, will be announced
upon conversion of the CLN.
This announcement contains
information which, prior to its disclosure, was inside information
as stipulated under Regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310 (as amended).
The Directors of the Company take
responsibility for this announcement.
- Ends -
For
further information, please contact:
Good Life Plus Plc
Charlie Chadd, Chief Executive Officer
| +44 (0)7500 929157
AQSE Corporate Advisor
Novum Securities Limited
David Coffman / Daniel Harris / George Duxberry
| +44 (0)20 7399 9400
Rosewood
Financial Media and Investor Communications
John West / Lily Pearce
| +44 (0)20 7653 8702
goodlifeplus@rosewoodpr.co.uk
