TIDMGFIN
RNS Number : 3435Z
Gfinity PLC
21 May 2021
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
21 May 2021
Gfinity plc
("Gfinity" or the "Company")
Appointment of Non-Executive Director and Board Changes
Director / PDMR Shareholding
Gfinity (AIM: GFIN), a world-leading esports and gaming
solutions provider, is pleased to announce the appointment of Hugo
Drayton to the Board as Non-Executive Director with immediate
effect. Hugo will also join the company's Remuneration and
Nominations committees.
Hugo (age 61) has spent the last six years as an Independent
Non-Executive Director on the Board of Future plc, the FTSE 250
global media production platform. In his role, Hugo has served as
Senior Independent Director, Chairman of the Remuneration Committee
and a member of the Audit & Risk and Nominations Committees,
during a period of significant growth for the company. In addition,
he was CEO of Inskin Media until 2019 - a brand advertising company
he led for 10 years, from start-up to a profitable, global media
business.
Earlier in his career, Hugo spent 10 years at The Telegraph
Group, where he served as Group Managing Director; he was also
Managing Director, Europe of Advertising.com (Time Warner). Hugo is
a Trustee of the British Skin Foundation and the Felix Byam Shaw
Foundation (The Felix Project).
As part of Hugo's appointment, the Company is entering into an
option arrangement with Mr Drayton. Under the terms of the option
arrangement Mr Drayton will be granted an option over 4,000,000
ordinary shares of 0.1 pence each in the capital of the Company
("Ordinary Shares").
The options will be exercisable at 5.0p per share (the "Exercise
Price"), being the average closing mid-market share price in the 30
days leading up to the date of the grant. 2,000,000 of the options
will vest on the date of grant; 2,000,000 of the options will vest
one year following the date of grant. The new options will expire
on 21 May 2031 if not exercised.
In addition, the Board has been informed by Preeti Mardia,
Non-Executive Director and Chair of the Audit Committee, of her
intention to step down from the Board with immediate effect.
Preeti will be succeeded as Chair of the Audit Committee by Len
Rinaldi. Len was appointed as Non-Executive Director of Gfinity in
December 2020, joining the Audit and Remuneration Committee, and
has extensive financial leadership experience, having served as
Apple EMEIA CFO for five years.
Mr Rinaldi will also be granted an option of 2,000,000 shares of
0.1 pence each in the capital of the Company ("Ordinary Shares").
The options will be also exercisable at 5.0p per share and
1,000,000 of the options will vest on the date of grant; 1,000,000
of the options will vest in one year following the date of grant.
The new options will expire on 21 May 2031 if not exercised.
With immediate effect founder and Non-Executive Chairman of
Gfinity, Neville Upton, will also join the Audit Committee.
Neville Upton, Founder and Chairman of Gfinity said: "The Board
and I are delighted to welcome Hugo to Gfinity. He is a respected
leader with a proven track record of helping media businesses grow.
Hugo's wealth of experience and insight will prove invaluable to
the company, particularly his expertise in the acceleration of
digital media businesses as the Gfinity Digital Media group
continues to grow at pace.
I would also like to sincerely thank Preeti for her
contributions to Gfinity over the last four years and wish her well
in her next venture."
Hugo Drayton said: "I am very excited about joining the
ambitious and talented team at Gfinity. Esports and Gaming are now
well-established, essential pillars in consumers' lives and in the
media; and Gfinity is well-positioned to capitalise on the
extraordinary growth in the sector. I look forward to harnessing my
experience to this high-growth market, to contribute to Gfinity's
future success."
The following details in relation to the appointment of Hugo
Drayton are disclosed in accordance with Schedule 2(g) of the AIM
Rules:
Current directorships Past directorships held
within last 5 years
Future plc Manufactura Limited
Inskin Media Ltd.
MASS Platform Ltd.
------------------------
There is no further information to be disclosed in relation to
Hugo Drayton's appointment pursuant to AIM Rule 17 or paragraph (g)
of Schedule Two of the AIM Rules for Companies.
S
Enquiries :
Gfinity plc www.gfinityplc.com
John Clarke, CEO Via Teneo
Teneo (Media) Tel: +44 7880 715975
Anthony Di Natale Gfinity@teneo.com
Canaccord Genuity Limited (AIM Nominated Tel:+44 (0)207
Adviser & Broker) 523 8150
Bobbie Hilliam / Georgina McCooke
About Gfinity
Gfinity (AIM: GFIN) is a world leading esports business. Created
by gamers for the world's 2.7 billion gamers, Gfinity has a unique
understanding of this fast-growing global community. It uses this
expertise both to provide advisory services and to design, develop
and deliver unparalleled experiences and winning strategies for
game publishers, sports rights holders, commercial partners and
media companies.
Gfinity connects its partners with the esports community in
authentic and innovative ways. This consists of on-- and off-line
competitions and industry--leading content production.
Relationships include EA SPORTS, Activision Blizzard, F1 Esports
Series and the Forza Racing Championship.
Gfinity connects directly with tens of millions of gamers each
month through its digital media group, Gfinity Digital Media.
Gfinity Digital Media includes websites such as: Gfinityesports,
RealSport101, StealthOptional, RacingGames.gg, MTGRocks.com and
their respective social channels.
All Gfinity services are underpinned by the Company's
proprietary technology platform delivering a level playing field
for all competitors and supporting scalable multi-format leagues,
ladders and knockout competitions.
1 Details of PDMR / person closely associated with them
('PCA')
a) Full Name Hugo Drayton
---------------------------- -------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position / status Non-Executive Director
---------------------------- -------------------------------------------
b) Initial notification Initial Notification
/ amendment
---------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participation,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Gfinity plc
-------------------------- ---------------------------------------------
b) LEI 213800GNV14EDQNRWI17
---------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
a) Description of Option over ordinary shares in the capital
the financial instrument of the Company
Identification
code ISIN: GB00BT9QD572
---------------------------- -------------------------------------------
b) Nature of the transaction Entering into an option over ordinary
shares in the capital of the Company
---------------------------- -------------------------------------------
c) Price(s) and volume(s) Price: 5.0p
Volume: 4,000,000
---------------------------- -------------------------------------------
d) Aggregated information N/A - single transaction
Aggregated volume
and Price
---------------------------- -------------------------------------------
e) Date of the transaction 21 May 2021
---------------------------- -------------------------------------------
f) Place of the transaction Off Market
---------------------------- -------------------------------------------
1 Details of PDMR / person closely associated with them
('PCA')
a) Full Name Len Rinaldi
---------------------------- -------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position / status Non-Executive Director
---------------------------- -------------------------------------------
b) Initial notification Initial Notification
/ amendment
---------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participation,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Gfinity plc
-------------------------- ---------------------------------------------
b) LEI 213800GNV14EDQNRWI17
---------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
a) Description of Option over ordinary shares in the capital
the financial instrument of the Company
Identification
code ISIN: GB00BT9QD572
---------------------------- -------------------------------------------
b) Nature of the transaction Entering into an option over ordinary
shares in the capital of the Company
---------------------------- -------------------------------------------
c) Price(s) and volume(s) Price: 5.0p
Volume: 2,000,000
---------------------------- -------------------------------------------
d) Aggregated information N/A - single transaction
Aggregated volume
and Price
---------------------------- -------------------------------------------
e) Date of the transaction 21 May 2021
---------------------------- -------------------------------------------
f) Place of the transaction Off Market
---------------------------- -------------------------------------------
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END
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