Guild Esports PLC Update on sponsorship deal (8849P)
22 October 2021 - 5:00PM
UK Regulatory
TIDMGILD
RNS Number : 8849P
Guild Esports PLC
22 October 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, as retained as part of
the law of England and Wales. Upon the publication of this
announcement via the Regulatory Information Service, this inside
information is now considered to be in the public domain.
Press release
22 October 2021
Guild Esports PLC
("Guild Esports", "Guild" or "the Company")
Update on sponsorship deal
Guild Esports (LSE: GILD), a global teams organisation and
lifestyle brand, announces that it has terminated the three-year
sponsorship deal with a European fintech company, announced on 19
October 2020, following delays in the sponsor's launch and the
payment of sums due under the contract.
Under the terms of the agreement, the sponsor was due to
commence payments from the date of their global brand launch and
unveiling. To date, Guild has not been given any clear timeline for
their launch and none of the amounts scheduled under the contract
have been paid.
Given the uncertainty about the contract and the strong appetite
from other brands to partner with Guild, the Company has elected to
terminate the contract with immediate effect to focus on new
sponsorship deals that are at an advanced stage of
negotiations.
The Company's new business pipeline remains robust, and it
continues to generate strong and active interest from consumer
brands in a wide range of sectors. In addition, the Company is
working closely with its existing global sponsorship partners with
whom relations are excellent and in line with expectations.
Kal Hourd, chief executive of Guild Esports, said: "We have been
very accommodating and patient about this contract but have decided
to terminate it due to increasing uncertainty over their launch
plans. We are in active negotiations for new sponsorship deals and
look forward to announcing these soon."
For further information please contact:
Guild Esports
Kal Hourd via Tancredi +44 207 887
Chief Executive 7633
Neil Thapar
Investor Relations
+44 7876 455 323
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Tennyson Securities
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Corporate Broker
Peter Krens +44 207 186 9030
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Zeus Capital
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Corporate Broker
Benjamin Robertson +44 203 829 5000
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Tancredi Intelligent Communication
Media Relations
-------------------------
Salamander Davoudi
Emma Valgimigli +44 7957 549 906
Helen Humphrey +44 7727 180 873
guild@tancredigroup.com +44 7449 226 720
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About Guild Esports:
Guild Esports PLC is a global fan-focused team organisation and
lifestyle brand that fields professional players in gaming
competitions under the Guild banner. Guild's 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
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). Please visit
www.guildesports.com
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