GILD Guild Esports Plc

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

1 August 2024

Guild Esports PLC

("Guild Esports", "Guild" or "the Company")

Company update and strategic review

Guild Esports (LSE: GILD), a global gaming-focused media business, announces preliminary findings from its ongoing strategic review including the Company's financial position.

Guild Esports' cash position was £25,000 as at 31 July 2024. The Company's confirmed liabilities until the end of September 2024 total £1.36 million, with accounts receivable amounting to £1.52 million.

The Company is actively exploring a range of options to allow the Company to meet its short-term liabilities as they fall due. Measures under consideration include securing additional funding, negotiating improved payment terms with creditors, and further cost reduction initiatives to conserve cash reserves. 

In addition to the fundraising avenues, the Board is reviewing the strategic direction of the Company, including the realisation of assets to generate cash or whether the Company would be best served by being part of a larger group.

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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). Please visit www.guildesports.com for more information.