For
release 07.00: 4 March 2024
Good Life Plus
Plc
(the
"Company" or "Good Life Plus")
Subscription to Raise £2.03
million
Good Life Plus Plc (AQSE: GDLF), an
innovator in the luxury prize draw and rewards sector, is pleased
to announce the completion of a subscription for a total of
90,222,223 ordinary shares of £0.001 each ("Ordinary Shares") at a
price of 2.25p (the "Subscription Shares") raising £2.03 million
(the "Subscription").
An application will be made to the
Aquis Stock Exchange ("Aquis") for the 90,222,223 Subscription
Shares to be admitted to trading. Admission is expected to take
place, and dealings on Aquis in the Subscription Shares are
expected to commence, at 08:00 on or around 8 March
2024.
Of the £2.03 million raised via the
Subscription, £2 million has been subscribed by Winforton
Investments Limited ("Winforton"), a private investment vehicle
associated with Mark Blandford, the founder of Sportingbet Plc,
subsequently acquired by GVC Holdings (now renamed Entain
Plc). As a result, upon Admission Winforton will be
interested in 128,888,889 Ordinary Shares which will represent
approximately 17.9 per cent. of the Company's enlarged issued
ordinary share capital at Admission.
The proceeds of the Subscription will
be used principally for investing in the Company's operations, with
a focus on marketing initiatives to drive further organic growth
and subscription numbers, as well as in general working
capital.
Commenting on the Subscription Charlie Chadd, CEO of Good Life
Plus Plc, said:
"This investment significantly boosts our capacity for growth,
targeting an increase in subscriber base, reduction in churn, and a
rise in average revenue per customer. It enables strategic
enhancements in our operations, fostering more partnerships and
pioneering new reward and incentive models.
"Growth is not just a matter of capital but also of
knowledge. Mark is a respected investor across a broad range
of sectors, including gaming, entertainment, support services and
data driven scalable tech businesses and securing further
investment from him underscores the strength of our business
model. Coupled with David Craven's recent appointment as
Chairman, a prominent figure in the global gaming world, we are now
well positioned to transition from a disruptor to an industry
leader. Our innovative approach aims to revolutionise the prize
draw and rewards landscape."
Total Voting Rights
Following the issue of the
Subscription Shares, the Company's issued ordinary share capital
shall consist of 719,272,203 Ordinary Shares. The figure of
719,272,203 represents the total voting rights in the Company and
should be used by shareholders as the denominator for the
calculation by which they can determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure Guidance
& Transparency Rules.
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
+44 (0)7500 929157
Charlie Chadd, Chief
Executive
Novum Securities Limited
AQSE Corporate Advisor
David Coffman / Daniel Harris / George
Duxberry
+44 (0)20 7399 9400
Belvedere Communications Limited
Financial Media and Investor
Communications
John West / Lily
Pearce
+ 44 (0)20 7653 8702
goodlifeplus@belvederepr.com
