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Good Life Plus PLC - Subscription to Raise £2.03 million

Announcement provided by

Good Life Plus Plc · GDLF

04/03/2024 07:00

Good Life Plus PLC - Subscription to Raise £2.03 million
RNS Number : 3643F
Good Life Plus PLC
04 March 2024

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.



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

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