Good Life Plus
Plc
(the
"Company" or "Good Life Plus")
Issue of Convertible Loan
Notes
£275,000 Raised via
Subscription to Convertible Loan Notes
Good Life Plus Plc (AQSE: GDLF), an
innovator in the luxury prize draw and rewards sector, is pleased
to announce it has raised £275,000 by way of subscription for
275,000 convertible loan notes of £1 each ("CLNs"). The
Company has made available up to 500,000 CLNs and will update the
market as further CLNs are subscribed for. Winforton
Investments Limited ("Winforton"), a holder of 20.6% of the current
issued share capital, has subscribed for 250,000 CLNs.
The CLNs will expire on 31 August
2025 and carry a coupon of 10% which will be paid in cash quarterly
in arrears. On maturity, and at the Company's discretion, the
CLNs will either be repaid in full with a 10% bonus paid in cash on
top of the principal or will convert at a 10% discount to the
trailing 30 day VWAP at the time of maturity.
In addition, there will be an
automatic conversion of the CLNs in the intervening period should
the Company conduct an equity raise of £2m or above. The CLNs
will convert into new ordinary shares in the Company at a price
equal to a 10% discount of such a fundraise.
The participation of Winforton
constitutes a related party transaction under Rule 4.6 of the AQSE
Growth Market Access Rulebook. The Directors consider that
having exercised reasonable care, skill and diligence, the related
party transaction is fair and reasonable as far as the shareholders
of the Company are concerned.
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
Financial Media and Investor Communications
John West / Lily
Pearce
+ 44 (0)20 7653 8702
goodlifeplus@belvederepr.com
