Appointment and grant of share options

RNS Number : 3783U

Gfinity PLC

12 July 2018

 

Gfinity plc

("Gfinity" or the "Company")

Appointment of Graham Wallace as Global Chief Operating Officer and Executive Director

and grant of share options

Gfinity strengthens Leadership Team to drive the next chapter of growth

Gfinity plc (AIM: GFIN), a world leading esports solutions provider, announces the appointment of experienced sports and media executive Graham Wallace to the Board of Directors and to the newly created role of Global Chief Operating Officer with immediate effect. Graham will work alongside recently appointed Executive Chairman, Garry Cook, with responsibility for managing Gfinity's global business operations as the Company focuses on delivery of its strategy and growth targets.  

In a highly successful career spanning over twenty five years, Graham Wallace, a Chartered Accountant, has held senior executive positions with leading sports and entertainment companies including Viacom Inc, MTV Networks Europe and IMG Media. He was Chief Financial Officer and latterly Chief Operating Officer at Manchester City FC where he led the business transformation programme between 2009 and 2013. He then joined Rangers FC as Chief Executive where he helped to lead the rebuilding of the club following its exit from administration. Recently Graham has worked with several leading investment groups advising on strategic, operational and financial matters in a range of sports and media properties. 

Garry Cook, Executive Chairman, said:

"On behalf of the Board I would like to welcome Graham to Gfinity. His leadership and operational skills, combined with extensive knowledge of the media, sports and entertainment sectors will be invaluable as we begin to write the next chapter of the Gfinity story. 

The esports industry is expected to grow to $1.65 billion globally by 2021. With a clear strategy and an experienced leadership team now in place, Gfinity will be able to take full advantage of this growth and build upon its position as a world leader in the esports community."

Iain Graham Wallace (known as Graham Wallace), aged 57, is currently a Director of Marlborough Sports Media Limited and within the last five years was a Director of the following companies: Disruption Sports Limited, Garrion Security Services Limited, Rangers International Football Club plc, The Rangers Football Club Limited, Rangers Media Limited and Rangers Retail Limited.

Grant of share options

For Graham's appointment and Garry Cook moving to Executive Chairman last month, and in acknowledgement of the additional contribution they are expected to make in the next phase of Gfinity's development, the Company's remuneration committee has agreed to issue Graham and Garry with options over new ordinary shares in the Company ("Options"). 

Graham and Garry have each been awarded 8,590,446 Options (representing approximately 3 per cent of the Company's current issue share capital) under the Company's unapproved share option scheme ("Non-EMI Scheme").

The Options have an exercise price of 12p per share and vest in three tranches as to one third on the date of grant, one third from 9 July 2019 and one third from 9 July 2020. The Options expire on 9 July 2028 if not exercised.

Following the grant of the Options, the Company has a total of 57,079,328 options over ordinary shares outstanding, representing approximately 18.89 per cent of the Company's issued share capital.

Pursuant to rule 13 of the AIM Rules for Companies, the Directors of the Company other than Garry Cook and Graham Wallace, consider, having consulted with the Company's nominated adviser, Allenby Capital Ltd, that the terms of the grant of Options to Garry Cook and Graham Wallace are fair and reasonable insofar as shareholders are concerned.

Enquiries:

Gfinity plc	www.gfinityplc.com
Garry Cook, Executive Chairman	Via Walbrook PR
Allenby Capital Limited - AIM Nominated Adviser and Joint Broker	Tel: [phone]
Jeremy Porter / John Depasquale
Shore Capital - Joint Broker	Tel: [phone]
Patrick Castle
Walbrook PR (Media & Investor Relations)	Tel: [phone]
Paul Cornelius / Sam Allen	or [e-mail]

About Gfinity

Gfinity has established itself as one of the world's leading esports companies. The London-based business enjoys strong relationships with game publishers, players and the wider esports community and has built a solid reputation for delivering high quality competitions, both on-line at www.gfinityesports.com and off-line, in addition to producing industry leading esports broadcasts.

The Gfinity Esports Arena in London is the home of UK esports showcasing regular tournaments across the full range of competitive games. Beyond its own tournaments Gfinity provides a full turnkey solution for brands wanting to create their own esports tournaments and has staged premium esports events around the globe for leading publishers and brands including Formula 1, Microsoft, Activision, EA, Xbox, Gillette and HP.

 

END

 

 

MSCEANXFFEFPEFF