Gfinity PLC Appointment and grant of share options (3783U)
July 12 2018 - 2:00AM
UK Regulatory
TIDMGFIN
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 Tel: +44 20 3328 5656
Adviser and Joint Broker
Jeremy Porter / John Depasquale
Shore Capital - Joint Broker Tel: +44 (0) 20 7408
4090
Patrick Castle
Walbrook PR (Media & Investor Relations) Tel: +44 (0)20 7933 8780
Paul Cornelius / Sam Allen or gfinity@walbrookpr.com
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.
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END
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