Worldlink Group Plc Andrew Ellis secures 51% of Worldlink Sport (9556H)
18 7월 2012 - 8:59PM
UK Regulatory
TIDMWGP
RNS Number : 9556H
Worldlink Group Plc
18 July 2012
18 July 2012
Andrew Ellis secures 51% of Worldlink's Sports Division
Worldlink Group Plc ("Worldlink" or the "Company"), the UK
listed Company with patents on providing changing data in real-time
for mobile devices, today announce that Across the Line Limited, a
company funded by London based property and football entrepreneur
Mr. Andrew Ellis, has acquired a 51% controlling stake of its
rapidly growing sports and gaming division Worldlink Sport Limited
("Worldlink Sport").
In consideration for the investment in Worldlink Sport, Across
the Line Limited will provide GBP1.3m to fund upfront commitments
required on certain contracts, plus working capital up to a maximum
of a further GBP1.2m to fund future deals (the "Ellis investment").
Worldlink will receive a revenue stream of 15% of Worldlink Sport's
future net revenues.
Additionally Worldlink has issued GBP25,000 (250,000) of
warrants exercisable at 10 pence per share, GBP25,000 (125,000) of
warrants exercisable at 20 pence per share, GBP25,000 (83,333) of
warrants exercisable at 30 pence per share and GBP25,000 worth of
warrants exercisable at the price at which the Company's shares are
trading following lifting of the Company's suspension from trading.
All warrants are exercisable for a period of 12 months from 11 July
2012.
The Company and Across the Line Limited each has an option to
acquire the other shareholders' shares in Worldlink Sport at its
fair value following the signing of Worldlink Sport's accounts to
31 December 2013 and 31 December 2014. If both parties choose to
exercise the option, the party which offers the highest price will
be deemed to have exercised the option.
Worldlink Sport has recently entered into Heads of Agreement
with multiple high profile sports rights including Premier League
teams Sunderland AFC and Newcastle United together with its
licensed bookmaking partner, Betbutler as Official Betting and
Gaming Partner. Worldlink Sport will now finance these agreements
via the Ellis investment and hopes to be able to announce further
significant high profile sports rights deals in the near
future.
Neil Riches commented: "We are delighted with the agreement
reached with Andrew Ellis and the investment into Worldlink Sport
Limited. We have concluded many significant deals in the sports
market that will mean Worldlink is now a major player in this
sector and we look forward to announcing further deals shortly.
Andrew Ellis added "I am extremely pleased to be involved in
Worldlink Sport. Worldlink are bringing amazing new technology to
the betting and gaming sector which is going to provide sports fans
a superior betting experience. We are confident that Worldlink
Sport will become one of the leading companies in the sports and
gaming sector with the rights that we are in the process of
acquiring"
About Worldlink
Worldlink is one of the UK's leading real-time mobile
applications companies with patented technology that allows
information held on the mobile device to be updated automatically
without the need for a manual refresh. Information is delivered via
a mobile telecommunications network in real time, whilst
intelligently minimising the bandwidth required to transmit the
data. The technology is patent protected in the US and UK and is
patent pending in Europe. Worldlink has already licensed its
patents to leading institutions in the financial and technology
sectors and is furthering this process in the UK, US and
Europe.
Contact
For further information please contact: Neil Riches 01737 221
078 Managing Director Worldlink Group Plc
About Andrew Ellis
Andrew Ellis is a London-based football and property
entrepreneur. The founder and director of successful commercial and
residential estate agency Wilton Estates with successful
developments in Zanzibar and Portugal, among others, Andrew is a
former Director of Queens Park Rangers and was formerly Chairman of
Northampton Town.
Contact
Andrew Ellis
Wilton Estates
50 Beauchamp Place, London SW3 1NG
Tel: 020 7589 4116
XCAP Securities Plc
Contact
Jon Belliss 020 7101 7070 XCAP Securities plc. Broker
This information is provided by RNS
The company news service from the London Stock Exchange
END
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