17th Jun 2025 14:35
Good Life Plus PLC - London-based luxury prize draw and rewards provider - Raises GBP750,000 from a cornerstone investor through subscription to new convertible loan notes. Says it is issuing up to 1.5 million notes of 100 pence each, and private investment vehicle Boatside Investments Ltd has subscribed for half of this amount. Notes that Boatside is associated with Sportingbet PLC founder Mark Blandford. Says the notes remain open for investment until June 10, 2026. The loan notes expire on June 30, 2028, and carry a 10% coupon which will accrue until maturity, at which point they will either be repaid or convert into new shares at 2.15 pence each. Also, the notes automatically convert if Good Life Plus conducts a qualifying fundraise defined as an equity raise of GBP1 million or above, "to the extent that the aggregate holdings associated with Mark Blandford and his related parties remain below 30%". Shares would then be either equal to the fundraise price or 2.15p, whichever is lower. Read More