Good Life Plus PLC - Issue of CLNs, £750,000 Raised

Good Life Plus Plc

(the "Company" or "Good Life Plus")

Issue of Convertible Loan Notes

£750,000 Raised via Subscription to Convertible Loan Note

Good Life Plus Plc (AQSE: GDLF), an innovator in the luxury prize draw and rewards sector, is pleased to announce it has raised £750,000 from a cornerstone investor by way of subscription to new Convertible Loan Note (CLNs).

The Company is issuing up to 1.5m CLNs of £1 each and Boatside Investments, which is a private investment vehicle associated with Mark Blandford, the founder of Sportingbet Plc, has subscribed for half of this amount. The Company will update the market as further CLNs are subscribed for.  The CLNs remain open for investment until 10 June 2026. 

The Loan Notes will expire on 30 June 2028 and carry a coupon of 10% which will accrue until maturity.  On maturity, and at the Noteholders discretion, the Loan Notes will either be repaid in full or will convert into new ordinary shares at a price of 2.15 pence per share.  Interest due at maturity will be paid in shares in the event of conversion.  In addition, there will be an automatic conversion of the Loan Notes in the intervening period should the Company conduct a qualifying fundraise defined as an equity raise of £1m or above to the extent that the aggregate holdings associated with Mark Blandford and his related parties remain below 30%. Loan Notes will convert into new Ordinary Shares in the Company at a price equal to the fundraise price or 2.15p, whichever is lower. 

The Company and Boatside Investments has agreed that conversion will not occur in any circumstance which would take the aggregate holdings associated with Mark Blandford and his related parties over a 30% holding in the Company without prior approval by way of waiver from the Takeover Panel of his obligations under Rule 9 of the Takeover Code and shareholder approval.  These holdings currently stand at 29.9% of the Company's issued share capital.

The participation of Boatside Investments is considered a Related Party Transaction under the AQSE Rules. The Board, having considered Boatside's participation, has concluded that it is fair and reasonable in relation to the interests of the Company's wider shareholders.

Charlie Chadd, CEO of Good Life Plus Plc, commented:

"We are delighted to have secured further investment from our largest shareholder, representing both their confidence in our progress to date and the scalability of our business model. This additional capital will support the acceleration of our growth initiatives and the pursuit of new opportunities, driving further upside throughout the remainder of the year. Our focus remains on scaling rapidly, whilst maintaining the best customer experience. With this strengthened position, we are well placed to seize emerging market opportunities and create sustainable value for shareholders."

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                                                                                                      +44 (0)20 7399 9400

Rosewood Communications Limited

Financial Media and Investor Communications

John West / Lily Pearce                                                                                                                  + 44 (0)20 7653 8702

goodlifeplus@rosewood.com